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1140 W Balboa Blvd, Newport Beach, CA 92661
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1140 W Balboa Blvd Newport Beach, CA 92661

$2,375,000 Sold Price as of 05/02/2023
  • 5 Beds
  • 3 Baths
  • 2,250 Sq.Ft.
Sold
$2,375,000 Sold Price as of 05/02/2023 Refinance Your Mortgage
Map preview of 1140 W Balboa Blvd, Newport Beach, CA 92661

Property Overview: 1140 W Balboa Blvd Newport Beach, CA has 5 bedrooms, 3 bathrooms, 2,250 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: A unique opportunity to acquire a Residential Duplex on Balboa Boulevard in Newport Beach, CA. The Residential Duplex consists of a one unit that is comprised of a 3 bedroom / 2 bathroom and another unit that is a 2 bedroom /1 bathroom. Both units are currently on MTM Leases at below market rent, which allows an investor the opportunity to bring the units to market rent. In addition, the duplex currently zoned for R-2, which allows for short term lodging (less than 30 consecutive days) with a city permit. The subject property is located in Newport Beach, CA, specifically in the affluent neighborhood of Balboa Peninsula. The duplex is ideally located on Balboa Boulevard near 11th street, which is a couple blocks from the beach and the bay. commonly known as the Balboa Peninsula of Newport Beach, CA. The property is within walking distance to Newport Pier, Marina Park, Newport Elementary School, the Balboa Fun Zone and numerous restaurants and shops. The duplex is within a few miles of Hoag Hospital, which regionally and nationally ranked by U.S. News & World Report.

Listed by Philip Immel | BRE #00545198 | Pacific Sotheby's International Realty
Co-listed by Ryan Immel | BRE #01975613 | Pacific Sotheby's International Realty
Last checked: 9 minutes ago | Last updated: June 5th, 2023 | Source CRMLS | DOM: 114

Home details

Lot Sq. Ft
3,049
HOA Dues
$0/mo
Year built
1955
Garage
2 Car
Property Type:
Duplex
Status
Sold
MLS#
OC22233646
City
Newport Beach
County
Orange
Time on Site
546 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 2
  • Total # of Buildings: 1
  • # of Electric Meters: 2
  • # of Gas Meters: 2
  • # of Water Meters: 1
Unit Breakdown 1
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 1
  • Garage Spaces: 1
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $2,500
  • Total Rent: $2,500
  • Pro Forma/Market Rent: $30,000
Unit Breakdown 2
  • # of Units: 1
  • # of Beds: 3
  • # of Baths: 2
  • Garage Spaces: 1
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $4,500
  • Total Rent: $4,500
  • Pro Forma/Market Rent: $54,000
Multi-Family Income/Expense Information
Property Income and Analysis
  • Gross Rent Multiplier: --
  • Gross Scheduled Income: $84,000
  • Net Operating Income: $50,567
  • Gross Operating Income: --
Annual Expense Breakdown
  • Total Operating Expense: $31,753
  • Trash: $156
  • Insurance: $937
  • Water/Sewer: $781

Property Details for 1140 W Balboa Blvd

Interior Features
Laundry Information
  • Has Laundry
  • In Garage
Interior Features
  • Levels: One, Two
Exterior Features
Exterior Features
  • No Pool
  • Pool Features: None
Lot Details / Garage and Parking
Parking/Garage Information
  • # of Garage Spaces: 2
  • # of Parking Spaces: 2
Lot Information
  • Lot Features: Rectangular Lot
  • Lot Size Source: Assessor
  • Common Interest: None
Property Information
  • Common Walls: No Common Walls
  • Total # of Units: 2
  • Parcel Number: 04726322
  • Year Built Source: Assessor
  • Property is not Attached
Homeowners Association, Utilities, Taxes / Assessments
Utilities Information
  • Sewer: Public Sewer
  • Water Source: Public
Location / Neighborhood
Location Information
  • Subdivision Name: Balboa Peninsula (Residential) (BALP)
  • Directions: PCH to Balboa Blvd to 11th Street
Neighborhood Information
  • Community Features: Watersports, Sidewalks
View more facts & features

