2711 W Balboa Blvd

Newport Beach, CA 92663 View Map $2,535,000 Ask a Question
Sq.Ft. Lot2,178
Year1972
Christian Walsh

Christian Walsh

(949) 635-4466
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Status: Sold
Property Type:Duplex
MLS #:NP21094610
Date Sold:6/2/2021
Lot Size:2,178 Sq. Ft.
County:Orange
Discover authentic coastal living in the heart of the picturesque Balboa Peninsula. Located ten homes from the beach within the famed 100 block, just moments from Newport Beach's sparkling sand and sea, this premiere parcel is an idyllic compound for significant income opportunity or a personal beachside getaway. Comprised of two fully furnished units spanning approximately 2,474 square feet, the property has been remodeled and re-piped in 2020. Introduced by private staircase, Unit B is a remarkable and refined residence encompassing three bedrooms, two bathrooms, spacious dinning area, and balcony with a BBQ servicing the opulent living room. Among the unit's decorative flourishes are dramatic tongue and grove vaulted ceilings, multiple skylights filling the interiors with an abundance of natural light, Dutch entry doors, custom designer tiles, and luxury vinyl plank flooring throughout both units. On the ground-level, Unit A is a spectacular, open-plan two-bedroom, two-bathroom abode finished with an array of upgrades and exceptional materials including Nest thermostats, recessed lighting, stainless steel appliances, custom cabinetry, designer subway tile backsplashes, and newer countertops. 2711 W Balboa is equipped with two short-term rental permits, achieving a cap rate of approximately 3.5% with great upside potential. Near famous beaches, world-class dining, and Fashion Island Shopping center, this offering provides tremendous opportunity for stable and steady income and existing reservations are already in place through Summer 2021.

Detailed Maps

Price Change History

Date Old Price New Price Percent Change
6/2/2021$2,495,000$2,535,0001.6%

Community Information

Address:2711 W Balboa Blvd Newport Beach, CA 92663
Area:NP - Balboa Peninsula
County:Orange
City:Newport Beach
Subdivision:Balboa Peninsula (Commercial) (Bpcd)
Zip Code:92663

Architecture

Year Built:1972
Stories:2
Number of Buildings: 1
Total Units: 2
Stories Total: 2
Unit 1: 1 Unit•3 Beds•2 Baths•Furnished•$87,451 actual rent•$89,251 total rent•$93,771 pro forma
Unit 2: 1 Unit•2 Beds•2 Baths•Furnished•$63,382 actual rent•$65,182 total rent•$67,066 pro forma
Garage Spaces: 2.0
Parking Total: 2.0

Features / Amenities

Interior Features: Beamed Ceilings, Built-in Features, Balcony, Ceiling Fan(s), High Ceilings, Open Floorplan, Recessed Lighting, Tile Counters, Bedroom on Main Level, Main Level Master, Walk-In Closet(s)
Appliances: Dishwasher, Freezer, Gas Cooktop, Gas Oven, Microwave, Refrigerator
Flooring: Vinyl
Laundry: Electric Dryer Hookup, Gas Dryer Hookup, In Garage
Exterior Features: Barbecue
Door Features: Mirrored Closet Door(s)
Window: Blinds, Skylights
Common Walls: 1 Common Wall
Cooling: Central Air
Heating: Forced Air

Property Features

Lot Size: 0.05 Acres / 2,178 Sq. Ft.
Lot Features: Paved
Waterfront: Ocean Side Of Freeway, Ocean Side Of Highway
View: Neighborhood
Sewer: Public Sewer
Water: Public
Electric: Standard
Road Surface: Paved
Directions:PCH to Balboa Blvd. Cross Streets: 28th

Tax and Financial Info

Buyer Financing: CashtoNewLoan
Cap Rate: 3.57
Gross Income: $154,433
Gross Scheduled Income: $168,370
Net Operating Income: $89,101
Cable TV Expense: $1,980
Electric Expense: $1,755
Fuel Expense: $917
Insurance Expense: $2,060
New Taxes Expense: $26,268
Water/Sewer Expense: $1,012

Schools

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 June 22, 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.