Homes for sale - 301 East Balboa Boulevard, Newport Beach, CA 92661...

Additional details

Paul Ward

somis@homeandranchsellingteam.com +1(805) 479-5004

Listed by Joseph Berkson • Marcus & Millichap RE Invest

$2,995,000

Est. payment - /mo

1,638 SqFt

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UPDATED:

09/09/2024 04:48 AM

Key Details

Property Type Single Family Home

Listing Status Active

Purchase Type For Sale

Square Footage 1,638 sqft

Price per Sqft $1,828

Subdivision Balboa Peninsula (Residential)

MLS Listing ID OC-23202618

Year Built 1921

Lot Size 2,614 Sqft

Property Description

The Cottage at Balboa Peninsula is a quaint investment opportunity at the corner of Coronado Street and East Balboa Boulevard. It has a long and storied history which includes operating as a family compound, vacation rentals and, in its current configuration, as a 4 unit multifamily rental. The front unit which is on the corner of Balboa Boulevard and Coronado Street is two- bedrooms with one bath and a kitchen and small dining area. Two of the units (Units 1 and 2) are one bedrooms with one bath. One unit is a studio unit. Both the ones and the studio unit have kitchenettes. What makes this property particularly valuable is its corner location on Balboa Boulevard which takes it away from the Balboa Peninsula boardwalk while still providing ocean views and only being a few feet from the sand combined with the opportunity for an investor to redevelop the site. The City of Newport Beach will allow for the property to be redeveloped in a two-story, 2 unit plus one ADU configuration. Two parking spaces would be required. Even though 301 E. Balboa does not have beach frontage, because of its frontage on Coronado Street, each unit of a new development can be configured to have unobstructed ocean views. The property can then be operated as a rental property, a personal multi- unit residence or, if given City approval, vacation rentals. *** PLEASE NOTE THAT ALL INCOME AND EXPENSE INFORMATION SHOWN ON MLS FOR THIS PROPERTY IS PRO FORMA ***

Location

State CA

County Orange

Interior

Interior Features Ceramic Counters, Ceiling Fan(s), Formica Counters, Unfurnished

Heating Wall Furnace

Cooling None

Flooring Vinyl

Fireplaces Type None

Inclusions None

Laundry Common Area

Exterior

Parking Features None

Pool None

Community Features Biking, Fishing, Sidewalks, Street Lights, Suburban, Watersports

Utilities Available Sewer Connected, Water Connected, Cable Connected, Electricity Available, Electricity Connected, Natural Gas Connected, Phone Available

View Y/N Yes

View Ocean

Building

Lot Description Corner Lot, Level with Street

Sewer Public Sewer

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Paul Ward

+1(805) 479-5004

Agent | License ID: 01354001

Agent License ID: 01354001

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301 East Balboa Boulevard Newport Beach, CA 92661

Paul Ward

Key Details

Location

Interior

Exterior

Building

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