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1028 W Balboa Blvd, Newport Beach, CA 92661
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1028 W Balboa Blvd Newport Beach, CA 92661

$2,675,000 Sold Price as of 12/27/2021
  • 5 Beds
  • 3 Baths
  • 2,590 Sq.Ft.
Sold
$2,675,000 Sold Price as of 12/27/2021 Refinance Your Mortgage
Map preview of 1028 W Balboa Blvd, Newport Beach, CA 92661

Property Overview: 1028 W Balboa Blvd Newport Beach, CA has 5 bedrooms, 3 bathrooms, 2,590 living square feet and 3,049 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Agent Remarks: Located steps from the beach and bay, this triplex presents the golden opportunity for an investor to purchase a trophy-location residential income asset in the heart of the highly sought-after Balboa Peninsula. 1028 W Balboa consists of three well-maintained units: a spacious two-bed/one-bath front unit, a completely renovated and turn-key one-bed/one-bath middle unit, and an even larger two-bed/one-bath back unit with a private balcony. The ally-facing carport features parking for three large cars plus locking storage. As a legal grandfathered triplex, this property's incredible location and key zoning offers tremendous upside for investors and provides buyers seeking to owner-occupy the opportunity to cash flow two units while living in one. Centrally located just blocks from numerous top-notch restaurants, premier retail destinations, and leisure activities. When considering the sum of great wealth accumulation through asset appreciation, along with the in-demand area's continuous growth in rental demand, this property is an ideal investment with great asset security for any smart investor looking to own on the coveted Balboa Peninsula. PROPERTY VIDEO: https://youtu.be/QI8Mane_H0U

Listed by Andrew Kaiser | BRE #02016818 | Matthews Real Estate Investment Services
Last checked: 9 minutes ago | Last updated: March 23rd, 2022 | Source CRMLS | DOM: 6

Home details

Lot Sq. Ft
3,049
HOA Dues
$0/mo
Year built
1964
Garage
--
Property Type:
Multi Family
Status
Sold
MLS#
21100203
City
Newport Beach
County
Orange
Time on Site
897 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 3
  • Total # of Buildings: 1
Unit Breakdown 1
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,800
  • Total Rent: $1,800
  • Pro Forma/Market Rent: $3,900
Unit Breakdown 2
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $950
  • Total Rent: $950
  • Pro Forma/Market Rent: $2,900
Unit Breakdown 3
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,975
  • Total Rent: $1,975
  • Pro Forma/Market Rent: $4,000
Multi-Family Income/Expense Information
Property Income and Analysis
  • Gross Rent Multiplier: 45.8
  • Gross Scheduled Income: --
  • Net Operating Income: $23,207
  • Gross Operating Income: $55,566
Annual Expense Breakdown
  • Total Operating Expense: --

Property Details for 1028 W Balboa Blvd

Interior Features
Cooling Information
  • No Cooling
  • None
Lot Details / Garage and Parking
Parking/Garage Information
  • # of Parking Spaces: 3
  • Has Parking
  • Parking Features: Built-In Storage, Carport, Covered
Lot Information
  • Lot Size Source: Other
Property Information
  • Total # of Units: 3
  • Parcel Number: 04726424
Location / Neighborhood
Location Information
  • Directions: Located on the bayside of W Balboa Blvd between 10th and 11th St.
View more facts & features

Local Newport Beach Agent

Sale History for 1028 W Balboa Blvd

Last sold for $2,675,000 on December 27th, 2021

  • December, 2021

  • Dec 27, 2021

    Date

    Sold

    CRMLS: 21100203

    $2,675,000

    Price

  • Nov 11, 2021

    Date

    Active

    CRMLS: 21100203

    $2,595,000

    Price

  • October, 1996

  • Oct 1, 1996

    Date

    Sold (Public Records)

    Public Records

    $355,000

    Price

  • December, 1993

  • Dec 30, 1993

    Date

    Sold (Public Records)

    Public Records

    $315,000

    Price

Show More

Tax History for 1028 W Balboa Blvd

Assessed Value (2020): $516,618
Year Land Value Improved Value Assessed Value
2020 $402,962 $113,656 $516,618

Home Value Compared to the Market

This property vs the competition

1028 W Balboa Blvd sold on December 27, 2021 for 1.18% lower than the current median sold price for the city of Newport Beach which is $2,626,000. The median sold price per/sqft for Newport Beach is $1,073 and this home is sold at $1001.93 per/sqft which puts the price per square foot 6.62% lower than the current median sale per square foot for the city of Newport Beach.

About 1028 W Balboa Blvd

Detailed summary of property

1028 W Balboa Blvd is a multi family that recently sold in Newport Beach, CA 92661. This multi family property offered 5 bedrooms, 3 bathrooms, roughly 2,590 living square feet, and sits on an approximately 3,049 square foot lot. 1028 W Balboa Blvd was first listed on ArdentRealEstateGroup.com on November 4, 2021. The homeowner sold the property for $2,675,000. Home in Newport Beach are selling for a median price of $2,626,000 and a median price per square foot of $1,073. Based on Ardent Real Estate Group's Newport Beach Market Data, this home is sold 1.18% lower than the current median priced home. Local homes that are currently for sale include 150 Cecil Pl, 186 Del Mar Ave and 1022 El Camino Dr. While the average home in Newport Beach, CA is selling in 76 days, 1028 W Balboa Blvd has a days on market of 6 days. There are currently 259 homes for sale in the Newport Beach real estate market and 190 of them are single family homes while 54 of them are condos and 15 are townhomes. For more information on this home for sale at 1028 W 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 1028 W Balboa Blvd

Public county record property details
Beds
--
Baths
--
Year built
--
Sq. Ft.
--
Lot Size
3,255
Stories
--
Type
Multi-Family Dwellings (Generic, Any Combination 2+)
Pool
No
Spa
No
County
Orange
Lot#
8
APN
047-264-24

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
$6,595,000
Median List Price/Sq.Ft.
$2,243
Median Sold Price
$11,100,000
Median Sold Price/Sq.Ft.
$2,775
Total Inventory
46
Median Sale to List Price %
94.11%
Avg Days on Market
174
Loan Type
Conventional (33.33%), FHA (0%), VA (0%), Cash (33.33%), Other (33.33%)

Thinking of Selling?

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(714) 706-1823

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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.

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