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1028 W Balboa Blvd

Newport Beach, CA 92661
  • $2,595,000
  • STATUS: Active
  • ON SITE: 19 Days
  • MLS #: 21-100203
UPDATED: 81 min ago
$2,595,000
  • 5
    BEDS
  • 0.07
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
  • 2,590
    SQFT
  • $1,002
    $/SQFT
Neighborhood:
Type:
Multi-Family
Built:
1964
County:

School Ratings & Info

Description

Located steps from the beach and bay, this triplex presents the golden opportunity for an investor to purchase a trophy-location residential income asset in the heart of the highly sought-after Balboa Peninsula. 1028 W Balboa consists of three well-maintained units: a spacious two-bed/one-bath front unit, a completely renovated and turn-key one-bed/one-bath middle unit, and an even larger two-bed/one-bath back unit with a private balcony. The ally-facing carport features parking for three large cars plus locking storage. As a legal grandfathered triplex, this property's incredible location and key zoning offers tremendous upside for investors and provides buyers seeking to owner-occupy the opportunity to cash flow two units while living in one. Centrally located just blocks from numerous top-notch restaurants, premier retail destinations, and leisure activities. When considering the sum of great wealth accumulation through asset appreciation, along with the in-demand area's continuous growth in rental demand, this property is an ideal investment with great asset security for any smart investor looking to own on the coveted Balboa Peninsula. PROPERTY VIDEO: https://youtu.be/QI8Mane_H0U

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Based on information from the Combined LA/Westside Multiple Listing Service as of 2021-12-01T09:42:21.007. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
www.haciendagroupinc.com/homes/123219619
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1028 W Balboa Blvd Newport Beach, CA 92661

  • Price: $2,595,000
  • Status: Active
  • On Site: 19 Days
  • Updated: 81 min ago
  • MLS #: 21-100203
5
Beds
0
Baths
0
½ Baths
0.07
Acres
2,590
SQFT
$1,002
$/SQFT
1964
Built
Neighborhood:
Balboa Peninsula
County:
Orange
Area:
Balboa Peninsula
Property Description
Located steps from the beach and bay, this triplex presents the golden opportunity for an investor to purchase a trophy-location residential income asset in the heart of the highly sought-after Balboa Peninsula. 1028 W Balboa consists of three well-maintained units: a spacious two-bed/one-bath front unit, a completely renovated and turn-key one-bed/one-bath middle unit, and an even larger two-bed/one-bath back unit with a private balcony. The ally-facing carport features parking for three large cars plus locking storage. As a legal grandfathered triplex, this property's incredible location and key zoning offers tremendous upside for investors and provides buyers seeking to owner-occupy the opportunity to cash flow two units while living in one. Centrally located just blocks from numerous top-notch restaurants, premier retail destinations, and leisure activities. When considering the sum of great wealth accumulation through asset appreciation, along with the in-demand area's continuous growth in rental demand, this property is an ideal investment with great asset security for any smart investor looking to own on the coveted Balboa Peninsula. PROPERTY VIDEO: https://youtu.be/QI8Mane_H0U
Exterior Features

Carport Spaces Total 3 Lot Size Area 3049 Other Structures Other Parking Garage Built-In StorageCarportCovered Parking Patio Features Balcony Total Parking 3

Interior Features

Baths Total 3.00 Cooling None Equipment Other Flooring Ceramic Tile Heating Other

Property Features

Assessed Total Value 528672 Gross Income 56700 Gross Operating Income 55566 Like Units1 1 Like Units2 1 Like Units3 1 Net Operating Income 23207.00 Number Of Buildings 1 Number Of Units 3 Sale Type Standard Source Living Area Other Source Lot Size Area Other Source Lot Size Dimensions Other Total Annual Expense 32359 Type Of Units Apartments Water Heaters YN Yes Year Built Source Other Zoning R2

Listing provided courtesy of Andrew Kaiser DRE# of Matthews Real Estate Investment Services.


Based on information from the Combined LA/Westside Multiple Listing Service as of 2021-12-01T09:42:21.007. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
 
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77935 Calle Tampico # 201
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