1216 W Balboa Blvd, Newport Beach, CA 92661
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1216 W Balboa Blvd Newport Beach, CA 92661

$7,695,000
  • 14 Beds
  • 11 Baths
  • 5,565 Sq.Ft.
For Sale
$7,695,000 Get Pre-Qualified

Map preview of 1216 W Balboa Blvd, Newport Beach, CA 92661

Property Overview: 1216 W Balboa Blvd Newport Beach, CA has 14 bedrooms, 11 bathrooms, 5,565 living square feet and 6,232 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: The Lightsand Apartment Homes is a seven-unit multifamily property located just one block (500 feet) from the sands of Newport Beach, at 1216 W. Balboa Blvd. This rare coastal offering provides an investor the opportunity to own a trophy asset in one of the most highly coveted locations in all of California. Exclusively comprised of two-bedroom floor plans featuring generous outdoor space with large patios.

Listed by Michael O'Neill II | BRE #02036937 | CB Richard Ellis, Inc.
Last checked: 7 minutes ago | Last updated: July 26th, 2022 | Source CRMLS | DOM: 68
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Home details

Lot Sq. Ft
6,232
HOA Dues
$0/mo
Year built
1949
Garage
4 Car
Property Type:
Multi Family
Status
Active
MLS#
22166569
City
Newport Beach
County
Orange
Time on Site
68 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 7
  • Total # of Buildings: 1
Unit Breakdown 1
  • # of Units: 4
  • # of Beds: 2
  • # of Baths: 2
  • Furnishing: Unfurnished
  • Actual Rent: $4,375
  • Total Rent: $17,500
  • Pro Forma/Market Rent: $19,600
Unit Breakdown 2
  • # of Units: 3
  • # of Beds: 2
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $3,967
  • Total Rent: $11,900
  • Pro Forma/Market Rent: $12,900
Multi-Family Income/Expense Information
Property Income and Analysis
  • Gross Rent Multiplier: 21.02
  • Gross Scheduled Income: --
  • Net Operating Income: $242,113
  • Gross Operating Income: $355,416
Annual Expense Breakdown
  • Total Operating Expense: --

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Property Details for 1216 W Balboa Blvd

Lot Details / Garage and Parking
Parking/Garage Information
  • # of Garage Spaces: 4
  • # of Parking Spaces: 8
  • Has Parking
  • Parking Features: Garage - Single Door, Uncovered
Lot Information
  • Lot Size Source: Assessor
Property Information
  • Total # of Units: 7
  • Parcel Number: 04723414
Location / Neighborhood
Location Information
  • Directions: From CA-55 S/State Rte 55 S, Continue onto Newport Blvd., Continue onto W. Balboa Blvd., Make a U-Turn at 11th St., Property will be on the right
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Sale History for 1216 W Balboa Blvd

Last leased for $3,900 on February 22nd, 2022
  • August, 2022

  • Aug 15, 2022

    Date

    Active

    CRMLS: PW22179568

    $4,995

    Price

  • Listing provided courtesy of CRMLS

    The final Lightsand apartment home at 1216 West Balboa is now ready for move-in. Be first to live in a completely remodeled modern coastal chic apartment home just 1 block from the harbor and 2 blocks from the sand!!! This expansive 1st floor two-bedroom, 2-bathroom boutique beach cottage has been completely reimagined and extensively renovated including the addition of in-unit LG stacked washer & dryer, all new modern bathroom tile, glass shower doors, and luxury fixtures. This unit also has ample outdoor shared deck space and comes with brand new West Elm living room furniture. All seven beach cottage homes at this asset enjoy an extensive designer exterior make-over, including new shared lounge spaces, community beach cruiser bicycles, laundry facility for sandy items (in-unit laundry for all else), an outdoor shower, all new landscaping, new facade, designer front doors, asset signage, and modern outdoor lighting. Ample parking off-site and not included in private lots or from the City of Newport Beach nearby.

