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Christian Walsh(949) 635-4466
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On Site:126 Days
Lot Size:3,049 Sq. Ft.
Situated directly in front of Blackies surf break with views of the Newport Pier, crashing waves, and Catalina Island, this oceanfront quadruplex with garage parking for 4-cars presents a rare investment opportunity for stable, long-term income as well as short-term lodging income. Thoughtfully designed, the beautiful upper units, (1) 2BR/2BA and (1) 1BR/1BA, can be combined for a 3BR/2BA unit to accommodate larger groups and earn premium rates. Fit with quality stainless steel appliances, a marble fireplace, cherry-wood cabinets, teak flooring and voluminous ceilings, the ocean-facing upper unit is an attractive residence for a homeowner or luxury vacationers alike. A spacious sundeck with built-in barbecue and bar-top offers the coveted indoor-outdoor lifestyle and a private retreat to watch passerby, sunsets, and surfers challenging the waves. Each upper unit comes with in-unit laundry and has been recently refurnished (2020), painted, and permitted for short-term lodging, while the (2) 1BR/1BA lower units share laundry in the garage and showcase new vinyl flooring. Additional highlights include one new garage door and track as well as a gated courtyard entry. Given its highly desirable location and luxe accommodations at the center of Newport's cultural attractions, the income potential for this performing asset reveal a sound investment.
$000 Monthly Payment
Loan and interest only. Taxes and insurance not included.
Address:2202 W Oceanfront Newport Beach, CA 92663
Subdivision:Balboa Peninsula (Residential) (Balp)
Total Units: 4
Stories Total: 2
Unit 1: 1 Unit•1 Bed•1 Bath•1 Garage•Unfurnished•$2,100 actual rent•$25,200 total rent•$32,400 pro forma
Unit 2: 1 Unit•1 Bed•1 Bath•1 Garage•Unfurnished•$2,350 actual rent•$28,200 total rent•$32,400 pro forma
Unit 3: 1 Unit•2 Beds•2 Baths•1 Garage•Furnished•$5,400 actual rent•$64,800 total rent•$79,300 pro forma
Unit 4: 1 Unit•1 Bed•1 Bath•1 Garage•Furnished•$2,900 actual rent•$34,800 total rent•$53,250 pro forma
Garage Spaces: 4
Features / Amenities
Floor Material: Carpet, Tile, Vinyl, Wood
Interior: Balcony, High Ceilings
Rooms: Entry, Kitchen, Living Room, Main Floor Bedroom
Windows: Blinds, Double Pane Windows
Laundry: In Closet, In Garage, Inside, Stackable
Common Walls: No Common Walls
Parking Total: 4
Appliances: Dishwasher, Freezer, Gas Range, Gas Cooktop, Microwave, Range Hood, Refrigerator
Fireplace(s): Living Room
Cooling Type: Wall/Window Unit(s)
Lot Size: 0.07 Acres / 3,049 Sq. Ft.
Lot Features: Landscaped
Waterfront Features: Across the Road from Lake/Ocean
View: Catalina, Coastline, Ocean, Water, White Water
Lot Number: 2
Sewer: Public Sewer
Directions:Oceanfront & 22nd Street
Tax and Financial Info
Land Lease: No
Electric Expense: 1250.00
Gardener Expense: 960.00
Insurance Expense: 2800.00
Water / Sewer Expense: 1100.00
Other Expense: 4707.00
Total Expenses: 60878.00
Gross Annual Income: 149400.00
WALKING AND TRANSPORTATION
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Listing provided courtesy of Tim Smith, Coldwell Banker Realty.
Based on information from California Regional Multiple Listing Service, Inc. as of April 21, 2021. 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. IDX provided by Sierra Interactive.