$9,500,000
1007 E Balboa Boulevard Newport Beach, CA 92661
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$9,500,000
Est. payment /mo
1 BD
1 BA
3,600 Sqft Lot
Active
1007 E Balboa Boulevard Newport Beach, CA 92661
UPDATED:
07/13/2024 12:11 AM
Key Details
Property Type Multi-Family
Sub Type Res Income 2-4 Units
Listing Status Active
Purchase Type For Sale
MLS Listing ID NP24109926
Bedrooms 1
HOA Y/N No
Lot Size 3,600 Sqft
Property Description
A remarkable opportunity to own 10 Units on the Oceanfront of the Balboa Peninsula with 7 Irreplaceable STR's (SHORT TERM RENTAL PERMITS)! This is a dream deal w/ a monster cap rate and a whopping $640,000 NET income in 2023! Located almost perfectly right next to Balboa Pier, Balboa Fun Zone, Balboa Ferry, Market & Deli, Shopping, Restaurants, Arcades, and More. Each unit is remodeled and ready to be rented immediately. 4 of the Units are directly facing the oceanfront with spectacular panoramic views, including the Pier. Priced to sell and motivated deal. APN 048-146-04 (additional 1,519 sqft parcel on sand/beach) also included.
A remarkable opportunity to own 10 Units on the Oceanfront of the Balboa Peninsula with 7 Irreplaceable STR's (SHORT TERM RENTAL PERMITS)! This is a dream deal w/ a monster cap rate and a whopping $640,000 NET income in 2023! Located almost perfectly right next to Balboa Pier, Balboa Fun Zone, Balboa Ferry, Market & Deli, Shopping, Restaurants, Arcades, and More. Each unit is remodeled and ready to be rented immediately. 4 of the Units are directly facing the oceanfront with spectacular panoramic views, including the Pier. Priced to sell and motivated deal. APN 048-146-04 (additional 1,519 sqft parcel on sand/beach) also included.
A remarkable opportunity to own 10 Units on the Oceanfront of the Balboa Peninsula with 7 Irreplaceable STR's (SHORT TERM RENTAL PERMITS)! This is a dream deal w/ a monster cap rate and a whopping $640,000 NET income in 2023! Located almost perfectly right next to Balboa Pier, Balboa Fun Zone, Balboa Ferry, Market & Deli, Shopping, Restaurants, Arcades, and More. Each unit is remodeled and ready to be rented immediately. 4 of the Units are directly facing the oceanfront with spectacular panoramic views, including the Pier. Priced to sell and motivated deal. APN 048-146-04 (additional 1,519 sqft parcel on sand/beach) also included.
Location
State CA
County Orange
Area Oc - Newport Beach (92661)
Zoning Assessor
Interior
Cooling Wall/Window
Building
Lot Description Sidewalks
Story 2
Lot Size Range 1-3999 SF
Level or Stories 2 Story
Others
Monthly Total Fees $214
Acceptable Financing Cash, Conventional
Space Rent $82,095
Listing Terms Cash, Conventional
Listed by George Hanold • Times Real Estate CA
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