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.
Sold for $8,500,000
Listed by: Times Real Estate CA • George Hanold • Contact: 949-836-5480
Bought with: Times Real Estate CA
$8,500,000
1007 E Balboa Blvd, Newport Beach, CA 92661
10beds
10baths
4,704sqft
Quadruplex
Built in 1909
-- sqft lot
$-- Zestimate®
$1,807/sqft
$5,450 Estimated rent
Home value
Not available
Estimated sales range
Not available
$5,450/mo
Zestimate® history
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$53,352/mo
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Zillow last checked:
Listing updated:
Listed by:
George Hanold DRE #01446306 949-836-5479,
Times Real Estate CA,
Regan Beegle DRE #01736778,
Times Real Estate CA
Bought with:
George Hanold, DRE #01446306
Times Real Estate CA
Regan Beegle, DRE #01736778
Times Real Estate CA
Source: CRMLS,MLS#: NP24109926
Originating MLS: California Regional MLS
Originating MLS: California Regional MLSFacts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 10
- Bathrooms: 10
Rooms
- Room types: Bedroom, Kitchen, Laundry, Living Room
Bedroom
- Features: Bedroom on Main Level
Heating
- Space Heater
Cooling
- Wall/Window Unit(s)
Appliances
- Included: Dishwasher, Freezer, Gas Oven, Gas Range, Microwave, Refrigerator
- Laundry: Common Area, Inside, Laundry Room
Features
- Bedroom on Main Level
- Has fireplace: No
- Fireplace features: None
- Common walls with other units/homes: No Common Walls
Interior area
- Total structure area: 4,704
- Total interior livable area: 4,704 sqft
Property
Parking
- Total spaces: 3
- Parking features: Driveway
- Uncovered spaces: 3
Features
- Levels: Two
- Stories: 2
- Entry location: 0
- Pool features: None
- Spa features: None
- Has view: Yes
- View description: Catalina, Coastline, Ocean, Panoramic
- Has water view: Yes
- Water view: Coastline,Ocean
- Waterfront features: Beach Access, Beach Front, Ocean Access, Ocean Front
Lot
- Size: 3,600 Square Feet
- Features: Street Level
Details
- Parcel number: 04814404
- Special conditions: Standard
Construction
Type & style
- Home type: MultiFamily
- Property subtype: Quadruplex
Condition
- New construction: No
- Year built: 1909
Utilities & green energy
- Sewer: Public Sewer
- Water: Public
Community & HOA
Community
- Features: Biking, Park, Street Lights, Sidewalks
- Subdivision: Balboa Peninsula (Residential) (Balp)
Location
- Region: Newport Beach
Financial & listing details
- Price per square foot: $1,807/sqft
- Date on market: 5/31/2024
- Cumulative days on market: 56 days
- Listing terms: Cash,Cash to New Loan,Conventional
- Tenant pays: None
Price history
| Date | Event | Price |
|---|---|---|
| 8/22/2024 | Sold | $8,500,000-10.5%$1,807/sqft |
Source:  CRMLS #NP24109926 Report a problem | ||
| 8/22/2024 | Pending sale | $9,500,000$2,020/sqft |
Source: CRMLS #NP24109926 Report a problem | ||
| 7/12/2024 | Price change | $9,500,000-13.6%$2,020/sqft |
Source: CRMLS #NP24109926 Report a problem | ||
| 6/20/2024 | Price change | $11,000,000-15.4%$2,338/sqft |
Source: CRMLS #NP24109926 Report a problem | ||
| 6/1/2024 | Listed for sale | $12,995,000$2,763/sqft |
Source: CRMLS #NP24109926 Report a problem | ||
| 10/31/2013 | Listing removed | $1,100 |
Source: Premier Realty Associates Report a problem | ||
| 10/29/2013 | Listed for rent | $1,100 |
Source: Premier Realty Associates Report a problem | ||
Public tax history
Tax history is unavailable.
Neighborhood: 92661
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Nearby schools
GreatSchools rating
- 8/10Newport Elementary SchoolGrades: K-6Distance: 1.3 mi
- 9/10Horace Ensign Intermediate SchoolGrades: 7-8Distance: 1.7 mi
- 9/10Newport Harbor High SchoolGrades: 9-12Distance: 1.8 mi
- California
- Orange County
- Newport Beach
- 92661
- 1007 E Balboa Blvd
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