1007 East Balboa Boulevard

1007 East Balboa Boulevard

Newport Beach, CA 92661

$9,480,000
Price
—
Beds
4,704 Sq. Ft.
$2,015 / Sq. Ft.
4,704
Sq. Ft.
$2,015
per Sq. Ft.
an aerial view of a city
an aerial view of a building with ocean view
a view of outdoor space with seating area
a city view with tall buildings
a picture of a city
a kitchen with a sink and a stove top oven
a kitchen with stainless steel appliances a sink and a refrigerator
a bedroom with a bed and a dresser
a large white bedroom with kitchen island a sink table and chairs
a kitchen with a sink a stove cabinets and a refrigerator
a kitchen with a sink and a stove top oven
a living room with furniture and window
a bathroom with a sink and mirror
a view of a hallway with wooden floor
a bedroom with a bed and a table in it
a bedroom with a bed and a view living room
a kitchen with stainless steel appliances a stove a refrigerator and a refrigerator
a kitchen with stainless steel appliances kitchen island granite countertop a refrigerator and a sink
a kitchen with white cabinets and stainless steel appliances
a kitchen with stainless steel appliances granite countertop a sink stove and cabinets
a bedroom with a bed window and a table
a bathroom with a sink vanity and a mirror
a bathroom with a toilet a sink and mirror
a living room with furniture and a fireplace
a bedroom with furniture and a wooden floor
a kitchen with stainless steel appliances a refrigerator a stove and white cabinets
a kitchen with stainless steel appliances granite countertop a refrigerator sink and cabinets
a kitchen with a refrigerator and a sink
a living room with a couch and a fireplace
a living room with furniture and a flat screen tv
a bedroom with a large bed and a window
a living room with furniture and a window
a living room with furniture and a window
a bathroom with a sink vanity and toilet
a living room with furniture and a large window
a kitchen with a refrigerator and a sink
an aerial view of a building with outdoor space
a view of a street with cars
a front view of a house with balcony
a view of a cars parked in garage
a car parked in front of a building

Description

10 Profitable rental units! This is a rare investment opportunity, located oceanfront on the Balboa Peninsula between the pier and the wedge. You will not find another oceanfront investment opportunity on the Peninsula with 10 units at this price. The property comes with short term rental permits, the current waiting list for permits it's 100's deep. The units are furnished, professionally designed, recently remodeled, and fully operating. Stop into a fully operating successful vacation rental, earning...10 Profitable rental units! This is a rare investment opportunity, located oceanfront on the Balboa Peninsula between the pier and the wedge. You will not find another oceanfront investment opportunity on the Peninsula with 10 units at this price. The property comes with short term rental permits, the current waiting list for permits it's 100's deep. The units are furnished, professionally designed, recently remodeled, and fully operating. Stop into a fully operating successful vacation rental, earning income day one. Four of the units feature unobstructed panoramic views of the ocean, Catalina and sunsets. Enjoy all oceanfront living on the Peninsula has to offer including the beach, the waves, beautiful sunsets, the pier and park. Ample entertainment options like the Balboa Fun Zone, ferry to Balboa Island, shops and great restaurants are just a short walk away. Your own porch right on the beach, ocean view of the world famous wedge to the Balboa Pier, you can't beat this location. Boogie board, surf, bike, stroll the pier and boardwalk, play at the oceanfront park and grab a coffee at one of the many cafes. There are three driveway parking spots and a coin operating inside the laundry room for the tenants.
  1. Listed by Shevy Akason • DRE #01836707 • Brokerage DRE #01933507 • Keller Williams Realty N. Tustin • 949-769-1599
  2. Listed by Adam Lillestrand • DRE #01788656 • Brokerage DRE #01933507 • Keller Williams Realty N. Tustin

Property Details for 1007 East Balboa Boulevard

Total Units
10.0
Lot Size Source
Assessor
Building Area Total
4704
Building Area Units
Square Feet
Stories Total
2
Entry Level
1
Parcel Number
04814404
Area
Balboa Peninsula (NP)

