$1,670,000
$1,775,000
5.9%For more information regarding the value of a property, please contact us for a free consultation.
2,613 Sqft Lot
SOLD DATE : 10/29/2020
Key Details
Sold Price $1,670,000
Property Type Multi-Family
Listing Status Sold
Purchase Type For Sale
Subdivision Balboa Peninsula (Residential) (Balp)
MLS Listing ID OC20169375
Sold Date 10/29/20
Construction Status Updated/Remodeled
HOA Y/N No
Year Built 1947
Lot Size 2,613 Sqft
Acres 0.06
Property Description
This Newport Beach Peninsula Property and 'A' Location Duplex is located in the high demand rental area of Newport Beach. The asset consists of 100% two bedroom units located on a corner lot, across from the street from the ocean. The front unit on the main floor is nearly 900 sq ft and includes a spacious, private front patio area that’s ideal for entertaining. The top unit features a private balcony, provides some ocean views and sprawls out at nearly 700 sq ft. The property has 1 two-car garage, where there are washer and dryer hookups for the tenants and the property is separately metered for gas and electric. Largely in part of the tenant profile, the property has been very well maintained and consequently shows very well. One Unit was built in 1947, and the other unit was added in 2002.
This property is in an excellent central Newport Beach location. 42nd St is located in the ideal location on the Newport Beach Peninsula. Since the property is located on the other side of Balboa Boulevard, tenants can easily enjoy the proximity of the beach without any of the commotion. Given the strength of the overall apartment market within the city of Newport Beach, the property offers an investor the ability to capture quality tenants seeking a great neighborhood with convenient access to a wide variety of activities, transportation and retail amenities.
Rents are below market.
Location
State CA
County Orange
Area Np - Balboa Peninsula
Interior
Heating Natural Gas
Fireplace No
Appliance Dryer, Washer
Exterior
Garage Garage
Garage Spaces 2.0
Garage Description 2.0
Fence Brick
Pool None
Community Features Biking, Curbs, Gutter(s), Park, Storm Drain(s), Street Lights, Sidewalks
Utilities Available Cable Connected, Electricity Connected, Natural Gas Connected, Phone Connected, Sewer Connected, Water Connected
View Y/N Yes
View Ocean
Parking Type Garage
Total Parking Spaces 2
Private Pool No
Building
Lot Description 2-5 Units/Acre
Story 2
Entry Level Two
Sewer Public Sewer
Water Public
Level or Stories Two
New Construction No
Construction Status Updated/Remodeled
Others
Senior Community No
Tax ID 42329608
Energy Description 600.0
Acceptable Financing Cash to New Loan, Owner May Carry
Listing Terms Cash to New Loan, Owner May Carry
Financing Cash to New Loan
Special Listing Condition Standard
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Bought with Mark Bridge • Mark Bridge, Broker
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