127 Agate, Newport Beach, CA 92662

$1,900,000
8
BD
6
BA
3,500
SqFt
List Price
$1,900,000
Price Change
▼ $99,000 1591665298
Status
ACTIVE UNDER CONTRACT
MLS#
NP20098654
Year Built
1925
Bedrooms
8
Bathrooms
6
Living Sq. Ft
3,500
Lot Size
2,550
Acres
0.0585
Lot Location
Level, Value In Land
Days on Market
19
Property Type
Single Family Residential
Property Sub Type
Triplex
Stories
Two Level
Builders Tract Code
Balboa Island - Main Island (BALM)
Neighborhood
Balboa Island - Main Island (Balm)

Property Description

A Historic Landmark "The Balboa Island Hotel" Built-in 1925, by its first owner a local Portuguese fisherman. In the early days, some of the Hollywood studios would rent the entire hotel for the movie stars to stay in while a movie was being made. At that time it had 7 rooms upstairs and a duplex in the back. Over the years the last owner Suzie converted the seven rooms into 4 bedrooms and 2 bathrooms on the second floor and 2 bed 2 baths on the first floor. With over 90 years of history "if walls could talk" we are looking for a new buyer with a vision for this iconic Balboa Island Hotel. Plenty of opportunities to restore the business and make a profit. The duplex in the back was brought over the bridge and onto the Island in 1934. It currently has a Studio leased at $1150 and the 1 bedroom for $1650 a month. The Hotel is located on the same street as the Balboa Island Ferry. Walk to breakfast, lunch, or dinner "501 Park Ave" restaurant also located across the street, and shop at the local market and deli located next to the Ferry, or cross over and spend the day at the Beach in Newport. There is a park with basketball hoops just steps from the Hotel and a very short walk to beaches on the north bayfront and south bayfront. The Balboa Island Hotel needs some love to bring it back to life. A wonderful opportunity for you or someone you know. Priced to sell! President's Award Winning Schools!!

Additional Information

Tract Number
00
Lot Description
Biking, Park, Street Lights
Pool Description
None
Fireplace Description
Living Room
Cooling Description
None
View
Peek-A-Boo
Sewer
Public Sewer
Water
Public
School District
Newport Mesa Unified
Elementary School
Lincol
Middle School
Codema
High School
Codema
Attached Structure
Detached
Total Number of Units
3

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Calculator source: Real Geeks

Listing courtesy of Kristy Holt from Kristy S. Holt

Based on information from California Regional Multiple Listing Service, Inc. as of . 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.