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Listing 3 out of 343
$5,400,000 For Sale

1216 W Balboa Boulevard
Newport Beach, CA 92661

7 units | Multi Family Home
6098 sq ft lot - MLS# CV19201913
Property Photo
1/17

Description

Highly desirable 7 unit multifamily coastal property on the sought-after Balboa Blvd strip. Popular unit mix of 4 two bedrooms and two baths and 3 two bedrooms and 1 bath. Well maintained and very low maintenance building. Operates at 100% full occupancy with long term career professionals as tenants. All units are remodeled, upgraded and turnkey. New owners will not have to do anything. In addition, there is room to increase rents. Perfect upleg in a 1031 exchange. Will not last long and priced to sell.

Features

  • Property Type: Multi Family Home
  • Sub Type: Multi Family Home
  • Listing Status: Active
  • Zip Code: 92661
  • Year Built: 1949
  • Subdivision/Neighborhood: Balboa Peninsula Point (Blpp)
  • Stories: Two
  • Units: 7 units
  • # of Parking Spaces: 6.00
  • Lot Size: 6098 sq ft lot
  • Area: NP - Balboa Peninsula
  • Average 2 Bed Area Units: Square Feet
  • Average 3 Bed Area Units: Square Feet
  • Average Studio Area Units: Square Feet
  • Building Area Total: 5382.00
  • Building Area Units: Square Feet
  • Common Walls: 1 Common Wall
  • Community Features: Watersports
  • Cooling: Wall/Window Unit(s)
  • Cooling YN: Yes
  • Country: US
  • Directions: Please check google maps
  • Electric Expense: 666.00
  • Fuel Expense: 694.00
  • Garage Spaces: 6.00
  • Gross Income: 17500.00
  • Gross Scheduled Income: 210905.00
  • Insurance Expense: 2675.00
  • Laundry Equipment Own Lease: Lease
  • Laundry Features: Community
  • Laundry Income: 905.00
  • Laundry YN: Yes
  • List Price Low: 5399999.00
  • Listing Agent License: 01317826
  • Listing Office License: 01317826
  • Lot Features: 0-1 Unit/Acre
  • Lot Size Area: 6098.0000
  • Lot Size Source: Assessor
  • Lot Size Units: Square Feet
  • MLS: CRM
  • Net Operating Income: 166694.00
  • New Taxes Expense: 68750.00
  • Number Of Buildings: 1
  • Number Of Separate Electric Meters: 7
  • Number Of Separate Gas Meters: 7
  • Number Of Units Leased: 7
  • Operating Expense: 43306.00
  • Other Income Description: gross income listed is per mon
  • Property Attached YN: Yes
  • Stories Total: 2
  • Total Actual Rent: 17500.00
  • Total Expenses: 74848.00
  • Trash Expense: 2063.00
  • Water Sewer Expense: 2063.00
  • Water Source: Other
  • Year Built Source: Assessor
Courtesy of The C. Lee Group, Christine Lee

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 Dan Scodeller 
Dan Scodeller
CA DRE #01915971
949-444-3697
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