1320 W Balboa Boulevard, Newport Beach, CA 92661

$2,688,888
7
BD
5
BA
2,373
SqFt
List Price
$2,688,888
Status
ACTIVE
MLS#
PW18291338
Year Built
2018
Bedrooms
7
Bathrooms
5
Living Sq. Ft
2,373
Lot Size
3,049
Lot Location
2-5 Units/Acre
Days on Market
41
Property Type
Single Family Residential
Property Sub Type
Triplex
Stories
One, Two
Neighborhood
Balboa Peninsula (Residential) (Balp)

Property Description

Great opportunity to own two beach homes in one lot in the heart of the Balboa Peninsula! Situated just steps away from both the beach and bay. Steps away from world renown surf spot "The Point" and "Balboa Pier". The property consists of two separate buildings separated by private courtyard in between. The entire buildings are being renovated from top to bottom and inside and outside. Renovation project was started since January 2018 and it will be all completed soon. Total of Three Units, possible to convert into FOUR UNITS. Front building consists of 1020 sf. one story with 3BR/2BA, balcony, private patio, laundry room is INSIDE of the unit. Rear Building consists of 2 story with 2 separate units. Top of the Rear Building has a brand new 505 sq. ROOF TOP DECK with 802 sf. 3BR/2BA and rear balcony, and bottom has 168 sf. 1BR/1BA, the second laundry area is inside of the garage. Each units have their own private patios for their outdoor entertainment, have FUN! FUN! FUN! while staying brand new cozy beach home! It offers total of 4 parking spaces on the property, 386 sf. of 2 car garage and 2 carport spaces and plenty of the street parking spaces are available. High Income potential property as the city allows short term rental permit. It is legal R-2 zone and occupancy group is R3/U. Brand new wall mounted A/Cs+Heaters are installed in EVERY rooms which will reduce the electricity bills. Buyer to cooperate with seller's 1031 exchange at no cost to buyer.

Additional Information

Tract Number
234
Lot Description
Sidewalks
Kitchen Features
Granite Counters
Appliances
Dishwasher, Free Standing Range, Garbage Disposal, Microwave, Refrigerator, Tankless Water Heater
Pool Description
None
Fireplace Description
None
Heat
Zoned, Electric, See Remarks
Cooling
Yes
Cooling Description
Zoned, Electric, See Remarks
View
Peek-A-Boo, Water
Roof
Asphalt, Shingle
Garage Spaces Total
2
Sewer
Public Sewer
Water
Public
School District
Newport Mesa Unified
Attached Structure
Detached
Total Number of Units
3

Mortgage Calculator

Amount of Loan
Annual Interest Rate
%
Term of Loan
Years

Does not include any taxes or fees.
Please consult a financial professional.
Calculator source: Real Geeks

Listing courtesy of Frances Lee from Frances Lee Real Estate

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.