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.
Sold for $2,375,000 on 05/02/23
Listing Provided by:
Philip Immel DRE #00545198 949-545-2820,
Pacific Sotheby's International Realty,
Ryan Immel DRE #01975613,
Pacific Sotheby's International Realty
$2,375,000
1140 W Balboa Blvd, Newport Beach, CA 92661
--beds
--baths
2,250sqft
Duplex
Built in 1955
-- sqft lot
$3,133,300 Zestimate®
$1,056/sqft
$7,166 Estimated rent
What's special
Zillow last checked: 7 hours ago
Listing updated: May 02, 2023 at 12:10pm
Listing Provided by:
Philip Immel DRE #00545198 949-545-2820,
Pacific Sotheby's International Realty,
Ryan Immel DRE #01975613,
Pacific Sotheby's International Realty
Bought with:
Philip Immel, DRE #00545198
Pacific Sotheby's International Realty
Ryan Immel, DRE #01975613
Pacific Sotheby's International Realty
Source: CRMLS,MLS#: OC22233646
Originating MLS: California Regional MLS

Facts & features
Interior
Appliances
- Laundry: In Garage
Features
- Common walls with other units/homes: No Common Walls
Interior area
- Total structure area: 2,250
- Total interior livable area: 2,250 sqft
Property
Parking
- Total spaces: 2
- Parking features: Garage
- Garage spaces: 2
Features
- Levels: One,Two
- Stories: 1
- Pool features: None
- Waterfront features: Across the Road from Lake/Ocean, Ocean Side Of Highway
Lot
- Size: 3,049 sqft
- Features: Rectangular Lot
Details
- Parcel number: 04726322
- Special conditions: Standard
Construction
Type & style
- Home type: MultiFamily
- Property subtype: Duplex
Condition
- New construction: No
- Year built: 1955
Utilities & green energy
- Sewer: Public Sewer
- Water: Public
Community & neighborhood
Community
- Community features: Sidewalks, Water Sports
Location
- Region: Newport Beach
- Subdivision: Balboa Peninsula (Residential) (Balp)
Other
Other facts
- Listing terms: Cash,Conventional,1031 Exchange
Services availability
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Estimated market value
$3,133,300