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1212 W Balboa Blvd, Newport Beach, CA 92661
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1212 W Balboa Blvd Newport Beach, CA 92661

$2,500,000 Sold Price as of 09/06/2022
  • 5 Beds
  • 4 Baths
  • 2,412 Sq.Ft.
Sold
$2,500,000 Sold Price as of 09/06/2022 Refinance Your Mortgage
Map preview of 1212 W Balboa Blvd, Newport Beach, CA 92661

Property Overview: 1212 W Balboa Blvd Newport Beach, CA has 5 bedrooms, 4 bathrooms, 2,412 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: 1212 West Balboa Boulevard is a 3-unit multifamily investment property located on the affluent and highly desirable Balboa Peninsula, one of the premier coastal housing markets in Southern California. Built in 1948 and 1961, 1212 West Balboa Boulevard offers an excellent mix of 1, one-bedroom unit and 2, two-bedroom units. The property features community amenities including 2 single-car garages, 1 surface parking space, and on-site laundry as well as unit amenities including recessed lighting and ceiling fans. All three units were last renovated between 2009 and 2013 and through a unit modernization plan a new owner could achieve substantial rental upside. 1212 West Balboa Boulevard is situated in Newport Beach, just steps from world famous beaches, Newport Elementary School, and the Marina Park Community Center. The property is also located just a short drive from the numerous boutiques, high-end restaurants, and popular entertainment destinations spread across the peninsula.

Listed by Tyler Leeson | BRE #01451551 | Marcus & Millichap RE Invest
Last checked: 7 minutes ago | Last updated: September 9th, 2022 | Source CRMLS | DOM: 28

Home details

Lot Sq. Ft
3,049
HOA Dues
$0/mo
Year built
1948
Garage
2 Car
Property Type:
Multi Family
Status
Sold
MLS#
OC22158036
City
Newport Beach
County
Orange
Time on Site
645 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 3
  • Total # of Buildings: 2
  • # of Leased Units: 3
  • # of Electric Meters: 3
  • # of Gas Meters: 3
  • # of Water Meters: 1
Unit Breakdown 1
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $2,000
  • Total Rent: $2,000
  • Pro Forma/Market Rent: $2,600
Unit Breakdown 2
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 1
  • Garage Spaces: 1
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $2,900
  • Total Rent: $2,900
  • Pro Forma/Market Rent: $3,200
Unit Breakdown 3
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 2
  • Garage Spaces: 1
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $2,600
  • Total Rent: $2,600
  • Pro Forma/Market Rent: $3,500
Multi-Family Income/Expense Information
Property Income and Analysis
  • Gross Rent Multiplier: --
  • Gross Scheduled Income: $90,000
  • Net Operating Income: $51,158
  • Gross Operating Income: $87,900
  • Vacancy Allowance: $2,700
  • Laundry Income: $600
Annual Expense Breakdown
  • Total Operating Expense: $36,742
  • Electric: $0
  • Gas/Fuel: $628
  • New Taxes: $29,460
  • Trash: $0
  • Insurance: $1,500
  • Maintenance: $2,100
  • Water/Sewer: $628
  • Other Expenses: $2,427
  • Other Expense Description: Misc

Property Details for 1212 W Balboa Blvd

Interior Features
Laundry Information
  • Has Laundry
  • Community
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: 3
Lot Information
  • Lot Features: Level with Street
  • Lot Size Source: Assessor
  • Common Interest: Community Apartment
Property Information
  • Common Walls: No Common Walls
  • Total # of Units: 3
  • Parcel Number: 04723413
  • Year Built Source: Assessor
  • Property is not Attached
Homeowners Association, Utilities, Taxes / Assessments
Utilities Information
  • Sewer: Public Sewer
  • Water Source: Public
Assessment Information
  • Has Assessments
  • Assessments: Special Assessments
Location / Neighborhood
Location Information
  • Directions: Nearby Cross Streets: 12th Street & West Balboa Boulevard
Neighborhood Information
  • Community Features: Curbs, Sidewalks
View more facts & features

Local Newport Beach Agent

Sale History for 1212 W Balboa Blvd

Last sold for $2,500,000 on September 6th, 2022

  • September, 2022

  • Sep 6, 2022

    Date

    Sold

    CRMLS: OC22158036

    $2,500,000

    Price

  • Jul 18, 2022

    Date

    Active

    CRMLS: OC22158036

    $2,800,000

    Price

  • October, 2019

  • Oct 8, 2019

    Date

    Leased

    CRMLS: PW19234750

    $2,000

    Price

  • Oct 3, 2019

    Date

    Active

    CRMLS: PW19234750

    $1,900

    Price

  • Listing provided courtesy of CRMLS

    Fantastic and beautifully updated 1 Bedroom 1 Full bath apartment across the street from the beach on Balboa Peninsula! This wonderful unit features beautiful rustic tile flooring throughout, updated kitchen with all appliances seen in photos , and updated full bathroom with stylish vanity. The property has on-site laundry and the unit comes with a one carport space. Owner pays for water.

  • January, 2013

  • Jan 15, 2013

    Date

    Sold (Public Records)

    Public Records

    --

    Price

  • October, 2012

  • Oct 2, 2012

    Date

    Sold (Public Records)

    Public Records

    --

    Price

Show More

Tax History for 1212 W Balboa Blvd

Assessed Value (2020): $1,230,560
Year Land Value Improved Value Assessed Value
2020 $1,144,421 $86,139 $1,230,560

Home Value Compared to the Market

This property vs the competition

1212 W Balboa Blvd sold on September 6, 2022 for 24.32% 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 $1160.86 per/sqft which puts the price per square foot 14.64% lower than the current median sale per square foot for the city of Newport Beach.

About 1212 W Balboa Blvd

Detailed summary of property

1212 W Balboa Blvd is a multi family that recently sold in Newport Beach, CA 92661. This multi family property offered 5 bedrooms, 4 bathrooms, roughly 2,412 living square feet, and sits on an approximately 3,049 square foot lot. 1212 W Balboa Blvd was first listed on ArdentRealEstateGroup.com on July 26, 2022. The homeowner sold the property for $2,500,000. 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 24.32% lower than the current median priced home. Local homes that are currently for sale include 1924 Maple Ave, 353 Hamilton St and 150 Cecil Pl. While the average home in Newport Beach, CA is selling in 74 days, 1212 W Balboa Blvd has a days on market of 28 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 1212 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 1212 W Balboa Blvd

Public county record property details
Beds
2
Baths
2
Year built
1961
Sq. Ft.
875
Lot Size
3,302
Stories
--
Type
Duplex (2 Units, Any Combination)
Pool
No
Spa
No
County
Orange
Lot#
4
APN
047-234-13

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%)

Thinking of Selling?

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Recently Sold Homes Near 1212 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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