Residential Income Details
Built in 1959 and thoroughly renovated in 2013, this property consists of one, four-bedroom(converted from three-bedroom)/two-bathroom front single family residence unit and five, two-bedroom/one-bathroom back apartment units. The front dwelling house comes with a spacious 2,000 square foot floor plan and a one car garage with direct access, plus an additional driveway and street parking, along with its own private backyard. All five two-bedroom units include tucked-under carport parking with storage and extra open space parking. Moreover, the apartment building provides a shared large inclusive courtyard, gated swimming pool and laundry facility. Each unit is also individually metered for gas & electricity and contains copper plumbing. The subject property is situated on a huge lot of 17,625 square feet as well as an additional 18 percent potential upside on rents.
The property is located at the heart of Newport Beach. Attractions like Newport Beach Pier, Newport Harbor, Balboa Peninsula, Fashion Island and The Triangle are within minutes of driving. This is an exceptional opportunity for an investor to acquire a piece of real estate where one will find an ideal balance between capital preservation and cash flow. It is a true trophy asset which will stand against inflation and proven to be the most desirable pride of ownership investment.
|Number of Units||6|
|Listing Brokerage||MARCUS & MILLICHAP|
|Listing Agent||EDWARD PAN|
|Listing Agent BRE #||01894476|
|Parking||Built-In Storage,Carport Attached,Direct Garage Access,Driveway,Garage|
Based on information from California Regional Multiple Listing Service, Inc. as of Thursday, September 6, 2018.
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