1609 E Balboa Boulevard

    Newport Beach, CA 92661
    • $2,349,000
    • STATUS: Active
    • ON SITE: 9 days
    • ID#: NP19161789
    $2,349,000
    • 0
      BEDS
    • 0.06
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 2,756
      SQFT
    • $852
      $/SQFT
    Type:
    Multi-Family
    Built:
    1949
    County:

    School Ratings & Info

    Description

    Presenting a wonderful opportunity for instant income is this charming quadruplex located seconds to both the beach and bay within the highly desirable neighborhood of Peninsula Point. Encompassing (1) two-bedroom, two-bathroom unit and (3) one-bedroom, one-bathroom units, the property allows plenty of space for the future owner or manager to live on-site for easy property management. Three single garages provide additional storage and opportunity for income - previously rented at rate of $200/mo per garage. Given the high demand of the Newport Beach rental market, the future owner of this premier property has the potential to gross approximately $167,000/ year on all units and garages combined. Surrounded by multi-million dollar homes near the Fun Zone, countless shops and restaurants, this picturesque coastal residence is the perfect investment and place to call to home.

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    Based on information from California Regional Multiple Listing Service, Inc. as of 2019-07-20T00:42:18.983. 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/96751824

    1609 E Balboa Boulevard Newport Beach, CA 92661

    • Price: $2,349,000
    • Status: Active
    • ID#: NP19161789
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.06
    Acres
    2,756
    SQFT
    $852
    $/SQFT
    1949
    Built
    Neighborhood:
    Balboa Peninsula Point (Blpp)
    County:
    Orange
    Area:
    NP - Balboa Peninsula
    Property Description
    Presenting a wonderful opportunity for instant income is this charming quadruplex located seconds to both the beach and bay within the highly desirable neighborhood of Peninsula Point. Encompassing (1) two-bedroom, two-bathroom unit and (3) one-bedroom, one-bathroom units, the property allows plenty of space for the future owner or manager to live on-site for easy property management. Three single garages provide additional storage and opportunity for income - previously rented at rate of $200/mo per garage. Given the high demand of the Newport Beach rental market, the future owner of this premier property has the potential to gross approximately $167,000/ year on all units and garages combined. Surrounded by multi-million dollar homes near the Fun Zone, countless shops and restaurants, this picturesque coastal residence is the perfect investment and place to call to home.
    Exterior Features

    Carport Spaces 0.00 Garage Spaces 3.00 Lot Features Rectangular LotPark Nearby Lot Size Source Assessor Lot Size Units Square Feet Parking Features GarageGarage Faces RearGarage - Three Door Parking Total 3.00 Parking YN Yes Pool Features None Pool Private YN No Property Attached YN No

    Interior Features

    Appliances Built-In RangeGas RangeGas Water HeaterRefrigerator Appliances YN Yes Average Studio Area Units Square Feet Average1 Bed Area Units Square Feet Average2 Bed Area Units Square Feet Average3 Bed Area Units Square Feet Common Walls No Common Walls Cooling None Cooling YN No Fireplace Features Living Room Fireplace YN Yes Heating Wall Furnace Heating YN Yes Interior Features 2 StaircasesCeiling Fan(S)Crown MoldingOpen Floorplan Laundry Features Common Area Levels Two

    Property Features

    Additional Parcels YN No Association Fee 0.00 Association YN No Building Area Units Square Feet Community Features Sidewalks Country Us Electric Expense 100.00 Elevation Units Feet Garage Rental Rate 200.00 Gross Income 71340.00 Gross Scheduled Income 71340.00 Insurance Expense 1500.00 Land Lease YN No Laundry YN Yes Licenses Expense 170.00 Net Operating Income 64825.00 New Construction YN No New Taxes Expense 24664.00 Number Of Separate Electric Meters 4 Number Of Separate Gas Meters 4 Number Of Separate Water Meters 4 Number Of Units Leased 3 Number With Carpet 4 Number With Patio 2 Number With Range 4 Number With Refrigerator 4 Operating Expense 6515.00 Property Sub Type Quadruplex Rent Control YN No Senior Community YN No Sewer Public Sewer Special Listing Conditions Standard Subdivision Name Other Balboa Peninsula Point (Blpp) Tenant Pays All UtilitiesCable TvElectricityGas Total Expenses 26584.00 Trash Expense 0.00 Water Sewer Expense 150.00 Water Source Public Year Built Source Assessor

    Listing provided courtesy of Tim Smith of Coldwell Banker Res. Brokerage and Jason Streatfeild of Brekshire Hathaway Home Servic


    Based on information from California Regional Multiple Listing Service, Inc. as of 2019-07-20T00:42:18.983. 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.
     
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