  • August, 2022

  • Aug 1, 2022

    Date

    Expired

    CRMLS: PW22108099

    $4,900

    Price

  • May 27, 2022

    Date

    Active

    CRMLS: PW22108099

    $4,800

    Price

  • Listing provided courtesy of CRMLS

    The final Lightsand apartment home at 1216 West Balboa is now ready for move-in. Be first to live in a completely remodeled modern coastal chic apartment home just 1 block from the harbor and 2 blocks from the sand!!! This expansive 1st floor two-bedroom, 2-bathroom boutique beach cottage has been completely reimagined and extensively renovated including the addition of in-unit LG stacked washer & dryer, all new modern bathroom tile, glass shower doors, and luxury fixtures. This unit also has ample outdoor shared deck space and comes with brand new West Elm living room furniture. All seven beach cottage homes at this asset enjoy an extensive designer exterior make-over, including new shared lounge spaces, community beach cruiser bicycles, laundry facility for sandy items (in-unit laundry for all else), an outdoor shower, all new landscaping, new facade, designer front doors, asset signage, and modern outdoor lighting. Ample parking off-site and not included in private lots or from the City of Newport Beach nearby. With summer right around the corner, this is the perfect future for twelve-months or beyond.

  • June, 2022

  • Jun 10, 2022

    Date

    Active

    CRMLS: 22166569

    $7,695,000

    Price

  • February, 2022

  • Feb 22, 2022

    Date

    Leased

    CRMLS: PW22011904

    $3,900

    Price

  • Jan 20, 2022

    Date

    Active

    CRMLS: PW22011904

    $3,750

    Price

  • Listing provided courtesy of CRMLS

    Be first to live in this expansive 1st floor two-bedroom, one-bathroom boutique beach cottage, extensively remodeled and located just 1 block from the harbor and 2 blocks from the sand!!! The Lightsand Apartment Homes at 1216 W. Balboa Blvd. have recently undergone a complete interior and exterior make-over, including the addition of in-unit LG stacked washer & dryer, all new modern bathroom tile, glass shower doors, luxury fixtures throughout, common lounge spaces complete with gas bbq and fire pit, community bikes, an outdoor shower, all new landscaping, new siding, designer front doors, new signage, and modern outdoor lighting. On-site garage parking available for an additional fee or rent a space nearby. Owner pays water/trash/gas, tenant pays electric.

  • February, 2022

  • Feb 6, 2022

    Date

    Leased

    CRMLS: PW21270536

    $4,700

    Price

  • Dec 31, 2021

    Date

    Active

    CRMLS: PW21270536

    $4,200

    Price

  • Listing provided courtesy of CRMLS

    This modern coastal apartment home has been extensively remodeled including the addition of in-unit LG stacked washer & dryer, all new modern bathroom tile, glass shower doors, and luxury fixtures throughout. This expansive 1st floor two-bedroom, two-bathroom boutique beach cottage is located just 1 block from the harbor and 2 blocks from the sand!!! The Lightsand Beach Cottages at 1216 W. Balboa Blvd. have also recently undergone complete exterior make-over, with common lounge spaces complete with gas bbq and fire pit, community bikes, beach laundry facility for sandy items, an outdoor shower, all new landscaping, new siding, designer front doors, new signage, and modern outdoor lighting. On-site parking available for an additional fee or rent a space nearby. Owner pays water/trash/gas, tenant pays electric.

  • January, 2022

  • Jan 28, 2022

    Date

    Leased

    CRMLS: PW21226452

    $4,100

    Price

  • Dec 21, 2021

    Date

    Price Change

    CRMLS: PW21226452

    $4,100

    Price

  • Oct 27, 2021

    Date

    Price Change

    CRMLS: PW21226452

    $4,000

    Price

  • Listing provided courtesy of CRMLS

    Completely remodeled modern coastal chic apartment home just 1 block from the harbor and 2 blocks from the sand!!! This expansive 2nd floor two bedroom, one bathroom boutique beach cottage has been completely reimagined and extensively renovated including the addition of in-unit LG stacked washer & dryer, all new modern bathroom tile, glass shower doors, and luxury fixtures. This unit also has an exclusive 100 sf outdoor deck, in addition to ample outdoor shared decks. The Lightsand Beach Cottages at 1216 W. Balboa Blvd. will also be undergoing a complete exterior make-over, with common lounge spaces complete with gas bbq and fire pit, community bikes, beach laundry facility for sandy items, an outdoor shower, all new landscaping, new siding, designer front doors, new signage, and modern outdoor lighting. On-site parking available for an additional fee or rent a space nearby. MOVE-IN by December 1st and receive 2 weeks free rent with a qualified application complete by 11/30.

