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1320 W Balboa Boulevard

Newport Beach, CA 92661
  • $3,350,000
  • STATUS: Active
  • ON SITE: 52 Days
  • ID#: NP21194065
UPDATED: 39 min ago
$3,350,000
  • 0
    BEDS
  • 0.07
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Type:
Multi-Family
Built:
1955
County:

School Ratings & Info

Description

1320 W Balboa Blvd is a turnkey property situated in the perfect location on the famed Balboa Peninsula just steps between the beach and the bay. The R2 zoned property consists of two detached units that were fully remodeled down to the studs in 2018. Each unit has three bedrooms, two bathrooms, luxury vinyl flooring, upgraded kitchens, recessed lighting, HVAC and dedicated laundry. The rear unit also has an attached one bedroom one-bathroom unit that can be used as an additional bedroom, studio or owner suite on property with its own entrance. Entertain friends and family while catching the ocean breeze on one of the three open patio spaces or up on the spacious rooftop deck. Parking is not an issue with the attached two car garage and two covered carport spaces. Currently operated as a short term rental property with active permits on file, this is a great opportunity for a turnkey investment with historically strong rental income. Close to world class beaches, shopping, dining and dining, come see all that this amazing property and Newport Beach have to offer.

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Based on information from California Regional Multiple Listing Service, Inc. as of 2021-10-26T10:25:51.947. 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 deemed reliable but is not guaranteed accurate by the MLS or Keller Williams Realty. Licensed in the State of California, USA.
www.therealestategirl.com/homes/121131825
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1320 W Balboa Boulevard Newport Beach, CA 92661

  • Price: $3,350,000
  • Status: Active
  • Updated: 39 min ago
  • ID#: NP21194065
0
Beds
0
Baths
0
½ Baths
0.07
Acres
1955
Built
Neighborhood:
Balboa Peninsula (Residential) (Balp)
County:
Orange
Area:
NP - Balboa Peninsula
Property Description
1320 W Balboa Blvd is a turnkey property situated in the perfect location on the famed Balboa Peninsula just steps between the beach and the bay. The R2 zoned property consists of two detached units that were fully remodeled down to the studs in 2018. Each unit has three bedrooms, two bathrooms, luxury vinyl flooring, upgraded kitchens, recessed lighting, HVAC and dedicated laundry. The rear unit also has an attached one bedroom one-bathroom unit that can be used as an additional bedroom, studio or owner suite on property with its own entrance. Entertain friends and family while catching the ocean breeze on one of the three open patio spaces or up on the spacious rooftop deck. Parking is not an issue with the attached two car garage and two covered carport spaces. Currently operated as a short term rental property with active permits on file, this is a great opportunity for a turnkey investment with historically strong rental income. Close to world class beaches, shopping, dining and dining, come see all that this amazing property and Newport Beach have to offer.
Exterior Features

Architectural Style Bungalow Carport Spaces 2 Carport YN Yes Construction Materials Drywall Exterior Features Awning(S) Fencing Wood Foundation Details Slab Lot Features 2-5 Units/Acre Number Of Separate Electric Meters 2 Parking Features Attached CarportCarportGarageGarage Faces Rear Parking Total 4 Pool Features None Pool Private YN No Property Attached YN No Road Frontage Type City Street Road Surface Type Paved Roof Composition Spa Features None Spa YN No View CoastlineOceanPeek-A-Boo View YN Yes

Interior Features

Accessibility Features None Appliances DishwasherFreezerDisposalGas OvenGas RangeGas Water HeaterHigh Efficiency Water HeaterMicrowaveRefrigeratorRange HoodTankless Water HeaterVented Exhaust FanWater Heater Common Walls No Common Walls Cooling DuctlessWall/Window Unit(S) Cooling YN Yes Door Features Insulated Doors Fireplace Features None Fireplace YN No Flooring Vinyl Heating Ductless Heating YN Yes Interior Features Ceiling Fan(S)Granite CountersHigh CeilingsRecessed Lighting Window Features Double Pane WindowsInsulated Windows

Property Features

Additional Parcels YN No Association Fee 0 Association YN No Cable Tv Expense 1200 Common Interest None Community Features Storm Drain(S)Street LightsSuburbanSidewalks Contingency Sale is Contingent Upon Sellers identifying A Replacement PropertyBuyer To Cooperate With Sellers 1031 Exchange At No Cost To Buyer. Buyer To Assume Lease On Washer/ Dryer Lease in Back Unit Garage. Current Financing Conventional Electric 220 Volts in Garage Electric Expense 2400 Fuel Expense 600 Garage YN Yes Gross Income 159280 Gross Scheduled Income 159280 Insurance Expense 1000 Land Lease YN No Laundry Features Gas Dryer HookupLaundry ClosetIn GarageStacked Levels Multi/Split Listing Agreement Exclusive Right To Sell Listing Service Full Service Listing Terms 1031 ExchangeSubject To Other Net Operating Income 153536 New Construction YN No Number Of Separate Gas Meters 2 Number Of Separate Water Meters 2 Operating Expense 5744 Possession Close Plus 3 Days Property Condition Turnkey Property Sub Type Duplex Rent Control YN No Senior Community YN No Sewer Public Sewer Special Listing Conditions Standard Trash Expense 144 Utilities Cable ConnectedElectricity ConnectedNatural Gas ConnectedPhone ConnectedSewer ConnectedWater Connected Water Sewer Expense 400 Water Source Public

Listing provided courtesy of Tyler Brown of Compass


Based on information from California Regional Multiple Listing Service, Inc. as of 2021-10-26T10:25:51.947. 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 deemed reliable but is not guaranteed accurate by the MLS or Keller Williams Realty. Licensed in the State of California, USA.
 
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