For more information regarding the value of a property, please contact us for a free consultation.
1007 East Balboa Boulevard Newport Beach, CA 92661
Want to know what your home might be worth? Contact us for a FREE valuation!
Our team is ready to help you sell your home for the highest possible price ASAP
Key Details
Sold Price $8,500,000
Property Type Single Family Home
Listing Status Sold
Purchase Type For Sale
Square Footage 4,704 sqft
Price per Sqft $1,806
Subdivision Balboa Peninsula (Residential)
MLS Listing ID NP-24109926
Sold Date 08/22/24
Year Built 1909
Lot Size 3,600 Sqft
Property Description
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.
Location
State CA
County Orange
Interior
Heating Space Heater
Cooling Wall/Window Unit(s)
Fireplaces Type None
Laundry Common Area, Individual Room, Inside
Exterior
Parking Features Driveway
Pool None
Community Features Biking, Park, Sidewalks, Street Lights
View Y/N Yes
View Panoramic, Ocean, White Water, Catalina, Coastline
Building
Lot Description Level with Street
Sewer Public Sewer
Read Less