1811 W Balboa Boulevard,  Newport Beach CA, 92663 (Residential Income)

2,525 sqft
Status: Sold
MLS#: RS15080576
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Last Updated: 12/6/2016 8:39 AM
Description for 1811 W Balboa Boulevard Newport Beach, CA 92663
Absolutely MASSIVE price reduction. An 'as is" bargain. Termite report and inspection report on file. The absulute best location with high gross. Not triplex deal like this.Ocean side of Balboa Blvd, 100 feet from the sand. No busy street to cross. And the best gross multiplier on the peninsula. This is 3 units consisting of a 2 bd, 1 bath detached house in front, a 1, bd, 1 bath lower unit, and a 2 bd 2 bath upper unit in the rear that was added in 1982. There is a separate laundry for the use of all units and there are three carports. The potential here is tremendous. And the summer rentals are booking up! A cash cow! All units are fully furnished including big screen tv's and are used as summer/winter rentals. The owner will help with training the buyer and showing how he has done it for years. There is upside potential for rents. The highest gross and lowest rent multiplier on the peninsula for a building like this makes it a spectacular investment. While subject to a 1031 exchange there is not a problem with escrow times. if you are looking for a beach rental that makes economic sense,, this is it. THE LISTED RENTS ARE WINTER ONLY. CALL FOR INFO ON SUMMER AMTS. Available to show anytime.
Price
Sold Price:
$1,700,000
Sold Date:09/01/2015
Orange
2,525 (approx)
RS15080576
Closed
Description
Absolutely MASSIVE price reduction. An 'as is" bargain. Termite report and inspection report on file. The absulute best location with high gross. Not triplex deal like this.Ocean side of Balboa Blvd, 100 feet from the sand. No busy street to cross. And the best gross multiplier on the peninsula. This is 3 units consisting of a 2 bd, 1 bath detached house in front, a 1, bd, 1 bath lower unit, and a 2 bd 2 bath upper unit in the rear that was added in 1982. There is a separate laundry for the use of all units and there are three carports. The potential here is tremendous. And the summer rentals are booking up! A cash cow! All units are fully furnished including big screen tv's and are used as summer/winter rentals. The owner will help with training the buyer and showing how he has done it for years. There is upside potential for rents. The highest gross and lowest rent multiplier on the peninsula for a building like this makes it a spectacular investment. While subject to a 1031 exchange there is not a problem with escrow times. if you are looking for a beach rental that makes economic sense,, this is it. THE LISTED RENTS ARE WINTER ONLY. CALL FOR INFO ON SUMMER AMTS. Available to show anytime.
Listing Information
Property Type: Cluster, Traditional, 2 Story
0.06 Acres 2,563 sq.ft. 2,525 (approx)
1952 Yes- 3 spaces
2
Gas Water Heater, Water Meter, Public Water Servic
Sewer Connected
Natural Gas
3 Total
Neighborhood
Room Information
First Floor Bedroom
Gas Dryer Hookup
Interior Features
Refrigerator, Dryer, Washer
Carpet and Other
None
Wall Unit
No Fireplace
Furnished
Exterior / Lot Features
3 Garage Spaces, 6 Parking Spaces, Unassigned
Flat, Shake
None
No Pool
Gutters, Curbs Walk
Financial Considerations
04717323
$3,437
$117,600 Income ,$32,809Expense
Listing Price History

Newport Beach Real Estate

Newport Beach is located in California. Newport Beach, California 92663 has a population of 85,323.

The median household income in Newport Beach, California 92663 is $109,677. The median household income for the surrounding county is $75,566 compared to the national median of $53,046. The median age of people living in Newport Beach 92663 is 43.8 years.

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Courtesy: T N G Real Estate Consultants Mike Bryant
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