Sold
Closed
1007 E Balboa Boulevard
Newport Beach CA, 92661
$8,500,000
$1,806.97 per sqft
Sold
Closed
4,704 sqft
Multi-family
Built in 1909
Listed by George Hanold with Times Real Estate CA 949-836-5479
A remarkable opportunity to own 10 Units on the Oceanfront of the Balboa Peninsula with 7 Irreplaceable STR's (SHORT TERM RENTAL PERMITS)! This is a dream deal w/ a monster cap rate and a whopping $640,000 NET income in 2023! Located almost perfectly right next to Balboa Pier, Balboa Fun Zone, Balboa Ferry, Market & Deli, Shopping, Restaurants, Arcades, and More. Each unit is remodeled and ready to be rented immediately. 4 of the Units are directly facing the oceanfront with spectacular panoramic views, including the Pier. Priced to sell and motivated deal. APN 048-146-04 (additional 1,519 sqft parcel on sand/beach) also included.
NP24109926
MLSⓇ ID
May 31, 2024
Listed
December 5, 2024
Updated
Map
1007 E Balboa Boulevard
Newport Beach CA, 92661
Interior Features
Total Stories
2
Interior Features
Bedroom on Main Level
Appliances
Dishwasher, Freezer, Gas Oven, Gas Range, Microwave, Refrigerator
Laundry Description
Common Area, Inside, Laundry Room
Fireplace
No
Fireplace Description
None
Cooling
Yes
Cooling Description
Wall/Window Unit(s)
Heating
Yes
Heating Description
Space Heater
Exterior/Building Features
Lot Size
0.08 Acres
Lot Features
Street Level
Sewer
Public Sewer
Other Property Details
Area Name
NP - Balboa Peninsula
Days on Market
56
Garage
No
Parking
Driveway
Parking Total
3
View
Yes
View Description
Catalina, Coastline, Ocean, Panoramic
County
Orange
Water Source
Public
Pool
No
Pool Features
None
Waterfront
Yes
Listing History
Date | Event | Price |
|---|---|---|
8/22/2024 | Sold | $8,500,000 |
8/22/2024 | Pending | — |
7/12/2024 | Price change | $9,500,000 -14% |
6/20/2024 | Price change | $11,000,000 -16% |
Listing Contact: 949-836-5480
Based on information from the California Regional Multiple Listing Service (CRMLS) as of 12/5/2024. 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, the 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. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. Any offer of compensation is made only to participants of the MLS where the listing is filed.
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Data last updated on 12/5/2024 at 9:30 AM UTC