1007 E Balboa Blvd, Newport Beach, CA 92661
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1007 E Balboa Blvd Newport Beach, CA 92661

$9,980,000
  • 100 Beds
  • 0 Baths
  • 4,704 Sq.Ft.
For Sale
$9,980,000 Get Pre-Qualified

Map preview of 1007 E Balboa Blvd, Newport Beach, CA 92661

Property Overview: 1007 E Balboa Blvd Newport Beach, CA has 100 bedrooms, -- bathrooms, 4,704 living square feet and 3,485 square feet lot size. Call an Ardent Real Estate Group agent to verify current availability of this home or with any questions you may have.

Agent Remarks: Ask about the assumable note. 10 Profitable rental units! This is a rare investment opportunity, located oceanfront on the Balboa Peninsula between the pier and the wedge. You will not find another oceanfront investment opportunity on the Peninsula with 10 units at this price. The property comes with short term rental permits, the current waiting list for permits it's 100's deep. The units are furnished, professionally designed, recently remodeled, and fully operating. Stop into a fully operating successful vacation rental, earning income day one. Four of the units feature unobstructed panoramic views of the ocean, Catalina and sunsets. Enjoy all oceanfront living on the Peninsula has to offer including the beach, the waves, beautiful sunsets, the pier and park. Ample entertainment options like the Balboa Fun Zone, ferry to Balboa Island, shops and great restaurants are just a short walk away. Your own porch right on the beach, ocean view of the world famous wedge to the Balboa Pier, you can't beat this location. Boogie board, surf, bike, stroll the pier and boardwalk, play at the oceanfront park and grab a coffee at one of the many cafes. There are three driveway parking spots and a coin operating inside the laundry room for the tenants.

Listed by Shevy Akason | BRE #01836707 | Keller Williams Realty N. Tustin
Co-listed by Adam Lillestrand | BRE #01788656 | Keller Williams Realty N. Tustin
Last checked: 10 minutes ago | Last updated: March 21st, 2024 | Source CRMLS | DOM: 7
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Home details

Lot Sq. Ft
3,485
HOA Dues
$0/mo
Year built
1909
Garage
--
Property Type:
Multi Family
Status
Active
MLS#
OC24055258
City
Newport Beach
County
Orange
Time on Site
8 days
Property Unit Breakdown
Unit Mix Summary
  • Total # of Units: 10
  • Total # of Buildings: 1
Unit Breakdown 1
  • # of Units: 10
  • # of Beds: 10
  • # of Baths: 0
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Furnished
  • Actual Rent: $688,000
  • Total Rent: $688,000
  • Pro Forma/Market Rent: $688,000
Property Income/Expense Information
Property Income and Analysis
  • Gross Rent Multiplier: --
  • Gross Scheduled Income: $688,000
  • Net Operating Income: $390,630
  • Gross Operating Income: --
Annual Expense Breakdown
  • Total Operating Expense: $303,000
  • Electric: $500
  • Trash: $200
  • Insurance: $5,000
  • Professional Management: $119,000
  • Water/Sewer: $300

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Property Details for 1007 E Balboa Blvd

Interior Features
Laundry Information
  • Common Area, Individual Room, Inside
Lot Details / Garage and Parking
Lot Information
  • Lot Features: 0-1 Unit/Acre, Level, Park Nearby
  • Lot Size Source: Assessor
  • Common Interest: None
Property Information
  • Total # of Units: 10
  • Parcel Number: 04814404
  • Year Built Source: Assessor
  • Entry Level: 1
Homeowners Association, Utilities, Taxes / Assessments
Utilities Information
  • Water Source: Public
Location / Neighborhood
Location Information
  • Directions: GPS
View more facts & features

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Sale History for 1007 E Balboa Blvd

