1007 E Balboa Boulevard, Newport Beach, CA 92661

$11,300,000
List Price
$11,300,000
Price Change
▼ $500,000 1654221194
Status
ACTIVE
MLS#
OC22069325
Year Built
1909
Lot Size
3,485
Acres
0.08
Lot Location
Item01UnitAcre, Level, NearPark
Days on Market
83
Property Type
Multifamily
Stories
Two Levels
Neighborhood
Other (Othr)

Property Description

10 Profitable rental units! This is a rare investment opportunity, located ocean front on the Balboa Peninsula between the pier and the wedge. You will not find another ocean front investment opportunity on the Peninsula with 10 units at this price. The property comes with short term rental permits, the current waiting list for permits it's 100's deep. The units are furnished, professionally designed, recently remodeled, and fully operating. Stop into a fully operating successful vacation rental, earning income day one. Four of the units feature unobstructed panoramic views of the ocean, Catalina and sunsets. Enjoy all ocean front living on the Peninsula has to offer including the beach, the waves, beautiful sunsets, the pier and park. Ample entertainment options like the Balboa Fun Zone, ferry to Balboa Island, shops and great restaurants are just a short walk away. Your own porch right on the beach, ocean view of the world famous wedge to the Balboa Pier, you can't beat this location. Boogie board, surf, bike, stroll the pier and board walk, play at the ocean front park and grab a coffee at one of the many cafes. There are three driveway parking spots and coin operating inside laundry room for the tenants.

Additional Information

Pool Description
None
View
Ocean
Sewer
Public Sewer
Water
Public
Attached Structure
Detached
Number Of Units Total
10
Gross Scheduled Income
$688,000
Operating Expense
303000

Mortgage Calculator

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Please consult a financial professional.
Calculator source: Real Geeks

Listing courtesy of Listing Agent: Shevy Akason from Listing Office: Keller Williams Realty N. Tustin

Based on information from California Regional Multiple Listing Service, Inc. as of . 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.