1609 E Balboa Boulevard, Newport Beach

$2,195,000

0 Beds
0 Baths
2,756 Sqft
.06 Acres
3 Garages

Presenting a wonderful opportunity for instant income is this charming quadruplex located seconds to both the beach and bay within the highly desirable neighborhood of Peninsula Point. Encompassing (1) two-bedroom, one-bathroom unit and (3) one-bedroom, one-bathroom units, the property allows plenty of space for the future owner or manager to live on-site for easy property management. Three single garages provide additional storage and opportunity for income - previously rented at rate of $200/mo per garage. Given the high demand of the Newport Beach rental market, the future owner of this premier property has the potential to gross approximately $167,000/ year on all units and garages combined. Surrounded by multi-million dollar homes near the Fun Zone, countless shops and restaurants, this picturesque coastal residence is the perfect investment and place to call to home.

Essential Information
MLS® #NP19161789
Price$2,195,000
Bathrooms0.00
Square Footage2,756
Acres0.06
Year Built1949
TypeResidential Income
StatusActive Under Contract
Community Information
Address1609 E Balboa Boulevard
AreaBalboa Peninsula (NP)
SubdivisionBalboa Peninsula Point (BLPP)
CityNewport Beach
CountyOrange
StateCA
Zip Code92661
Amenities
Parking Spaces3
# of Garages3
Interior
HeatingWall Heater
CoolingNone
FireplaceYes
StoriesTwo
Appliances

Built In Range, Gas Range, Gas Water Heater, Refrigerator

Exterior
Lot Description

Park Nearby, Lot Shape-Rectangular

Additional Information
Date ListedJuly 10th, 2019
Days on Market205
Listing Details
AgentTim Smith(01346878)
OfficeColdwell Banker Realty
Property History
Status Changed from Active to Active Under Contract
Status Changed from Active Under Contract to ActiveStatus Changed from Active Under Contract to Active
Status Changed from Active to Active Under Contract
Price Reduced from $2,349,000 to $2,195,000
Status Changed from Active Under Contract to Active
Show All History (6)

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Based on information from California Regional Multiple Listing Service, Inc. as of June 5th, 2020 at 8:21am PDT. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.

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