Location

Listing Courtesy of Keller Williams Realty N. Tustin, Shevy Akason, DRE #01836707; Keller Williams Realty N. Tustin, Adam Lillestrand, DRE #01788656
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LISTING UPDATED: 04/24/2024 05:53 AM

Property Details for 1007 East Balboa Boulevard

StatusActive
MLS #OC24055258
Days on Market40
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeCommercial Sale / Multi Family
Year Built1909
Lot Size0.08 AC / 3,485 SF
CountyOrange County

Location

Listing Courtesy of Keller Williams Realty N. Tustin, Shevy Akason, DRE #01836707; Keller Williams Realty N. Tustin, Adam Lillestrand, DRE #01788656
Add your commute

Building Information for 1007 East Balboa Boulevard

Stories2Residences-Year Built1909Building Size-Lot Size0.08 AC / 3,485 SF

Payment Calculator

$57,489 per month

30 year fixed, 7.25% Interest

Principal and Interest

$51,736

Property Taxes

$5,753

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 1007 East Balboa Boulevard

Income / Expense / Tax Details
Income Details
  • Gross Scheduled Income: $688,000
  • Net Operating Income: $390,630
Expense Details
  • Operating Expense: $303,000
  • Electric Expense: $500
  • Insurance Expense: $5,000
  • Professional Management Expense: $119,000
  • Trash Expense: $200
  • Water Sewer Expense: $300
  • Total Expenses: $303,000
Property / Structure Info
Interior Features
  • Laundry: Yes
  • Laundry Features: Common Area, Individual Room, Inside
Land/Lot Info
  • Lot Features: 0-1 Unit/Acre, Level, Park Nearby
  • Land Lease: No
  • Water Source: Public
Property / Structure Info
  • Building Status: Existing
Unit Information
Unit 1
  • Unit Type Units Total: 10
  • Unit Type Beds Total: 10
  • Unit Type Baths Total: 0
  • Unit Type Furnished: Furnished
  • Unit Type Garage Spaces: 0
  • Unit Type Actual Rent: $688,000
  • Unit Type Total Rent: $688,000
  • Unit Type Pro Forma: 688000
  • Unit Type Type: 1
Unit Information
  • Number Of Buildings: 1

Property History for 1007 East Balboa Boulevard

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 1007 East Balboa Boulevard

Taxable ValueLand$5,683,855Additions$656,187Total$6,340,042
Tax Record2023$69,031 ($5,753 / month)
Home Facts
Total Finished SqFt4,704 SqFtAbove Grade Finished SqFt4,704 SqFtStories2Lot Size3,600 SqFtStyleMulti-Family Res (5+ Units)Year Built1909CountyORANGEAPN048-144-04

Schools near 1007 East Balboa Boulevard

This home is within Newport-Mesa Unified School District.
Rating
School
Type
Grades
Distance
Newport Elementary School
Public - K to 6
Horace Ensign Intermediate School
Public - 7 to 8
Newport Harbor High School
Public - 9 to 12
Monte Vista High School
Public - K to 12
Rating
School
Distance
Newport Elementary School
PublicK to 6

Horace Ensign Intermediate School
Public7 to 8

Newport Harbor High School
Public9 to 12

Monte Vista High School
PublicK 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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More information about 1007 East Balboa Boulevard, Newport Beach, CA 92661

1007 East Balboa Boulevard is a multi-family home for sale in Newport Beach, CA 92661. This property was listed for sale on March 20, 2024 by Keller Williams Realty N. Tustin, it's currently listed at $9,480,000. This listing's school district is Newport-Mesa Unified School District. Nearby schools include Newport Elementary School, Horace Ensign Intermediate School and Newport Harbor High School. 1007 East Balboa Boulevard is a 0-bed, 0-bath, 4,704 sqft multi-family home built in 1909.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Keller Williams Realty N. Tustin, Shevy Akason, DRE #01836707; Keller Williams Realty N. Tustin, Adam Lillestrand, DRE #01788656

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.