126 40th Street

Newport Beach, CA 92663

$2,150,000
Last Sold Price
5
Beds
3
Baths
1,936 Sq. Ft.
$1,111 / Sq. Ft.
1,936
Sq. Ft.
$1,111
per Sq. Ft.

Description

Superior 100 Block location on 40th St! Highly sought-after residential income property just steps to the surf and sand in West Newport on Balboa Peninsula! Welcome to a 3 bedroom 1 bathroom upper unit and a 2 bedroom 1 bathroom lower unit with an additional exterior bathroom and shower. Oversized 2 car garage with shared laundry with extra space for additional parking behind the garage. Current active short term lodging permit with the city, this property will allow you to continue building your...Superior 100 Block location on 40th St! Highly sought-after residential income property just steps to the surf and sand in West Newport on Balboa Peninsula! Welcome to a 3 bedroom 1 bathroom upper unit and a 2 bedroom 1 bathroom lower unit with an additional exterior bathroom and shower. Oversized 2 car garage with shared laundry with extra space for additional parking behind the garage. Current active short term lodging permit with the city, this property will allow you to continue building your vacation rental business and have immediate cash flow. Currently generating approximately $150,000 in gross rents. This property sits on an estimated 25’x 95’ - 2,375sqft lot. Great opportunity for an immediate sand close turn-key vacation rental or the long term vision of new construction in a prime location! Restaurants, cafes, grocery, Lido Village and so much more all within walking distance or a short bike ride. Welcome to 126 40th St, seconds to the beach, close to the boardwalk, hop on a bike ride to the Newport Pier and enjoy everything West Newport has to offer!
  1. Listed by Nicolai Glazer • DRE #01857997 • Brokerage DRE #01767484 • Pacific Sotheby's Int'l Realty
  2. Listed by Amelie Mason • DRE #02028221 • Brokerage DRE #01767484 • Pacific Sotheby's Int'l Realty

Property Details for 126 40th Street

Architectural Style
Cottage
View
Neighborhood
Parking Spaces Total
2
Private Pool
No
Cooling Type
N/K
Total Units
2.0
Building Type
Detached
Lot Size Source
Assessor

Location

Listing Courtesy of Pacific Sotheby's Int'l Realty, Nicolai Glazer, DRE #01857997; Pacific Sotheby's Int'l Realty, Amelie Mason, DRE #02028221

Sold By Pacific Sotheby's Int'l Realty, Amelie Mason, DRE #02028221; Pacific Sotheby's Int'l Realty, Nicolai Glazer, DRE #01857997

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LISTING UPDATED: 11/18/2020 10:58 AM

Property Details for 126 40th Street

StatusClosed
MLS #NP20197079
Days on Market14
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeTownhouse
MLS TypeResidential
Year Built1958
Lot Size0.05 AC / 2,375 SF
CountyOrange County

Location

Listing Courtesy of Pacific Sotheby's Int'l Realty, Nicolai Glazer, DRE #01857997; Pacific Sotheby's Int'l Realty, Amelie Mason, DRE #02028221

Sold By Pacific Sotheby's Int'l Realty, Amelie Mason, DRE #02028221; Pacific Sotheby's Int'l Realty, Nicolai Glazer, DRE #01857997

