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$2,514,343*
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Multifamily -
Off Market
1140 W Balboa Boulevard
Newport Beach, CA 92661
5 Beds
3 Baths
2250 Sqft
$2,246,000 - $2,744,000
Reference Base Price*
0.78%
Since Jun 1, 2023
National-US
Primary Model
About This Property
A unique opportunity to acquire a Residential Duplex on Balboa
Boulevard in Newport Beach, CA. The Residential Duplex consists of
a one unit that is comprised of a 3 bedroom / 2 bathroom and
another unit that is a 2 bedroom /1 bathroom. Both units are
currently on MTM Leases at below market rent, which allows an
investor the opportunity to bring the units to market rent. In
addition, the duplex currently zoned for R-2, which allows for
short term lodging (less than 30 consecutive days) with a city
permit.The subject property is located in Newport Beach, CA,
specifically in the affluent neighborhood of Balboa Peninsula. The
duplex is ideally located on Balboa Boulevard near 11th street,
which is a couple blocks from the beach and the bay. commonly known
as the Balboa Peninsula of Newport Beach, CA. The property is
within walking distance to Newport Pier, Marina Park, Newport
Elementary School, the Balboa Fun Zone and numerous restaurants and
shops. The duplex is within a few miles of Hoag Hospital, which
regionally and nationally ranked by U.S. News & World Report.
Affluent demographics in the immediate trade area include $247,000
with a 1 mile radius and an estimated population of 82,000 within a
3-mile radius.
The manager has listed the unit size as 2250 square feet.
The manager has listed the unit size as 2250 square feet.
Unit Size
2,250Ft²
Days on Market
-
Land Size
0.07 acres
Price per sqft
$1,109
Property Type
Multifamily
Property Taxes
-
HOA Dues
-
Year Built
-
Price History
Date / Event | Date | Event | Price |
---|---|---|---|
May 3, 2023 | No longer available | - | |
No longer available | |||
Feb 28, 2023 | In contract | - | |
In contract | |||
Nov 2, 2022 | Listed | $2,495,000 | |
Listed |
Property Highlights
Comparables
Unit
Status
Status
Type
Beds
Baths
ft²
Price/ft²
Price/ft²
Asking Price
Listed On
Listed On
Closing Price
Sold On
Sold On
HOA + Taxes
Past Sales
Date | Unit | Beds | Baths | Sqft | Price | Closed | Owner | Listed By |
---|
Building Info
1140 Balboa Boulevard West
1140 Balboa Boulevard West, Newport Beach, CA 92661
- 1 Unit for Sale