Seller's Agent in 2019
Christian Walsh
Berkshire Hathaway HomeServices California Properties
(949) 677-3466
86 Total Sales
906 E Oceanfront Newport Beach, CA 92661
Balboa Peninsula Point Neighborhood
8
Beds
6
Baths
3,255
Sq Ft
3,920
Sq Ft Lot
Highlights
- Beach Front
- Ocean View
- Laundry Room
- Newport Elementary School Rated A
- No HOA
- 1-minute walk to Balboa Peninsula Park
About This Home
As of July 2019This way to the beach...906 E. Oceanfront is one of the few legal triplexes on the Peninsula and is conveniently located on the boardwalk across from Balboa Peninsula Park and the nearby Balboa Pier. This clean, upgraded and remodeled building includes a great unit mix of two large 3 bedroom/2 bath units and one 2 bedroom/2 bath unit. Two units have direct ocean, beach, sunset, pier and boardwalk views. The lot is an oversized 3,920 sqft (per assessor) that can offer exciting future redevelopment opportunities, buyer to verify options with the city.
For the first time in the building’s history, it was effectively run as a licensed short term rental and generated nearly $200,000 in income for the year. The conservative annual pro forma income is $225,000+. Over $50,000 is already booked for the summer 2019 season. Now that this asset is stabilized and income is growing, it’s perfect for the investor looking to simply cash checks and maybe occasionally visit and stay in a premier oceanfront location.
The building also features a shared interior courtyard plus a front patio abutting the boardwalk. The alleyway provides access to a huge 3 car garage with laundry area and ample storage space. All units are separately metered for gas and electric. All furniture and household goods are included in the sale.
Last Agent to Sell the Property
Berkshire Hathaway HomeServices California Properties License #01804983 Listed on: 02/07/2019
Property Details
Home Type
- Multi-Family
Year Built
- Built in 1971 | Remodeled
Lot Details
- 3,920 Sq Ft Lot
- Beach Front
- Two or More Common Walls
- No Landscaping
Parking
- 3 Car Garage
- Parking Available
Property Views
- Ocean
- Coastline
- Catalina
- Panoramic
- Park or Greenbelt
Home Design
- Property Attached
Interior Spaces
- 3,255 Sq Ft Home
- 2-Story Property
Bedrooms and Bathrooms
- 8 Bedrooms
- 6 Bathrooms
Laundry
- Laundry Room
- Laundry in Garage
Listing and Financial Details
- Tax Lot 18
- Tax Tract Number 104
- Assessor Parcel Number 04814332
Community Details
Overview
- No Home Owners Association
- 3 Units
Building Details
- 3 Separate Electric Meters
- 3 Separate Gas Meters
- 1 Separate Water Meter
- Cable TV Expense $4,176
- Electric Expense $2,400
- Fuel Expense $1,500
- Insurance Expense $1,734
- Maintenance Expense $11,334
- Professional Management Expense $20,479
- Water Sewer Expense $554
- New Taxes Expense $47,277
- Operating Expense $89,954
- Gross Income $192,357
- Net Operating Income $102,403
Create a Home Valuation Report for This Property
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Home Values in the Area
Average Home Value in this Area
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 07/02/2019 07/02/19 | Sold | $4,350,000 | -3.3% | $1,336 / Sq Ft |
| 02/07/2019 02/07/19 | For Sale | $4,499,000 | +28.5% | $1,382 / Sq Ft |
| 03/15/2018 03/15/18 | Sold | $3,500,000 | -1.4% | $1,075 / Sq Ft |
| 01/18/2018 01/18/18 | Pending | -- | -- | -- |
| 01/15/2018 01/15/18 | Price Changed | $3,550,000 | -6.6% | $1,091 / Sq Ft |
| 11/27/2017 11/27/17 | Price Changed | $3,800,000 | -3.8% | $1,167 / Sq Ft |
| 10/11/2017 10/11/17 | Price Changed | $3,950,000 | -2.5% | $1,214 / Sq Ft |
| 08/18/2017 08/18/17 | Price Changed | $4,050,000 | -3.6% | $1,244 / Sq Ft |
| 06/07/2017 06/07/17 | For Sale | $4,200,000 | -- | $1,290 / Sq Ft |
Source: California Regional Multiple Listing Service (CRMLS)
Tax History Compared to Growth
Agents Affiliated with this Home
-
Christian Walsh
-
Dominic Tucci
Buyer's Agent in 2019
Dominic Tucci
Pacific Sothebys
(949) 632-2269
1 in this area
32 Total Sales
-
Travis White
Seller's Agent in 2018
Travis White
Real Broker
(949) 940-5865
9 Total Sales
-
Nick Louis
Buyer's Agent in 2018
Nick Louis
NAL Financial Inc.
(949) 645-6253
4 Total Sales
Map
Source: California Regional Multiple Listing Service (CRMLS)
MLS Number: PW19029273
APN: 048-143-32
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Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information
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