Last leased for $2,400 on June 7th, 2019
  • March, 2024

  • Mar 20, 2024

    Date

    Active

    CRMLS: OC24055258

    $9,980,000

    Price

  • January, 2023

  • Jan 17, 2023

    Date

    Canceled

    CRMLS: OC22069325

    $10,280,000

    Price

  • Apr 14, 2022

    Date

    Active

    CRMLS: OC22069325

    $11,800,000

    Price

  • Listing provided courtesy of CRMLS

    Ask about the assumable note. 10 Profitable rental units! This is a rare investment opportunity, located ocean front on the Balboa Peninsula between the pier and the wedge. You will not find another ocean front investment opportunity on the Peninsula with 10 units at this price. The property comes with short term rental permits, the current waiting list for permits it's 100's deep. The units are furnished, professionally designed, recently remodeled, and fully operating. Stop into a fully operating successful vacation rental, earning income day one. Four of the units feature unobstructed panoramic views of the ocean, Catalina and sunsets. Enjoy all ocean front living on the Peninsula has to offer including the beach, the waves, beautiful sunsets, the pier and park. Ample entertainment options like the Balboa Fun Zone, ferry to Balboa Island, shops and great restaurants are just a short walk away. Your own porch right on the beach, ocean view of the world famous wedge to the Balboa Pier, you can't beat this location. Boogie board, surf, bike, stroll the pier and board walk, play at the ocean front park and grab a coffee at one of the many cafes. There are three driveway parking spots and coin operating inside laundry room for the tenants.

  • January, 2020

  • Jan 11, 2020

    Date

    Expired

    CRMLS: OC19053074

    $5,180

    Price

  • Mar 9, 2019

    Date

    Active

    CRMLS: OC19053074

    $5,180

    Price

  • Listing provided courtesy of CRMLS

    Ocean front living between the Balboa Pier and the wedge. Professionally designed and newly remodeled two bedroom condo. Enjoy all ocean front living on the Peninsula has to offer including the beach, the waves, beautiful sunsets, the pier and park. Ample entertainment options like the Balboa Fun Zone, ferry to Balboa Island, shops and great restaurants are just a short walk away. Your own porch right on the beach, ocean view of the world famous wedge to the Balboa Pier, you can't beat this location. Boogie board, surf, bike, stroll the pier and board walk, play at the ocean front park, grab a coffee at one of the many cafe's, or a bite to eat one of the excellent restaurants. There are 3 other ocean front units available in this building, one right across the hall and two below, this property is perfect for a multi-family vacation or a romantic getaway. Prices vary by season. Inquire for details.

  • January, 2020

  • Jan 1, 2020

    Date

    Expired

    CRMLS: OC19130550

    $2,500

    Price

  • Jun 4, 2019

    Date

    Active

    CRMLS: OC19130550

    $2,500

    Price

  • Listing provided courtesy of CRMLS

    Ocean front living between the Balboa Pier and the wedge. Professionally designed and newly remodeled one bedroom condo. Upgrades include new flooring, kitchen cabinets, counter tops, appliances and bathroom. Enjoy all ocean front living on the Peninsula has to offer including the beach, the waves, beautiful sunsets, the pier and park. Ample entertainment options like the Balboa Fun Zone, ferry to Balboa Island, shops and great restaurants are just a short walk away. The front deck is common space for all tenants and the there is direct access to the beach from the main level back door. Landlord will pay for yearly parking permit.

  • January, 2020

  • Jan 1, 2020

    Date

    Expired

    CRMLS: OC19183368

    $2,800

    Price

  • Aug 1, 2019

    Date

    Active

    CRMLS: OC19183368

    $2,800

    Price

  • Listing provided courtesy of CRMLS

    Ocean front living between the Balboa Pier and the wedge. Professionally designed and newly remodeled two bedroom condo. Upgrades include new flooring, kitchen cabinets, counter tops, appliances and bathroom. Enjoy all ocean front living on the Peninsula has to offer including the beach, the waves, beautiful sunsets, the pier and park. Ample entertainment options like the Balboa Fun Zone, ferry to Balboa Island, shops and great restaurants are just a short walk away. The front deck is common space for all tenants and the there is direct access to the beach from the main level back door. Landlord will pay for yearly parking permit.

  • June, 2019

  • Jun 7, 2019

    Date

    Leased

    CRMLS: OC19033952

    $2,400

    Price

  • Feb 26, 2019

    Date

    Active

    CRMLS: OC19033952

    $2,500

    Price

  • Listing provided courtesy of CRMLS

    Ocean front living between the Balboa Pier and the wedge. Professionally designed and newly remodeled one bedroom condo. Upgrades include new flooring, kitchen cabinets, counter tops, appliances and bathroom. Enjoy all ocean front living on the Peninsula has to offer including the beach, the waves, beautiful sunsets, the pier and park. Ample entertainment options like the Balboa Fun Zone, ferry to Balboa Island, shops and great restaurants are just a short walk away. The front deck is common space for all tenants and the there is direct access to the beach from the main level back door. Landlord will pay for yearly parking permit.

