Listed by Shevy Akason, Keller Williams Realty N. Tustin,

1007 E Balboa Boulevard

Newport Beach, CA, 92661

$10,280,000

$2,185 per ft²
$10,280,000
$2,185 per ft²
Active
Active
 - For Sale
carpenters-square
4,704 ft²
property_type
Multi-family
calendar
Built 1909
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.
MLS® ID:
OC22069325
Listed:
4/11/22
Updated:
11/28/22

Interior Features

Total Bedrooms
0
Total Bathrooms
0
Laundry Description
Common Area, Inside, Laundry Room

Exterior/Building Features

Lot Size
3,485 ft² lot
Lot Details
0-1 Unit/Acre, Level, Near Park
Sewer
Public Sewer

Other Property Details

Area Name
NP - Balboa Peninsula
HOA Amenities
Street Lights, Sidewalks, Park
Garage
No
Parking
Driveway
View
Y
County
Orange
Water Source
Public
Pool
No
Pool Description
None
Total Stories
2

Property History

Date
Event
Price
Value
10/11/22
Price Change
$10,280,000
-1%
9/1/22
Price Change
$10,480,000
-2%
8/10/22
Active
-
-
8/1/22
Active Under Contract
-
-
7/7/22
Price Change
$10,800,000
-4%
6/2/22
Price Change
$11,300,000
-4%

Courtesy of Keller Williams Realty N. Tustin, Shevy Akason,
Listing Contact:  

Based on information from California Regional Multiple Listing Service, Inc. as of 11/28/22. 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.

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Data last updated 10:33 PM UTC, 11/28/22

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