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$3,100,000
Est. payment /mo
5 Beds
3,049 Sqft Lot
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Triplex
Listing Status Active
Purchase Type For Sale
MLS Listing ID CRNP25069687
Bedrooms 5
HOA Y/N No
Year Built 1952
Lot Size 3,049 Sqft
Acres 0.07
Property Sub-Type Triplex
Property Description
Outstanding investment opportunity for the buyer with a vision. Just one house to the beach and very close to all that Balboa Peninsula offers. This two story triplex offers exceptional long term rental income, close proximity to the oceanfront and plenty of garage and parking space for all units. Tenants enjoy the use of the laundry room, relaxing areas in the courtyard or front patio. This property has been upgraded over the last five years and can be used as rentals yearly or summer/winter rentals to maximize income stream. There are two units with 2 bedrooms 2 bathrooms and one unit over the garage with 1 bedroom and 1 bathroom. All units are currently occupied. Next door is 1209 W. Balboa and is the exact mirror of 1213. Buy one or buy both and create a development project with high enough build to enjoy white water views year round for the upper units. The highest and best use of this land would be to build stacked condo's with elevators and balconies. The city of Newport Beach has consulted with an architect on the possible future development of 1209 and 1213 W. Balboa. Hurry because this type of property sells fast in Newport Beach, Balboa Peninsula.
Location
State CA
County Orange
Zoning R2
Interior
Heating Wall Furnace
Cooling No Air Conditioning
Flooring Laminate, Carpet
Fireplace No
Appliance Gas Water Heater
Laundry Common Area
Exterior
Exterior Feature Other
Utilities Available Sewer Connected
View Y/N false
View None
Handicap Access Other
Total Parking Spaces 6
Building
Lot Description Other
New Construction No
Others
Tax ID 04724110
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Listed by Karly Brown • Karly Brown, Broker
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