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Sold

1140 W Balboa Boulevard

1140 W Balboa Boulevard, Newport Beach, CA 92661

$2,375,000
A unique opportunity to acquire a Residential Duplex on Balboa Boulevard in Newport Beach, CA. The Residential Duplex consists of a one unit that is comprised of a 3 bedroom / 2 bathroom and another unit that is a 2 bedroom /1 bathroom. Both units are currently on MTM Leases at below market rent, which allows an investor the opportunity to bring the units to market rent. In addition, the duplex currently zoned for R-2, which allows for short term lodging (less than 30 consecutive days) with a city permit.
The subject property is located in Newport Beach, CA, specifically in the affluent neighborhood of Balboa Peninsula. The duplex is ideally located on Balboa Boulevard near 11th street, which is a couple blocks from the beach and the bay. commonly known as the Balboa Peninsula of Newport Beach, CA. The property is within walking distance to Newport Pier, Marina Park, Newport Elementary School, the Balboa Fun Zone and numerous restaurants and shops. The duplex is within a few miles of Hoag Hospital, which regionally and nationally ranked by U.S. News & World Report.

2,250 Sq.Ft. LIVING AREA

3,049 Sq.Ft. lot

Features & Amenities

Interior

  • Laundry room In Garage

Area & Lot

  • Status Sold
  • Living Area2,250 Sq.Ft.
  • Lot Area3,049 Sq.Ft.
  • MLS® IDOC22233646
  • TypeMulti-Family
  • YEAR BUILT1955
  • Water Frontage['Across the Road from Lake/Ocean', 'Ocean Side Of Highway']

Exterior

  • STORIES1
  • Garage Space2.0
  • water SourcePublic
  • PoolNone
  • lot featuresRectangular Lot
  • sewerPublic Sewer

Financial

  • Sales Price$2,375,000

Working With Us

Places buyers and sellers in an enviable position, as it allows for an intelligent preparation for the home sale and/or home buying process. Paired with our extensive knowledge of the local market and seasoned negotiating skills, we deliver positive results for our clients. Committed to make a measurable difference in every aspect of the transaction, our passion for people and properties shines through in every detail.

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