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$8,500,000

  • Sold
  • Closed
  • Multi-Family
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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.

Full Property Details for 1007 E Balboa Blvd

General

  • Sold For: $8,500,000
  • Status: Closed
  • Type: Multi-Family
  • Source: MRMLS
  • MLS ID: NP24109926
  • Added to Site: 249 day(s) ago

Interior

  • Rooms/Areas: Kitchen, Laundry, Living Room, Main Floor Bedroom
  • Fireplace(s): None
  • Appliances: Dishwasher, Freezer, Gas Oven, Gas Range, Microwave, Refrigerator

Rooms

Other Rooms

  • Laundry: Common Area, Individual Room, Inside

Additional Information

  • Pool Description: None
  • Spa Description: None

Parking

  • Parking Features: Driveway
  • Parking: Driveway

Location

  • Area: NP - Balboa Peninsula
  • County: Orange
  • Development Name: NP - Balboa Peninsula
  • Driving Directions: E Balboa Blvd. Beach side.

Heating & Cooling

  • Cooling Type: Wall/Window Unit(s)
  • Heating Type: Space Heater

Utilities

  • Sewer: Public Sewer
  • Water: Public
  • # Water Meters: 1
  • # Gas Meters: 1
  • # Electric Meters: 1

Structural Information

  • Stories/Levels: Two
  • Stories Description: Two
  • Square Feet: 4,704
  • Year Built: 1909

Unit Information

Unit 1

  • Number of Units: 10
  • Total Bathrooms: 1
  • Bedrooms: 1

Lot Features

  • Property View: Catalina, Coastline, Ocean, Panoramic, White Water
  • Lot Size (Acres): 0.0826
  • Lot Size Source: Assessor
  • Lot Description: Level with Street

Financial Considerations

  • Price Per Sq. Ft.: $1,806.97
  • Price Per Unit: 950000

Listed and Sold by Times Real Estate CA, George Hanold and Times Real Estate CA, Regan Beegle

Listing agents

— 1007 E Balboa Blvd —

  • George Hanold

    Times Real Estate CA

  • Regan Beegle

    Times Real Estate CA

949-836-5479

Get Pre-Approved Today

Be ready to buy your new home!

with our affiliated lender
NMLS#: 1598647

Get Pre-Approved

Be ready to buy your new home!

with our affiliated lender
NMLS#: 1598647

Get Pre-Approved

Schools serving 1007 E Balboa Blvd

School District:Newport-Mesa Unified School District
RatingNameGradesDistance
8
Newport Elementary School
1327 W Balboa Blvd, Newport Beach, CA 92661
K-61.3 mi
8
Ensign Intermediate School
2000 Cliff Dr, Newport Beach, CA 92663
7-81.7 mi
7
Newport Harbor High School
600 Irvine Ave, Newport Beach, CA 92663
9-121.8 mi
Disclaimer: School ratings provided by GreatSchools. Ratings are on a scale of 1-10. Learn more about GreatSchools ratings. School attendance boundaries provided by Pitney Bowes and are for reference only. Contact the school directly to verify enrollment eligibility.

Price & Sales History for 1007 E Balboa Blvd

Date
Details
Price
Change
Source
8/22/2024
Sold
$8,500,000
-10.53%
MLS
7/12/2024
Price Reduced
$9,500,000
-13.64%
MLS
6/20/2024
Price Reduced
$11,000,000
-15.35%
MLS
5/31/2024
Listed
$12,995,000
—
MLS
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.

Listed and Sold by Times Real Estate CA, George Hanold and Times Real Estate CA, Regan Beegle

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Listed by Tim Smith (CalRE#: 01346878)

1007 E Balboa Boulevard, Newport Beach, CA 92661 (MLS# NP24109926) is a Multi-Family property that was sold at $8,500,000 on August 22, 2024. Want to learn more about 1007 E Balboa Boulevard? Do you have questions about finding other Multi-Family real estate for sale in Newport Beach? You can browse all Newport Beach real estate or contact a Coldwell Banker agent to request more information.

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