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1212 W Balboa Boulevard

Newport Beach, CA 92661
  • $2,800,000
  • STATUS: Active
  • ON SITE: 26 Days
  • ID#: OC22158036
UPDATED: 29 min ago
$2,800,000
  • 0
    BEDS
  • 0.07
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Multi-Family
Built:
1948
County:

School Ratings & Info

Listing Agent(s): Tyler Leeson of Marcus & Millichap Re Invest (949-419-3200)


Description

1212 West Balboa Boulevard is a 3-unit multifamily investment property located on the affluent and highly desirable Balboa Peninsula, one of the premier coastal housing markets in Southern California. Built in 1948 and 1961, 1212 West Balboa Boulevard offers an excellent mix of 1, one-bedroom unit and 2, two-bedroom units. The property features community amenities including 2 single-car garages, 1 surface parking space, and on-site laundry as well as unit amenities including recessed lighting and ceiling fans. All three units were last renovated between 2009 and 2013 and through a unit modernization plan a new owner could achieve substantial rental upside. 1212 West Balboa Boulevard is situated in Newport Beach, just steps from world famous beaches, Newport Elementary School, and the Marina Park Community Center. The property is also located just a short drive from the numerous boutiques, high-end restaurants, and popular entertainment destinations spread across the peninsula.

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Based on information from California Regional Multiple Listing Service, Inc. as of 2022-08-14T11:27:45.443. 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 or American Real Estate List & Sell. Licensed in the State of California, USA.
www.americanrealestatehomes.com/homes/131027646
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1212 W Balboa Boulevard Newport Beach, CA 92661

  • Price: $2,800,000
  • Status: Active
  • On Site: 26 Days
  • Updated: 29 min ago
  • ID#: OC22158036
0
Beds
0
Baths
0
½ Baths
0.07
Acres
1948
Built
Neighborhood:
699 - Not Defined
County:
Orange
Area:
699 - Not Defined
Property Description
1212 West Balboa Boulevard is a 3-unit multifamily investment property located on the affluent and highly desirable Balboa Peninsula, one of the premier coastal housing markets in Southern California. Built in 1948 and 1961, 1212 West Balboa Boulevard offers an excellent mix of 1, one-bedroom unit and 2, two-bedroom units. The property features community amenities including 2 single-car garages, 1 surface parking space, and on-site laundry as well as unit amenities including recessed lighting and ceiling fans. All three units were last renovated between 2009 and 2013 and through a unit modernization plan a new owner could achieve substantial rental upside. 1212 West Balboa Boulevard is situated in Newport Beach, just steps from world famous beaches, Newport Elementary School, and the Marina Park Community Center. The property is also located just a short drive from the numerous boutiques, high-end restaurants, and popular entertainment destinations spread across the peninsula.
Exterior Features

Lot Features Street Level Number Of Separate Electric Meters 3 Open Parking Spaces 1 Parking Total 3 Pool Features None Pool Private YN No Property Attached YN No

Interior Features

Common Walls No Common Walls

Property Features

Additional Parcels YN No Common Interest Community Apartment Community Features CurbsSidewalks Electric Expense 0 Fuel Expense 627.5 Garage YN Yes Gross Income 90600 Gross Scheduled Income 90000 Insurance Expense 1500 Land Lease YN No Laundry Features Common Area Levels OneTwo Listing Agreement Exclusive Right To Sell Listing Service Full Service Listing Terms Cash To New Loan1031 Exchange Maintenance Expense 2100 Net Operating Income 51158 New Construction YN No New Taxes Expense 29460 Number Of Separate Gas Meters 3 Number Of Separate Water Meters 1 Number Of Units Leased 3 Operating Expense 36742 Other Expense 2427 Rent Control YN Yes Senior Community YN No Sewer Public Sewer Special Listing Conditions Standard Total Actual Rent 7500 Trash Expense 0 Vacancy Allowance 2700 Water Sewer Expense 627.5 Water Source Public



Based on information from California Regional Multiple Listing Service, Inc. as of 2022-08-14T11:27:45.443. 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 or American Real Estate List & Sell. Licensed in the State of California, USA.
 
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American Real Estate List & Sell
6391 Magnolia Ave., B20
Riverside CA, 92505
Listing Agent(s): Tyler Leeson of Marcus & Millichap Re Invest (949-419-3200)