324 Otero
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What does this mean?
Based on our analysis, the cap rate of this property is 1.25%. A negative cap rate indicates that the property might not be feasible as an income-producing asset. The median cap rate for a near zip code 11238 is 4.23%.
How much can I actually make?
Actual monthly rental income may vary between $4,760 and $7,140 depending on unit-specific characteristics. You can change the amount using the slider to further explore.
How is cap rate calculated?
Cap Rate = Net Operating Income (NOI) / Property Asset Value.
When calculating the cap rate, we assume 100% occupancy. Leverage (mortgage) is not considered.
Cap Rate provided by RealtyHop and RentHop, learn more about cap rate here.
Price History
| Date / Event | Date | Event | Price |
|---|---|---|---|
| Apr 11, 2025 | Sold | ||
| Sold | |||
| Jan 29, 2025 | Listed by Compass | $2,495,000 | |
| Listed by Compass | |||
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Welcome to 324 Otero, a beautifully reimagined residence that perfectly embodies the essence of coastal elegance in Newport Beach's desirable Bluffs community. This three-bedroom, two-and-a-half-bathroom home was meticulously redesigned in 2016, with additional updates in 2024, to fully capitalize on its stunning panoramic views of the Back Bay, mountains, city lights, and even Disneyland's fireworks. The unique layout, transformed from the original "Trina" plan, features a lower level adorned with exquisite French limestone flooring. Its open-concept design seamlessly integrates the kitchen, living, dining, and sitting areas, all offering breathtaking views of the Back Bay. The gourmet kitchen is a chef's delight, boasting quartz countertops, a spacious center island, a premium 8 burner Wolf range with double ovens, and custom cabinetry with ample storage. The outdoor patio is perfect for entertaining or enjoying serene sunsets, with a beautifully landscaped greenbelt backdrop ideal for gatherings. Enjoy the coastal lifestyle with nearby beaches and vibrant local Newport Beach amenities.
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| Nov 19, 2023 | No longer available | - | |
| No longer available | |||
| Nov 8, 2023 | In contract | - | |
| In contract | |||
| Oct 17, 2023 | Price Decreased |
$2,399,000
↓ $71K
(2.9%) | |
| Price Decreased | |||
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017