1209 W Balboa BLVD new Save Request In-Person Tour Request Virtual Tour
Newport Beach,CA 92661
Key Details
Property Type Multi-Family
Sub Type Triplex
Listing Status Active
Purchase Type For Sale
MLS Listing ID NP25068186
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 the Balboa Peninsula offers. This two story triplex offers exceptional long term rental income, close proximity to the oceanfront and plenty of parking/garage 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 5 years and can be used as rentals yearly or summer/winter rentals to maximize income stream. There are two units with 2 bedrooms and 2 bathrooms and one unit over garage is 1 bedroom and 1 bathroom. All units are currently occupied. Next door is 1213 W. Balboa and is the exact mirror of 1209. Buy one or buy both and create a development project with a high enough build to enjoy white water views year round from the upper units. The highest and best use would be 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
Interior
Heating Wall Furnace
Cooling None
Flooring Laminate
Fireplaces Type None
Laundry Common Area
Exterior
Parking Features Assigned,Door-Single,Garage,Garage Faces Rear,Tandem,Uncovered
Garage Spaces 3.0
Garage Description 3.0
Pool None
Community Features Storm Drain(s),Street Lights,Sidewalks,Water Sports
Utilities Available Cable Available,Electricity Connected,Natural Gas Connected,Sewer Connected,Water Connected
Waterfront Description Beach Access
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