  • December, 2021

  • Dec 19, 2021

    Date

    Leased

    CRMLS: PW21234830

    $4,200

    Price

  • Listing provided courtesy of CRMLS

    Completely remodeled modern coastal chic apartment home just 1 block from the harbor and 2 blocks from the sand!!! This expansive 2nd floor two bedroom, 2 bathroom boutique beach cottage has been completely reimagined and extensively renovated including the addition of in-unit LG stacked washer & dryer, all new modern bathroom tile, glass shower doors, and luxury fixtures. This unit also has ample outdoor shared deck space. The Lightsand Beach Cottages at 1216 W. Balboa Blvd. will also be undergoing a complete exterior make-over, with common lounge spaces complete with gas bbq and fire pit, community bikes, beach laundry facility for sandy items, an outdoor shower, all new landscaping, new siding, designer front doors, new signage, and modern outdoor lighting. On-site parking available for an additional fee or rent a space nearby. MOVE-IN by December 1st and receive 2 weeks free rent with a qualified application complete by 11/30.

  • October, 2021

  • Oct 27, 2021

    Date

    Price Change

    CRMLS: PW21194089

    $3,900

    Price

  • Oct 9, 2021

    Date

    Price Change

    CRMLS: PW21194089

    $4,000

    Price

  • Sep 11, 2021

    Date

    Active

    CRMLS: PW21194089

    $3,800

    Price

  • Sep 3, 2021

    Date

    Price Change

    CRMLS: PW21194089

    $3,800

    Price

  • Sep 3, 2021

    Date

    Coming Soon

    CRMLS: PW21194089

    $3,900

    Price

  • Listing provided courtesy of CRMLS

    Completely remodeled modern coastal chic apartment home just 1 block from the harbor and 2 blocks from the sand!!! This expansive 2nd floor two bedroom, one bathroom boutique beach cottage has been completely reimagined and extensively renovated including the addition of in-unit LG stacked washer & dryer, all new modern bathroom tile, glass shower doors, and luxury fixtures. This unit also has ample outdoor shared deck space. The Lightsand Beach Cottages at 1216 W. Balboa Blvd. will also be undergoing a complete exterior make-over, with common lounge spaces complete with gas bbq and fire pit, community bikes, beach laundry facility for sandy items, an outdoor shower, all new landscaping, new siding, designer front doors, new signage, and modern outdoor lighting. On-site parking available for an additional fee or rent a space nearby. MOVE-IN by December 1st and receive 2 weeks free rent with a qualified application complete by 11/30.

  • October, 2021

  • Oct 12, 2021

    Date

    Leased

    CRMLS: PW21208377

    $4,200

    Price

  • Oct 6, 2021

    Date

    Active

    CRMLS: PW21208377

    $4,200

    Price

  • Listing provided courtesy of CRMLS

    Be first to live in this modern coastal chic apartment home just 1 block from the harbor and 2 blocks from the sand!!! This expansive 2nd floor two bedroom, two bathroom unit has been completely reimagined and extensively renovated including the addition of in-unit LG stacked washer & dryer, all new modern bathroom tile, glass shower doors, and luxury fixtures. These Lightsand Beach Cottages will also be undergoing a complete exterior make-over, with common lounge spaces, all new landscaping, new siding, new signage, and modern outdoor lighting. Parking available for an additional fee. Owner also has approved Short-Term-Rental permits with the City of Newport Beach should you seek to lease this out while you're out of town! Apply now, this won't last long!

  • June, 2021

  • Jun 3, 2021

    Date

    Sold

    CRMLS: CV21029693

    $4,683,000

    Price

  • Mar 25, 2021

    Date

    Pending

    CRMLS: CV21029693

    $4,999,888

    Price

  • Mar 22, 2021

    Date

    Active Under Contract

    CRMLS: CV21029693

    $4,999,888

    Price

  • Feb 12, 2021

    Date

    Active

    CRMLS: CV21029693

    $4,999,888

    Price

  • Listing provided courtesy of CRMLS

    NEWPORT BEACH 7 UNIT ON THE BALBOA PENINSULA. THIS TROPHY PROPERTY IS LOCATED IN THE HEART OF NEWPORT BEACH. FEATURES A DOUBLE LOT, ON-SITE LAUNDRY ROOM, GARAGES AND PARKING SPACES INCLUDED. CURRENT OWNER HAS 7 AirBnb LICENSES. FOUR 2 BEDROOM 2 BATH AND THREE 2 BEDROOM 1 BATH UNITS. UNITS ARE CURRENTLY ON MONTH TO MONTH OR YEARLY LEASES.

