1320 W Balboa Boulevard

    Newport Beach, CA 92661
    • $2,688,888
    • STATUS: Active
    • ON SITE: 9 days
    • ID#: PW19032550
    Open House
    $2,688,888
    • 0
      BEDS
    • 0.07
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 2,373
      SQFT
    • $1,133
      $/SQFT
    Type:
    Multi-Family
    Built:
    2018
    County:

    School Ratings & Info

    Open House: 2/24 1:00 PM to 4:00 PM

    Description

    One Year Renovation Project is Completed! Great opportunity to own TWO TURNKEY condition BEACH HOMES in A lot in the heart of the Balboa Peninsula! Situated just steps away from both the beach and bay. Steps away from world renown surf spot "The Point" and "Balboa Pier", Newport Elementary School is near by. The property consists of two DETACHED buildings with a spacious patio in between. The entire buildings were renovated from top to bottom and inside and outside except few parts. Total of Three Units, possible to convert into FOUR UNITS. Front building consists of 1020 sf. one story unit with 3BR/2BA, porch, private side patio, laundry room is INSIDE of the unit. Top unit of the Rear Building has a brand new 505 sq. ROOF TOP DECK w/ beautifully FURNISHED 802 sf. 3BR/2BA and rear balcony, and bottom unit has 168 sf. 1BR/1BA but NO Kitchen, the second laundry area is inside of the garage. Each units have their own private patios for their outdoor entertainment, have fun while staying brand new cozy beach home! It offers total of 4 (FOUR) PARKING SPACES on the property, 386 sf. of 2 car garage and 2 carport spaces and plenty of the street parking spaces are available. High Income potential property as the city ALLOWS SHORT TERM RENTAL PERMIT. It is legal R-2 zone and occupancy group is R3/U. Brand new wall mounted A/Cs+Heaters are installed in EVERY rooms which will reduce the electricity bills. Buyer to cooperate with seller's 1031 exchange at no cost to buyer.

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    Based on information from California Regional Multiple Listing Service, Inc. as of 2019-02-22T01:01:56.25. 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 deemed reliable but is not guaranteed accurate by the MLS. Licensed in the State of California, USA.
    www.fredsedgroup.com/homes/91752177

    1320 W Balboa Boulevard Newport Beach, CA 92661

    • Price: $2,688,888
    • Status: Active
    • ID#: PW19032550
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.07
    Acres
    2,373
    SQFT
    $1,133
    $/SQFT
    2018
    Built
    Neighborhood:
    Balboa Peninsula (Residential) (Balp)
    County:
    Orange
    Area:
    NP - Balboa Peninsula
    Property Description
    One Year Renovation Project is Completed! Great opportunity to own TWO TURNKEY condition BEACH HOMES in A lot in the heart of the Balboa Peninsula! Situated just steps away from both the beach and bay. Steps away from world renown surf spot "The Point" and "Balboa Pier", Newport Elementary School is near by. The property consists of two DETACHED buildings with a spacious patio in between. The entire buildings were renovated from top to bottom and inside and outside except few parts. Total of Three Units, possible to convert into FOUR UNITS. Front building consists of 1020 sf. one story unit with 3BR/2BA, porch, private side patio, laundry room is INSIDE of the unit. Top unit of the Rear Building has a brand new 505 sq. ROOF TOP DECK w/ beautifully FURNISHED 802 sf. 3BR/2BA and rear balcony, and bottom unit has 168 sf. 1BR/1BA but NO Kitchen, the second laundry area is inside of the garage. Each units have their own private patios for their outdoor entertainment, have fun while staying brand new cozy beach home! It offers total of 4 (FOUR) PARKING SPACES on the property, 386 sf. of 2 car garage and 2 carport spaces and plenty of the street parking spaces are available. High Income potential property as the city ALLOWS SHORT TERM RENTAL PERMIT. It is legal R-2 zone and occupancy group is R3/U. Brand new wall mounted A/Cs+Heaters are installed in EVERY rooms which will reduce the electricity bills. Buyer to cooperate with seller's 1031 exchange at no cost to buyer.
    Exterior Features

    Carport Spaces 2.00 Fence YN Yes Fencing Wood Garage Spaces 2.00 Lot Features 2-5 Units/Acre Lot Size Source See Remarks Lot Size Units Square Feet Other Structures Two On A Lot Parking Features Carport AttachedGarageGarage - Rear EntryGarage - Single DoorGarage Door Opener Parking Total 4.00 Parking YN Yes Pool Features None Pool Private YN No Property Attached YN No Roof AsphaltShingle Spa Features None Spa YN No View Peek-A-BooWater View YN Yes

    Interior Features

    Appliances DishwasherFree Standing RangeGarbage DisposalMicrowaveRefrigeratorTankless Water HeaterWater Heater Unit Appliances YN Yes Average Studio Area 168 Average Studio Area Units Square Feet Average1 Bed Area Units Square Feet Average2 Bed Area Units Square Feet Average3 Bed Area 1020 Average3 Bed Area Units Square Feet Common Walls No Common Walls Cooling ZonedElectricSee Remarks Cooling YN Yes Fireplace Features None Fireplace YN No Flooring See Remarks Heating ZonedElectricSee Remarks Heating YN Yes Interior Features Copper Plumbing FullCopper Plumbing PartialFurnishedPartially Furnished Laundry Features Dryer IncludedIn GarageInsideWasher Included Levels OneTwo Room Type Great RoomMain Floor Bedroom Window Features Double Pane Windows

    Property Features

    Additional Parcels YN No Association Fee 0.00 Association YN No Building Area Units Square Feet Cap Rate 3.80 Community Features Sidewalks Country Us Electric Standard Electric Expense 0.00 Elevation Units Feet Exclusions RefrigeratorsWasher/DryersFurniture And Accessories Fuel Expense 0.00 Gross Income 0.00 Gross Scheduled Income 147600.00 Inclusions MicrowaveDishwasherFreestanding Gas RangeAll Window Blinds And Verticals Insurance Expense 1100.00 Land Lease YN No Laundry YN Yes Net Operating Income 103040.00 New Construction YN No New Taxes Expense 28700.00 Number Of Separate Electric Meters 2 Number Of Separate Gas Meters 2 Number Of Separate Water Meters 1 Number Of Units Leased 0 Number Wall AC 9 Number With Dishwasher 2 Number With Disposal 2 Number With Patio 4 Number With Range 2 Number With Refrigerator 2 Operating Expense 29800.00 Property Condition TurnkeyUpdated/Remodeled Rent Control YN No Senior Community YN No Sewer Public Sewer Special Listing Conditions Standard Subdivision Name Other Balboa Peninsula (Residential) (Balp) Tenant Pays All UtilitiesTrash CollectionWater Total Actual Rent 0.00 Total Expenses 29800.00 Trash Expense 0.00 Utilities Sewer Connected Vacancy Allowance Rate 10.00 Water Sewer Expense 0.00 Water Source Public Year Built Source See Remarks

    Listing provided courtesy of Frances Lee of Frances Lee Real Estate


    Based on information from California Regional Multiple Listing Service, Inc. as of 2019-02-22T01:01:56.25. 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 deemed reliable but is not guaranteed accurate by the MLS. Licensed in the State of California, USA.
     
    Fred Sed Realty - Keller Williams
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    Irvine CA, 92604