Newport Beach, CA 92661,1140 W Balboa BLVD
Newport Beach, CA 92661,1140 W Balboa BLVD
Newport Beach, CA 92661,1140 W Balboa BLVD
74
$2,375,000
$2,495,000
4.8%
Est.Price: ?

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3,049 Sqft Lot

1140 W Balboa BLVD Newport Beach, CA 92661

Est. payment /mo
SOLD DATE : 05/02/2023

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Key Details

Sold Price $2,375,000

Property Type Multi-Family

Sub Type Duplex

Listing Status Sold

Purchase Type For Sale

Subdivision Balboa Peninsula (Residential) (Balp)

MLS Listing ID OC22233646

Sold Date 05/02/23

HOA Y/N No

Year Built 1955

Lot Size 3,049 Sqft

Property Description

A unique opportunity to acquire a Residential Duplex on Balboa Boulevard in Newport Beach, CA. The Residential Duplex consists of a one unit that is comprised of a 3 bedroom / 2 bathroom and another unit that is a 2 bedroom /1 bathroom. Both units are currently on MTM Leases at below market rent, which allows an investor the opportunity to bring the units to market rent. In addition, the duplex currently zoned for R-2, which allows for short term lodging (less than 30 consecutive days) with a city permit.
The subject property is located in Newport Beach, CA, specifically in the affluent neighborhood of Balboa Peninsula. The duplex is ideally located on Balboa Boulevard near 11th street, which is a couple blocks from the beach and the bay. commonly known as the Balboa Peninsula of Newport Beach, CA. The property is within walking distance to Newport Pier, Marina Park, Newport Elementary School, the Balboa Fun Zone and numerous restaurants and shops. The duplex is within a few miles of Hoag Hospital, which regionally and nationally ranked by U.S. News & World Report.

Location

State CA

County Orange

Area Np - Balboa Peninsula

Interior

Fireplace No

Laundry In Garage

Exterior

Garage Spaces 2.0

Garage Description 2.0

Pool None

Community Features Sidewalks, Water Sports

Waterfront Description Across the Road from Lake/Ocean,Ocean Side Of Highway

Total Parking Spaces 2

Private Pool No

Building

Lot Description Rectangular Lot

Story 1

Entry Level One,Two

Sewer Public Sewer

Water Public

Level or Stories One, Two

New Construction No

Others

Senior Community No

Tax ID 04726322

Acceptable Financing Cash, Conventional, 1031 Exchange

Listing Terms Cash, Conventional, 1031 Exchange

Financing Cash

Special Listing Condition Standard

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California Regional MLS (CRMLS)
Listed by Philip Immel • Pacific Sotheby's International Realty
Bought with Philip Immel • Pacific Sotheby's International Realty

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