  • March, 2021

  • Mar 6, 2021

    Date

    Leased

    CRMLS: IV21009353

    $2,400

    Price

  • Jan 15, 2021

    Date

    Active

    CRMLS: IV21009353

    $2,400

    Price

  • Listing provided courtesy of CRMLS

    Unit #3 first floor, 2 bed room , one bath for lease. One block from the beach. Street Parking. Optional City Parking permit available from City of Newport (Jan-Sept $179.75; Oct - Dec $45). No pets allowed. On site (not within the unit) coin operated washer (1) and dryer (1). One year lease, then month to month thereafter.

  • March, 2021

  • Mar 6, 2021

    Date

    Leased

    CRMLS: IV21020025

    $2,600

    Price

  • Jan 30, 2021

    Date

    Active

    CRMLS: IV21020025

    $2,600

    Price

  • Listing provided courtesy of CRMLS

    Unit #5, first floor, 2 bedroom, 1 bath for lease. One parking space assigned within a shared garage with another unit. One block from the beach. No Pets allowed. On site (not within the unit) coin operated washer/dryer. One year lease, then month to month thereafter.

  • February, 2021

  • Feb 12, 2021

    Date

    Expired

    CRMLS: CV21005090

    $4,999,888

    Price

  • Jan 9, 2021

    Date

    Active

    CRMLS: CV21005090

    $4,999,888

    Price

  • Listing provided courtesy of CRMLS

    SEVEN UNIT MULTI-FAMILY IN THE CENTER OF NEWPORT BEACH. BETWEEN THE BAY AND THE OCEAN. DOUBLE LOT. WALK ONE BLOCK TO THE BAY OR BEACH.

  • January, 2021

  • Jan 9, 2021

    Date

    Expired

    CRMLS: CV20250732

    $4,999,888

    Price

  • Dec 3, 2020

    Date

    Active

    CRMLS: CV20250732

    $4,999,888

    Price

  • Listing provided courtesy of CRMLS

    SEVEN UNIT MULTI-FAMILY BUILDING IN THE HEART OF NEWPORT BEACH ON THE BALBOA PENINSULA. (4) 2/2 & (3) 2/1 UNITS. ONE BLOCK OFF THE BAY AND BEACH. THIS IS A TROPHY PROPERTY FEATURING A DOUBLE LOT AND RECENTLY REMODELED INTERIORS. OWNER CURRENTLY HAS 7 LICENSES FOR AirBNB. 4 UNITS ARE ON MONTH TO MONTH AND THREE ARE ON YEARLY LEASES.

  • January, 2021

  • Jan 5, 2021

    Date

    Leased

    CRMLS: IV20249767

    $2,600

    Price

  • Dec 2, 2020

    Date

    Active

    CRMLS: IV20249767

    $2,500

    Price

  • Listing provided courtesy of CRMLS

    1216 W. Balboa Blvd, Unit 1 for lease. 2 bedroom, 2 bath. 1 block from the beach. Street parking. No pets allowed. Onsite (not within the unit) coin operated washer and dryer.

  • December, 2020

  • Dec 3, 2020

    Date

    Expired

    CRMLS: CV20163077

    $4,999,888

    Price

  • Aug 12, 2020

    Date

    Active

    CRMLS: CV20163077

    $4,999,888

    Price

  • Listing provided courtesy of CRMLS

    SEVEN UNIT BUILDING IN NEWPORT BEACH ON THE BALBOA PENINSULA. CLOSE TO THE BEACH AND THE BAY. RECENTLY UPGRADED. DOUBLE SIZED LOT. SELLER CURRENTLY HAS CITY OF NEWPORT BEACH SHORT TERM RENTAL LICENSES ON ALL UNITS. ON-SITE LAUNDRY. GREAT MIX OF UNITS WITH RENTAL $ UPSIDES. FOUR 2 BEDROOMS WITH 2 BATHS, THREE 2 BEDROOMS WITH 1 BATH. THIS IS A TROPHY LOCATION PROPRTY.