  • May, 2019

  • May 21, 2019

    Date

    Leased

    CRMLS: OC19032702

    $2,000

    Price

  • Feb 26, 2019

    Date

    Active

    CRMLS: OC19032702

    $2,000

    Price

  • Listing provided courtesy of CRMLS

    Ocean front living between the Balboa Pier and the wedge. Professionally designed and newly remodeled studio. Upgrades include new flooring, kitchen cabinets, counter tops, appliances and bathroom. Enjoy all ocean front living on the Peninsula has to offer including the beach, the waves, beautiful sunsets, the pier and park. Ample entertainment options like the Balboa Fun Zone, ferry to Balboa Island, shops and great restaurants are just a short walk away. The front deck is common space for all tenants and the there is direct access to the beach from the main level back door. Landlord will pay for yearly parking permit.

  • March, 2019

  • Mar 20, 2019

    Date

    Leased

    CRMLS: OC19033954

    $2,800

    Price

  • Feb 26, 2019

    Date

    Active

    CRMLS: OC19033954

    $2,800

    Price

  • Listing provided courtesy of CRMLS

    Ocean front living between the Balboa Pier and the wedge. Professionally designed and newly remodeled two bedroom condo. Upgrades include new flooring, kitchen cabinets, counter tops, appliances and bathroom. Enjoy all ocean front living on the Peninsula has to offer including the beach, the waves, beautiful sunsets, the pier and park. Ample entertainment options like the Balboa Fun Zone, ferry to Balboa Island, shops and great restaurants are just a short walk away. The front deck is common space for all tenants and the there is direct access to the beach from the main level back door. Landlord will pay for yearly parking permit.

  • September, 2017

  • Sep 7, 2017

    Date

    Sold (Public Records)

    Public Records

    $5,800,000

    Price

  • February, 2017

  • Feb 8, 2017

    Date

    Sold (Public Records)

    Public Records

    --

    Price

Show More

Tax History for 1007 E Balboa Blvd

Assessed Value (2020): $5,890,117
Year Land Value Improved Value Assessed Value
2020 $5,301,105 $589,012 $5,890,117

Home Value Compared to the Market

This property vs the competition

1007 E Balboa Blvd is listed 122.02% higher than the median list price for the city of Newport Beach which has a median list price of $4,495,000. The median price per/sqft for Newport Beach is $1,507 and this home is listed at $2121.6 per/sqft which puts the price per square foot 40.78% higher than the median price per square foot for the city of Newport Beach.

About 1007 E Balboa Blvd

Detailed summary of property

1007 E Balboa Blvd is a multi family located in Newport Beach, CA 92661 and is currently for sale. This multi family property offers 100 bedrooms, -- bathrooms, roughly 4,704 living square feet, and sits on an approximately 3,485 square foot lot. 1007 E Balboa Blvd was first listed on ArdentRealEstateGroup.com on March 20, 2024. The homeowner is currently asking $9,980,000. The median priced home in Newport Beach is $4,495,000 with a median price per square foot of $1,507. Based on Ardent Real Estate Group's Newport Beach Market Data, this home is listed 122.02% higher than the median priced home. While the average home in Newport Beach, CA is selling in 78 days, 1007 E Balboa Blvd has a days on market of 7 days. There are currently 243 homes for sale in the Newport Beach real estate market and 193 of them are single family homes while 41 of them are condos and 9 are townhomes. For more information on this home for sale at 1007 E Balboa Blvd Newport Beach, CA 92661 contact Ardent Real Estate Group and we will put you in touch with one of our Newport Beach agents.

Public Facts for 1007 E Balboa Blvd

Public county record property details
Beds
--
Baths
--
Year built
1909
Sq. Ft.
4,704
Lot Size
3,144
Stories
2
Type
Apartments (Generic)
Pool
No
Spa
No
County
Orange
Lot#
4
APN
048-144-04

The source for these homes facts are from public records.

92661 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends
Median List Price
$6,750,000
Median List Price/Sq.Ft.
$2,243
Median Sold Price
$1,310,000
Median Sold Price/Sq.Ft.
$1,236
Total Inventory
45
Median Sale to List Price %
100.77%
Avg Days on Market
0
Loan Type
Conventional (0%), FHA (0%), VA (0%), Cash (0%), Other (100%)

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Related Resources to 1007 E Balboa Blvd

Based on information from California Regional Multiple Listing Service, Inc. as of 2019. 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.