2711 W Balboa BLVD Newport Beach, CA 92663
Sale
$3,649,000
2 Units
5 Beds
4 Baths
2,474 Area(sq.ft.)
2,178 Lot Size(sq.ft.)
| Type | # of Units | Bedroom | Bath | Furnished | Rent | Actual Rent | Projected Rent |
|---|---|---|---|---|---|---|---|
| Unit 1 | 1 | 3 | 2 | Yes | $ 106,949 | $ 106,949 | $ 119,345 |
| Unit 2 | 1 | 2 | 2 | Yes | $ 75,863 | $ 75,863 | $ 84,656 |
| 2 | 2 | 5 | 4 | $ 182,812 | $ 182,812 | $ 204,001 |
| MLS #: | NP23179029MR |
| Days On Market: | 150 |
| County: | Orange County |
| Property Type: | Residential Income |
| Price per ft2: | $ 1,475 |
| Price per unit: | $ 1,824,500 |
| Year Built: | 1972 |
Property Details
Discover authentic coastal living in the heart of the picturesque Balboa Peninsula. Located a mere ten homes away from the beach within the famed 100 block, and moments from Newport Beach's radiant sands and shimmering sea, this premier parcel epitomizes flexibility. Your dream beach home is now attainable. Enjoy it when you wish and rent it when you choose. This dual-offering presents a perfect blend of significant income potential and personal beachside luxury. The property, covering nearly 2,474 square feet, features two fully furnished units and has been extensively remodeled and re-piped in 2020, with a new roof added in 2024. Introduced by a private staircase, Unit B radiates elegance and style. With three bedrooms and two bathrooms, it features a spacious dining area and a balcony perfect for BBQ evenings. Boasting dramatic tongue-and-groove vaulted ceilings, sun-filled skylights, charming Dutch entry doors, and custom designer tiles, along with fresh paint and new flooring in 2024, every aspect of this home radiates sophistication. On the ground floor, Unit A is a contemporary gem with an open-plan design. Featuring two bedrooms and two bathrooms, this home is enhanced with upgrades including Nest thermostats, recessed lighting, stainless steel appliances, custom cabinetry, designer subway tile backsplashes, fresh paint (2024), and impeccable countertops. 2711 W Balboa isn't merely a residence; it's a remarkable opportunity. With two short-term rental permits in hand, it boasts a cap rate of approximately 3%, offering considerable upside potential. Situated near iconic beaches, world-class dining, and the renowned Fashion Island Shopping center, this property is both a golden chance for steady income and a beachside paradise. Embrace the flexibility and make the beach both your backyard and your business.Interested in this Listing?
Miami Residence will connect you with an agent in a short time.
Income Details
| Rent Control: | False |
| Total Annual Expense: | $ 74,269 |
| Net Operating Income: | $ 108,600 |
| Cap Rate: | 2.98% |
Structure
| Community Features: | Sidewalks |
| Sewer: | Public Sewer |
| Water: | Public |
Land & Parking
| Land Lease Type: | Fee |
Interior
| Cooking Appliances: | Microwave, Oven-Gas |
| AC/Cooling: | Central |
| Equipment: | Dishwasher, Freezer, Garage, Gas Or Electric Dryer Hookup, Microwave, Refrigerator |
| Heating: | Forced Air |
| Fireplace Rooms: | None |
| Laundry: | Garage, Gas Or Electric Dryer Hookup |
| Laundry Equipment: | Own |
Exterior
| Pool: | No |
| Spa: | No |
Detailed Map
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