1007 E Balboa Boulevard, Newport Beach, CA 92661

About this fourplex

A remarkable opportunity to own 10 Units on the Oceanfront of the Balboa Peninsula with 7 Irreplaceable STR's (SHORT TERM RENTAL PERMITS)! This is a dream deal w/ a monster cap rate and a whopping $640,000 NET income in 2023! Located almost perfectly right next to Balboa Pier, Balboa Fun Zone, Balboa Ferry, Market & Deli, Shopping, Restaurants, Arcades, and More. Each unit is remodeled and ready to be rented immediately. 4 of the Units are directly facing the oceanfront with spectacular panoramic views, including the Pier. Priced to sell and motivated deal. APN 048-146-04 (additional 1,519 sqft parcel on sand/beach) also included.

Listing description from the August 2024 sale, as reported to CRMLS.

Sale history

$8,500,000

Sold August 2024 · listed $9,500,000, orig. $12,995,000, on market May 2024 · MLS #NP24109926 · Source: CRMLS

Listing Agent: George Hanold · Listing Office: Times Real Estate CA · Contact: 949-836-5479 · Bought with: George Hanold · Times Real Estate CA

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