Local Newport Beach Agent

Sale History for 1140 W Balboa Blvd

Last sold for $2,375,000 on May 2nd, 2023

  • May, 2023

  • May 2, 2023

    Date

    Sold

    CRMLS: OC22233646

    $2,375,000

    Price

  • Nov 2, 2022

    Date

    Active

    CRMLS: OC22233646

    $2,495,000

    Price

  • September, 2017

  • Sep 15, 2017

    Date

    Sold

    CRMLS: NP17141654

    $1,875,000

    Price

  • Sep 13, 2017

    Date

    Pending

    CRMLS: NP17141654

    $1,949,000

    Price

  • Aug 8, 2017

    Date

    Price Change

    CRMLS: NP17141654

    $1,949,000

    Price

  • Jun 22, 2017

    Date

    Active

    CRMLS: NP17141654

    $2,099,000

    Price

  • Listing provided courtesy of CRMLS

    Only one block to the beach and one block to the bay, this is the perfect beach house for summer on the Peninsula. Front unit offers two bedrooms and one bath with street facing patio. Rear "owner's unit" is two stories with three bedrooms and two baths with large private back balcony. Private patio space separates both units. Oversized two car garage with additional storage space for bikes and all your beach toys. This property has been immaculately well-maintained and is move-in ready just in time for summer.

  • September, 2017

  • Sep 15, 2017

    Date

    Sold

    CRMLS: NP17138750

    $1,850,000

    Price

  • Sep 11, 2017

    Date

    Pending

    CRMLS: NP17138750

    $2,099,000

    Price

  • Jun 19, 2017

    Date

    Active

    CRMLS: NP17138750

    $2,099,000

    Price

  • Listing provided courtesy of CRMLS

    Only one block to the beach and one block to the bay, this is the perfect beach house for summer on the Peninsula. Front unit offers two bedrooms and one bath with street facing patio. Rear "owner's unit" is two stories with three bedrooms and two baths with large private back balcony. Private patio space separates both units. Oversized two car garage with additional storage space for bikes and all your beach toys. This property has been immaculately well-maintained and is move-in ready just in time for summer.

  • September, 2017

  • Sep 15, 2017

    Date

    Sold (Public Records)

    Public Records

    $1,804,000

    Price

  • May, 2002

  • May 9, 2002

    Date

    Sold (Public Records)

    Public Records

    $640,000

    Price

Show More

Tax History for 1140 W Balboa Blvd

Assessed Value (2020): $1,876,621
Year Land Value Improved Value Assessed Value
2020 $1,777,104 $99,517 $1,876,621

Home Value Compared to the Market

This property vs the competition

1140 W Balboa Blvd sold on May 2, 2023 for 32.57% lower than the current median sold price for the city of Newport Beach which is $3,700,000. The median sold price per/sqft for Newport Beach is $1,360 and this home is sold at $1108.89 per/sqft which puts the price per square foot 18.46% lower than the current median sale per square foot for the city of Newport Beach.

About 1140 W Balboa Blvd

Detailed summary of property

1140 W Balboa Blvd is a duplex that recently sold in Newport Beach, CA 92661. This duplex offered 5 bedrooms, 3 bathrooms, roughly 2,250 living square feet, and sits on an approximately 3,049 square foot lot. 1140 W Balboa Blvd was first listed on ArdentRealEstateGroup.com on November 3, 2022. The homeowner sold the property for $2,375,000. Home in Newport Beach are selling for a median price of $3,700,000 and a median price per square foot of $1,360. Based on Ardent Real Estate Group's Newport Beach Market Data, this home is sold 32.57% lower than the current median priced home. Local homes that are currently for sale include 353 Hamilton St, 150 Cecil Pl and 186 Del Mar Ave. While the average home in Newport Beach, CA is selling in 74 days, 1140 W Balboa Blvd has a days on market of 114 days. There are currently 269 homes for sale in the Newport Beach real estate market and 201 of them are single family homes while 55 of them are condos and 13 are townhomes. For more information on this home for sale at 1140 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 1140 W Balboa Blvd

Public county record property details
Beds
1
Baths
1
Year built
1955
Sq. Ft.
692
Lot Size
3,126
Stories
1
Type
Single Family Residential
Pool
No
Spa
No
County
Orange
Lot#
11
APN
047-263-22

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.
$2,241
Median Sold Price
$4,625,000
Median Sold Price/Sq.Ft.
$1,741
Total Inventory
45
Median Sale to List Price %
92.59%
Avg Days on Market
69
Loan Type
Conventional (12.5%), FHA (0%), VA (0%), Cash (37.5%), Other (37.5%)

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Recently Sold Homes Near 1140 W Balboa Blvd

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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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