1701 W Balboa Boulevard

  • Newport Beach

  • $5,600,000
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Residential Income Details

Description
RARE, DOUBLE LOT with 10 units and only 25 yards away to the Pacific Ocean on Balboa Peninsula. Unit mix consists of the following: one 4 bed 2 bath (has ocean views), one 2 bed 1 baths, three 1 bed 1 baths, 5 studios, and there are 10 separate garages. Professional Property Management company handling property with rents of approximately $22,630 per month, this could be enhanced if new owner decides to turn property into weekly vacation rentals as well as raising rents. All units are upgraded and updated with new kitchens and all have wood floors. Seller states the city of Newport Beach is open to having 7-10 condos built on the land itself thus giving an amazing opportunity for Investors, please check with City of Newport Beach.
Essential
MLS #OC18248612
Price$5,600,000
Number of Units10
Sale TypeStandard
StatusActive
Listing BrokerageLantern Bay Realty
Listing AgentTony Morrison
Listing Agent BRE #01346460
Interior
FloorTile,Vinyl,Wood
HeatingNone
Exterior
ParkingAssigned,Garage,On Site,Parking Space,Public
Garage Spaces9
ViewMarina,Ocean
PoolNone
RoofingShingle
Community
AreaNP - Balboa Peninsula
TractBalboa Peninsula (Residential) (BALP)
CommunitySidewalks,Street Lighting,Suburban
Address1701 W Balboa Boulevard
CityNewport Beach
CountyOrange
StateCA
ZipCode92663
School

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Based on information from California Regional Multiple Listing Service, Inc. as of Saturday, October 13, 2018. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.