1213 W Balboa BLVD, Newport Beach, CA 92661 – NP25069687

$2,700,000

$3,100,000 12.9%

Est. payment - /mo

3,049 Sqft Lot

UPDATED:

Key Details

Sold Price $2,700,000

Property Type Single Family Home, Multi-Family

Sub Type Triplex

Listing Status Sold

Purchase Type For Sale

Subdivision Balboa Peninsula (Residential) (Balp)

MLS Listing ID NP25069687

Year Built 1952

Lot Size 3,049 Sqft

Property Sub-Type Triplex

Property Description

Outstanding investment opportunity for the buyer with a vision. Just one house to the beach and very close to all that Balboa Peninsula offers. This two story triplex offers exceptional long term rental income, close proximity to the oceanfront and plenty of garage and parking space for all units. Tenants enjoy the use of the laundry room, relaxing areas in the courtyard or front patio. This property has been upgraded over the last five years and can be used as rentals yearly or summer/winter rentals to maximize income stream. There are two units with 2 bedrooms 2 bathrooms and one unit over the garage with 1 bedroom and 1 bathroom. All units are currently occupied. Next door is 1209 W. Balboa and is the exact mirror of 1213. Buy one or buy both and create a development project with high enough build to enjoy white water views year round for the upper units. The highest and best use of this land would be to build stacked condo's with elevators and balconies. The city of Newport Beach has consulted with an architect on the possible future development of 1209 and 1213 W. Balboa. Hurry because this type of property sells fast in Newport Beach, Balboa‌‌‌‌‌‌‌‌‌‌‌‌ Peninsula.

Location

State CA

County Orange

Area Np - Balboa Peninsula

Zoning R2

Interior

Heating Wall Furnace

Cooling None

Flooring Carpet, Laminate

Fireplaces Type None

Laundry Common Area

Exterior

Parking Features Assigned

Garage Spaces 3.0

Garage Description 3.0

Pool None

Community Features Storm Drain(s), Street Lights, Sidewalks, Water Sports

Utilities Available Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected

Waterfront Description Beach Access,Ocean Side Of Highway

View Y/N No

View None

Building

Lot Description 2-5 Units/Acre, Rectangular Lot

Story 2

Foundation Slab

Sewer Public Sewer

Water Public

New Construction No

Others

Acceptable Financing Cash, Cash to New Loan, 1031 Exchange

Listing Terms Cash, Cash to New Loan, 1031 Exchange

Special Listing Condition Standard, Trust

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Listed by Karly Brown Karly Brown, Broker 949-355-8006
Bought with Tara McNabb Compass

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Jason Born

Broker | License ID: 02002900

+1(650) 918-7048

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1213 W Balboa BLVD Newport Beach, CA 92661