  • July, 2020

  • Jul 20, 2020

    Date

    Leased

    CRMLS: IV20136536

    $2,400

    Price

  • Jul 11, 2020

    Date

    Active

    CRMLS: IV20136536

    $2,300

    Price

  • Listing provided courtesy of CRMLS

    1216 W. Balboa Blvd, Unit 4 for lease. 2 bedroom, 1 bath. 1 block from the beach. Optional shared Garage space for additional $100/month. No Pets allowed. Onsite (not within the unit) coin operated washer and dryer.

  • April, 2020

  • Apr 1, 2020

    Date

    Expired

    CRMLS: CV19201913

    $5,400,000

    Price

  • Aug 23, 2019

    Date

    Active

    CRMLS: CV19201913

    $5,400,000

    Price

  • Listing provided courtesy of CRMLS

    ** PRIDE OF OWNERSHIP! Highly desirable 7 unit multifamily coastal property on the sought-after Balboa Blvd strip. Popular unit mix of (4) two bedrooms and two baths and (3) two bedrooms and 1 bath. Well maintained and very low maintenance building. Operates at 100% full occupancy with long term career professionals as tenants. All units are remodeled, upgraded and turnkey. New owners will not have to do anything. In addition, there is room to increase rents. Perfect upleg in a 1031 exchange. Will not last long and priced to sell.

  • August, 2019

  • Aug 17, 2019

    Date

    Canceled

    CRMLS: IV19110528

    $5,500,000

    Price

  • May 14, 2019

    Date

    Active

    CRMLS: IV19110528

    $5,500,000

    Price

  • Listing provided courtesy of CRMLS

    7 Unit Multi Family Apartment Complex on Balboa Peninsula. Sits on 2 lots. One block from the beach. Completely Remodeled in 2011.

  • October, 2012

  • Oct 3, 2012

    Date

    Sold (Public Records)

    Public Records

    $3,075,000

    Price

  • March, 2010

  • Mar 26, 2010

    Date

    Sold (Public Records)

    Public Records

    $1,398,500

    Price

Show More

Tax History for 1216 W Balboa Blvd

Assessed Value (2020): $3,358,271
Year Land Value Improved Value Assessed Value
2020 $2,787,365 $570,906 $3,358,271

Home Value Compared to the Market

This property vs the competition

1216 W Balboa Blvd is listed 129.77% higher than the median list price for the city of Newport Beach which has a median list price of $3,349,000. The median price per/sqft for Newport Beach is $1,159 and this home is listed at $1382.75 per/sqft which puts the price per square foot 19.31% higher than the median price per square foot for the city of Newport Beach.

About 1216 W Balboa Blvd

Detailed summary of property

1216 W Balboa Blvd is a multi family located in Newport Beach, CA 92661 and is currently for sale. This multi family property offers 14 bedrooms, 11 bathrooms, roughly 5,565 living square feet, and sits on an approximately 6,232 square foot lot. 1216 W Balboa Blvd was first listed on ArdentRealEstateGroup.com on June 10, 2022. The homeowner is currently asking $7,695,000. The median priced home in Newport Beach is $3,349,000 with a median price per square foot of $1,159. Based on Ardent Real Estate Group's Newport Beach Market Data, this home is listed 129.77% higher than the median priced home. Local competing homes currently for sale include 95 17th St, 2521 Alma Ave and 1218 Arapahoe St. While the average home in Newport Beach, CA is selling in 66 days, 1216 W Balboa Blvd has a days on market of 68 days. There are currently 246 homes for sale in the Newport Beach real estate market and 184 of them are single family homes while 52 of them are condos and 10 are townhomes. For more information on this home for sale at 1216 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 1216 W Balboa Blvd

Public county record property details
Beds
--
Baths
--
Year built
1949
Sq. Ft.
5,382
Lot Size
6,020
Stories
2
Type
Apartments (Generic)
Pool
No
Spa
No
County
Orange
Lot#
5
APN
047-234-14

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
$5,325,000
Median List Price/Sq.Ft.
$2,259
Median Sold Price
$6,900,000
Median Sold Price/Sq.Ft.
$2,300
Total Inventory
23
Median Sale to List Price %
106.15%
Avg Days on Market
60
Loan Type
Conventional (0%), FHA (0%), VA (0%), Cash (75%), Other (25%)

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Related Resources to 1216 W 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.