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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

    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.

    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#: OC22233646MLS LogoOriginating 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