1609 E Balboa Boulevard, Newport Beach, CA 92661

$2,349,000
2,756
SqFt
List Price
$2,349,000
Status
ACTIVE
MLS#
NP19161789
Year Built
1949
Living Sq. Ft
2,756
Lot Size
2,474
Acres
0.0568
Lot Location
Rectangular Lot, Park Nearby
Days on Market
105
Property Type
Multifamily
Property Sub Type
Quadruplex
Stories
Two Level
Neighborhood
Balboa Peninsula Point (Blpp)

Property Description

Presenting a wonderful opportunity for instant income is this charming quadruplex located seconds to both the beach and bay within the highly desirable neighborhood of Peninsula Point. Encompassing (1) two-bedroom, one-bathroom unit and (3) one-bedroom, one-bathroom units, the property allows plenty of space for the future owner or manager to live on-site for easy property management. Three single garages provide additional storage and opportunity for income - previously rented at rate of $200/mo per garage. Given the high demand of the Newport Beach rental market, the future owner of this premier property has the potential to gross approximately $167,000/ year on all units and garages combined. Surrounded by multi-million dollar homes near the Fun Zone, countless shops and restaurants, this picturesque coastal residence is the perfect investment and place to call to home.

Additional Information

Tract Number
518
Lot Description
Sidewalks
Appliances
Built-In Range, Gas Range, Gas Water Heater, Refrigerator
Pool Description
None
Fireplace Description
Living Room
Heat
Wall Furnace
Cooling Description
None
Garage Spaces Total
3
Sewer
Public Sewer
Water
Public
Attached Structure
Detached
Total Number of Units
4

Mortgage Calculator

Amount of Loan
Annual Interest Rate
%
Term of Loan
Years

Does not include any taxes or fees.
Please consult a financial professional.
Calculator source: Real Geeks

Listing courtesy of Tim Smith from Coldwell Banker Res. Brokerage

Based on information from California Regional Multiple Listing Service, Inc. as of . This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.