501 Park Avenue
501 Park Avenue
Description
Situated in the heart of Balboa Island, this property enjoys a prime location in one of Newport Beach’s most coveted neighborhoods. Surrounded by quaint shops, charming cafes, and scenic waterfront vistas, residents and visitors alike are drawn to the vibrant energy and unparalleled beauty of this coastal community. With easy access to the Balboa Island Ferry, nearby beaches, and an array of recreational activities, the possibilities for adventure and relaxation are endless.
- Listed by Kevin Bayless • DRE #01788899 • Brokerage DRE #01788899 • Bayless Real Estate • kbayless@leeirvine.com
Property Details for 501 Park Avenue
Location
Property Details for 501 Park Avenue
| Status | Active |
|---|---|
| MLS # | OC24090681 |
| Days on Market | 24 |
| Taxes | - |
| HOA Fees | - |
| Condo/Co-op Fees | - |
| Compass Type | Mixed Use |
| MLS Type | Residential Income |
| Year Built | 2015 |
| Lot Size | 0.12 AC / 5,100 SF |
| County | Orange County |
Location
Building Information for 501 Park Avenue
Payment Calculator
$34,086 per month
30 year fixed, 7.25% Interest
$32,472
$1,614
$0
Property Information for 501 Park Avenue
- Gross Income: $276,000
- Gross Scheduled Income: $276,000
- Net Operating Income: $191,840
- Gross Multiplier: 21.56
- Cap Rate: 3.22
- Operating Expense: $84,160
- Fuel Expense: $0
- Electric Expense: $0
- Insurance Expense: $0
- Trash Expense: $0
- Water Sewer Expense: $0
- Total Expenses: $84,160
- Tax Tract Number: 99
- Tax Lot: 21
- Assessments YN: No
- Assessments: None
- Community Features: Fishing, Watersports
- Laundry: No
- Laundry Features: None
- Cooling: Central Air
- Heating Type: Central
- Heating: Central
- Entry Location: Front
- Pool Features: None
- Pool Description: None
- Additional Parcels Description: 05005236
- Lot Features: Corner Lot
- Number Of Units: 3
- Land Lease: No
- Land Lease Type: Fee
- Levels: Two
- Water: Public
- Sewer: Public Sewer
- Water Source: Public
- Garage Spaces: 1
- Parking Garage Spaces: 1
- Carport Spaces: 0
- Builders Tract Name: Balboa Island - Main Island
- Builders Tract Code: Balboa Island - Main Island (BALM)
- Building Status: Existing
- Unit Type Units Total: 1
- Unit Type Beds Total: 0
- Unit Type Baths Total: 0
- Unit Type Furnished: Unfurnished
- Unit Type Garage Spaces: 1
- Unit Type Garage Attached: Yes
- Unit Type Actual Rent: $15,000
- Unit Type Total Rent: $180,000
- Unit Type Pro Forma: 180000
- Unit Type Type: 1
- Unit Type Units Total: 1
- Unit Type Beds Total: 2
- Unit Type Baths Total: 2
- Unit Type Furnished: Unfurnished
- Unit Type Garage Spaces: 0
- Unit Type Actual Rent: $0
- Unit Type Total Rent: $0
- Unit Type Pro Forma: 4500
- Unit Type Type: 2
- Unit Type Units Total: 1
- Unit Type Beds Total: 2
- Unit Type Baths Total: 1
- Unit Type Furnished: Unfurnished
- Unit Type Garage Spaces: 0
- Unit Type Actual Rent: $0
- Unit Type Total Rent: $0
- Unit Type Pro Forma: 3500
- Unit Type Type: 3
- Number Of Units Leased: 1
- Rent Controlled: No
- Number Of Buildings: 1
- Number Of Separate Electric Meters: 3
- Number Of Separate Gas Meters: 3
- Number Of Separate Water Meters: 0
Property History for 501 Park Avenue
| Date | Event & Source | Price | Appreciation |
|---|
| Date | Event & Source | Price |
|---|
For completeness, Compass often displays two records for one sale: the MLS record and the public record.
Public Records for 501 Park Avenue
Schools near 501 Park Avenue
Rating | School | Type | Grades | Distance |
|---|---|---|---|---|
| Public - | K to 6 | |||
| Public - | 7 to 12 | |||
| Public - | K to 12 | |||
| Public - | 9 to 12 |
Rating | School | Distance |
|---|---|---|
Abraham Lincoln Elementary School PublicK to 6 | ||
Corona Del Mar High School Public7 to 12 | ||
Monte Vista High School PublicK to 12 | ||
Back Bay High School Public9 to 12 |
School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.
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Listing Courtesy of Bayless Real Estate, Kevin Bayless, DRE #01788899
Based on information from one of the following Multiple Listing Services: CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.