1116 West Balboa Boulevard

Newport Beach, CA 92661

$2,175,000
Last Sold Price
7
Beds
5
Baths
2,190 Sq. Ft.
$993 / Sq. Ft.
2,190
Sq. Ft.
$993
per Sq. Ft.

Description

Located just 2 houses from the sand makes this a highly desirable 4-plex on Newport’s Balboa Peninsula. This income property offers excellent income with minimal vacancy for any investor. All units are currently occupied with qualified long-term tenants. Each unit was renovated in 2006. The ground-level features a front 2-bedroom 2-bathroom unit and a separate one-bedroom unit off the back of the property. The second floor has two separate 2-bedroom 1-bathroom units. Both units on the second level...Located just 2 houses from the sand makes this a highly desirable 4-plex on Newport’s Balboa Peninsula. This income property offers excellent income with minimal vacancy for any investor. All units are currently occupied with qualified long-term tenants. Each unit was renovated in 2006. The ground-level features a front 2-bedroom 2-bathroom unit and a separate one-bedroom unit off the back of the property. The second floor has two separate 2-bedroom 1-bathroom units. Both units on the second level have vaulted ceilings which lend a bright and airy ambiance to the space. Each unit comes with a parking spot in the rear carport off the alley. With a prime location on the peninsula, this coastal income property is just steps from some of the best beaches in the area. This 4-plex has much higher income potential than most other investment properties on the peninsula at this price point.
  1. Listed by Arthur Dorr • DRE #01899740 • Brokerage DRE #01897014 • Balboa Realty
  2. Listed by Alex Batley • DRE #01897014 • Brokerage DRE #01897014 • Balboa Realty

Property Details for 1116 West Balboa Boulevard

Parking Spaces Total
4
Private Pool
No
Total Units
4.0
Building Type
Attached
Living Area
2190
Assessor Parcel Number
047-263-26
Property Attached YN
true
Common Walls
2+ Common Walls

Location

Listing Courtesy of Balboa Realty, Arthur Dorr, DRE #01899740; Balboa Realty, Alex Batley, DRE #01897014

Sold By Keller Williams Legacy, Samar Okung, DRE #02040547

Add your commute
LISTING UPDATED: 03/18/2020 04:01 AM

Property Details for 1116 West Balboa Boulevard

StatusClosed
MLS #NP19240231
Days on Market116
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1953
Lot Size0.07 AC / 3,049 SF
CountyOrange County

Location

Listing Courtesy of Balboa Realty, Arthur Dorr, DRE #01899740; Balboa Realty, Alex Batley, DRE #01897014

Sold By Keller Williams Legacy, Samar Okung, DRE #02040547

Add your commute

Building Information for 1116 West Balboa Boulevard

Stories2Residences-Year Built1953Building Size-Lot Size0.07 AC / 3,049 SF

Payment Calculator

$13,953 per month

30 year fixed, 7.25% Interest

Principal and Interest

$11,870

Property Taxes

$2,083

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 1116 West Balboa Boulevard

Rental Info
Rental Info
  • Tenant Pays: Cable TV, Electricity, Gas
Income / Expense / Tax Details
Income Details
  • Gross Income: $96,720
  • Gross Scheduled Income: $96,720
  • Net Operating Income: $57,948
  • Cap Rate: 2.3
  • Financing: Cash
Expense Details
  • Operating Expense: $38,772
  • New Taxes Expense: $28,272
  • Insurance Expense: $3,000
  • Maintenance Expense: $5,000
  • Trash Expense: $1,250
  • Water Sewer Expense: $1,250
  • Total Expenses: $38,772
Tax / Assessment Info
  • Tax Block: 111
  • Tax Tract Number: 234
  • Tax Census Tract: 628.00
  • Tax Lot: 5
Community / Development
Community / Development
  • Community Features: Curbs, Sidewalks
Property / Structure Info
Interior Features
  • Laundry: Yes
  • Laundry Features: Inside
Exterior Features
  • Pool Features: None
  • Pool Description: None
  • Pool: N/K
Land/Lot Info
  • Lot Features: Rectangular Lot
  • Number Of Units: 4
  • Land Lease: No
  • Land Lease Type: Fee
  • Levels: Two
  • Water: Meter on Property
  • Sewer: Public Sewer
  • Water Source: Public
Parking Info
  • Garage Spaces: 0
  • Parking: Yes
  • Parking Garage: Assigned, Carport Attached
  • Parking Garage Spaces: 0
  • Carport Spaces: 4
  • Parking Features: Assigned, Attached Carport
Property / Structure Info
  • Builders Tract Name: Balboa Peninsula (Residential) (BALP)
  • Builders Tract Code: Balboa Peninsula (Residential) (BALP)
Unit Information
Unit 1
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 2
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 1
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $2,300
  • Unit Type Total Rent: $27,600
  • Unit Type Pro Forma: 2750
  • Unit Type Type: 1
Unit 2
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 1
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $2,295
  • Unit Type Total Rent: $27,540
  • Unit Type Pro Forma: 2600
  • Unit Type Type: 2
Unit 3
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 1
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $2,090
  • Unit Type Total Rent: $25,080
  • Unit Type Pro Forma: 2600
  • Unit Type Type: 3
Unit 4
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 1
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 1
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $1,375
  • Unit Type Total Rent: $16,500
  • Unit Type Pro Forma: 2100
  • Unit Type Type: 4
Unit Information
  • Rent Controlled: No
  • Number Of Buildings: 1
  • Number Of Separate Electric Meters: 4
  • Number Of Separate Gas Meters: 4
  • Number Of Separate Water Meters: 1

Property History for 1116 West 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 1116 West Balboa Boulevard

Taxable ValueLand$2,185,610Additions$100,702Total$2,286,312
Tax Record2023$25,001 ($2,083 / month)
Home Facts
Total Finished SqFt2,190 SqFtAbove Grade Finished SqFt2,190 SqFtStories2Lot Size3,067 SqFtStyleQuadraplexYear Built1953CountyORANGEAPN047-263-26

Schools near 1116 West Balboa Boulevard

This home is within Newport-Mesa Unified School District.
Rating
School
Type
Grades
Distance
Public - K to 6
Public - 7 to 8
Public - 9 to 12
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.

Similar Homes

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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 Balboa Realty, Arthur Dorr, DRE #01899740; Balboa Realty, Alex Batley, DRE #01897014

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.