A five-unit apartment building located at 307 East Edgewater Avenue in Newport Beach, California. The location of this building cannot be beat. It is located on Newport Peninsula directly on the water of Newport Bay. The frontage of the property allows tenants to sit on a beach five steps outside the building or relax on a private income producing dock that is included in the purchase of the property. The property consists of five apartment units and a dock. The unit mix consists of two two-bedroom/two-bathroom units, one two-bedroom/one-and-one-half-bathroom unit, and two non-conforming studios. There is also a boat dock that can accommodate three boats. The front units have amazing bay views. The units have been updated. The building is in a world class location. It is within walking distance of a three-mile stretch of sandy beach, world famous surf, and many famous Newport Beach hot spots. The hot spots include the Balboa Island Ferry, which transports passengers and cars from the Peninsula to Balboa Island. The property is a great investment for an investor looking for a location in a prime coastal area.
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