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Virtual Tour

Building Information for 126 40th Street

Stories2Residences-Year Built1958Building Size-Lot Size0.05 AC / 2,375 SF

Payment Calculator

$13,731 per month

30 year fixed, 7.25% Interest

Principal and Interest

$11,733

Property Taxes

$1,998

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 126 40th Street

Rental Info
Rental Info
  • Tenant Pays: None
Income / Expense / Tax Details
Income Details
  • Gross Income: $149,317
  • Gross Scheduled Income: $149,317
  • Gross Operating Income: $149,317
  • Net Operating Income: $108,275
  • Financing: Cash to Loan
Expense Details
  • Operating Expense: $41,042
  • New Taxes Expense: $25,000
  • Cable TV Expense: $1,200
  • Fuel Expense: $800
  • Electric Expense: $1,000
  • Insurance Expense: $1,395
  • Other Expense: $35,525
  • Other Expense Description: CleanTax
  • Trash Expense: $100
  • Water Sewer Expense: $636
  • Supplies Expense: $396
  • Total Expenses: $41,042
Tax / Assessment Info
  • Tax Block: 39
  • Tax Tract Number: 670
  • Tax Census Tract: 635.00
  • Tax Lot: 14
Community / Development
Community / Development
  • Accessibility Features: None
  • Disability Access: None
  • Assessments YN: Yes
  • Assessments: Unknown
  • Community Features: Curbs, Gutters, Sidewalks, Street Lights
Property / Structure Info
Interior Features
  • Appliances: Dishwasher, Gas Oven, Gas Range, Refrigerator
  • Equipment: Dishwasher, Refrigerator, Gas Oven, Gas Range
  • Interior Features: Balcony, Ceiling Fan(s)
  • Room Type: Living Room, Main Floor Bedroom
  • Main Level Bathrooms: 2
  • Main Level Bedrooms: 2
  • Room Bathroom Features: Bathtub, Shower, Shower in Tub
  • Bedroom Features: Main Floor Bedroom
  • Laundry: Yes
  • Laundry Features: In Garage
  • Laundry Location: Garage
  • Fireplace Features: Living Room
  • Fireplace Rooms: Living Room
  • Fireplace: FP in Living Room
  • Cooling: None
  • Heating: Wall Furnace
  • Heat Equipment: Wall/Gravity
Exterior Features
  • Structure Type: Duplex
  • Miscellaneous: Gutters
  • Patio: Yes
  • Patio: Deck, Patio
  • Patio And Porch Features: Deck, Patio
  • Pool Features: None
  • Pool Description: None
  • Pool: N/K
  • Spa Features: None
Land/Lot Info
  • Sign on Property: Yes
  • Lot Features: 0-1 Unit/Acre
  • Lease Considered: No
  • Direction Faces: Northwest
  • Number Of Units: 2
  • Available For Lease: No
  • Land Lease: No
  • Land Lease Type: Fee
  • Road Surface Type: Paved
  • Road Frontage Type: City Street
  • Levels: Two
  • Water: Public
  • Sewer: Public Sewer
  • Sewer/Septic: Public Sewer
  • Utilities: Cable Connected, Electricity Connected, Sewer Connected, Water Connected
  • Water Source: Public
Parking Info
  • Garage Spaces: 2
  • Parking: Yes
  • Parking Garage: Garage, Other
  • Uncovered Spaces: 1
  • Open Other Spaces Total: 1
  • Parking Non-Garage: On Site, Other
  • Parking Garage Spaces: 2
  • Parking Garage: Garage
  • Carport Spaces: 0
  • Attached Garage: Yes
  • Parking Features: Garage, Garage Faces Rear, On Site, Other
Property / Structure Info
  • Builders Tract Name: West Newport Beach
  • Builders Tract Code: West Newport Beach (WSNB)
  • Architectural Style: Cottage
  • Residential Styles: Townhome
  • Residential Unit Location: No Common Walls
Unit Information
Unit 1
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 3
  • Unit Type Baths Total: 1
  • Unit Type Garage Spaces: 1
  • Unit Type Garage Attached: Yes
  • Unit Type Actual Rent: $8,065
  • Unit Type Total Rent: $8,065
  • Unit Type Pro Forma: 8065
  • Unit Type Type: 1
Unit 2
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 2
  • Unit Type Garage Spaces: 1
  • Unit Type Garage Attached: Yes
  • Unit Type Actual Rent: $4,355
  • Unit Type Total Rent: $4,355
  • Unit Type Pro Forma: 4355
  • Unit Type Type: 2
Unit Information
  • Number Of Units Leased: 2
  • Rent Controlled: No
  • Number Of Buildings: 1
  • Number Of Separate Electric Meters: 2
  • Number Of Separate Gas Meters: 2
  • Number Of Separate Water Meters: 0

Property History for 126 40th Street

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

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

Public Records for 126 40th Street

Taxable ValueLand$2,132,820Additions$104,040Total$2,236,860
Tax Record2023$23,977 ($1,998 / month)
Home Facts
Total Finished SqFt1,936 SqFtAbove Grade Finished SqFt1,936 SqFtLot Size2,273 SqFtStyleMulti-Family Dwelling (2-4)Year Built1958CountyORANGEAPN423-321-03

Schools near 126 40th Street

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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Similar Sold 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 Pacific Sotheby's Int'l Realty, Nicolai Glazer, DRE #01857997; Pacific Sotheby's Int'l Realty, Amelie Mason, DRE #02028221

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.