Bought with George Hanold
$8,500,000
$9,500,000
10.5%For more information regarding the value of a property, please contact us for a free consultation.
1007 E Balboa BLD Newport Beach, CA 92661
3,600 Sqft Lot
Key Details
Sold Price $8,500,000
Property Type Commercial
Listing Status Sold
Purchase Type For Sale
MLS Listing ID CRNP24109926
Year Built 1909
Lot Size 3,600 Sqft
Property Description
A remarkable opportunity to own 10 Units on the Oceanfront of the Balboa Peninsula with 7 Irreplaceable STR's (SHORT TERM RENTAL PERMITS)! This is a dream deal w/ a monster cap rate and a whopping $640,000 NET income in 2023! Located almost perfectly right next to Balboa Pier, Balboa Fun Zone, Balboa Ferry, Market & Deli, Shopping, Restaurants, Arcades, and More. Each unit is remodeled and ready to be rented immediately. 4 of the Units are directly facing the oceanfront with spectacular panoramic views, including the Pier. Priced to sell and motivated deal. APN 048-146-04 (additional 1,519 sqft parcel on sand/beach) also included.
Location
State CA
County Orange
Area Np - Balboa Peninsula
Rooms
Kitchen Dishwasher, Freezer, Microwave, Oven Range - Gas, Refrigerator, Oven - Gas
Interior
Heating Space Heater
Cooling Window / Wall Unit
Laundry In Laundry Room, Laundry Area, Other
Exterior
Parking Features Other
Garage Spaces 3.0
Pool 31, None
View Ocean, Other, Panoramic, Water
Building
Lot Description Grade - Level
Water District - Public
Others
Special Listing Condition Not Applicable
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