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122 28Th St, Newport Beach, CA 92663
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122 28Th St Newport Beach, CA 92663

$2,975,000 Sold Price as of 02/28/2023
  • 5 Beds
  • 3 Baths
  • 2,052 Sq.Ft.
Sold
$2,975,000 Sold Price as of 02/28/2023 Refinance Your Mortgage
Map preview of 122 28Th St, Newport Beach, CA 92663

Property Overview: 122 28Th St Newport Beach, CA has 5 bedrooms, 3 bathrooms, 2,052 living square feet and 2,178 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Agent Remarks: 122 28th St is a Vacation Rental Duplex on the highly sought after Balboa Peninsula. It's only 9 homes from the sand and water! This property offers a 3 bedroom/2 Bathroom (downstairs) and a 2 bedroom/1 bathroom (upstairs). Both units have been renovated and ready to help your portfolio cashflow. Each unit has 1 garage parking spot and plenty of street parking available. This property has been a great rental for the last decade and with the current gross income approximately at $155,000 per year. There is still upside for the next owner to raise rents to market, as similar properties are currently collecting near $195,000 per year.

Listed by Alex Guyenne | BRE #02022004 | eXp Realty of California Inc.
Last checked: 14 minutes ago | Last updated: March 30th, 2023 | Source CRMLS | DOM: 10

Home details

Lot Sq. Ft
2,178
HOA Dues
$0/mo
Year built
1951
Garage
2 Car
Property Type:
Duplex
Status
Sold
MLS#
DW22259032
City
Newport Beach
County
Orange
Time on Site
495 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 2
  • Total # of Buildings: 1
  • # of Leased Units: 2
  • # of Electric Meters: 2
  • # of Gas Meters: 2
  • # of Water Meters: 1
Unit Breakdown 1
  • # of Units: 1
  • # of Beds: 3
  • # of Baths: 2
  • Garage Spaces: 1
  • Garaged Attached? No
  • Furnishing: Partially
  • Actual Rent: $78,250
  • Total Rent: --
  • Pro Forma/Market Rent: $95,750
Unit Breakdown 2
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 1
  • Garage Spaces: 1
  • Garaged Attached? No
  • Furnishing: Partially
  • Actual Rent: $71,950
  • Total Rent: --
  • Pro Forma/Market Rent: $86,750
Multi-Family Income/Expense Information
Property Income and Analysis
  • Gross Rent Multiplier: --
  • Gross Scheduled Income: $150,200
  • Net Operating Income: $147,495
  • Gross Operating Income: --
Annual Expense Breakdown
  • Total Operating Expense: $2,705
  • Trash: $350
  • Insurance: $895
  • Water/Sewer: $1,460

Property Details for 122 28Th St

Interior Features
Cooling Information
  • Has Cooling
  • Wall/Window Unit(s)
Laundry Information
  • Has Laundry
  • Individual Room, Inside
Fireplace Information
  • No Fireplace
  • None
Room Information
  • Flooring: Laminate
  • Living Room
Interior Features
  • Balcony, Ceiling Fan(s)
  • Levels: Two
Exterior Features
Exterior Information
  • No Spa
  • Spa Features: None
Exterior Features
  • No Pool
  • Pool Features: None
Lot Details / Garage and Parking
Parking/Garage Information
  • # of Garage Spaces: 2
  • # of Parking Spaces: 2
  • Has Parking
  • Parking Features: Garage
Lot Information
  • Lot Features: 0-1 Unit/Acre
  • Lot Size Source: Assessor
  • Common Interest: None
Property Information
  • Has View
  • View: Ocean
  • Common Walls: No Common Walls
  • Total # of Units: 2
  • Parcel Number: 04709203
  • 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: Buyer to Verify
Location / Neighborhood
Location Information
  • Directions: W. Balboa to 28th Street
Neighborhood Information
  • Community Features: Curbs, Sidewalks, Street Lights, Suburban
View more facts & features

Local Newport Beach Agent

Sale History for 122 28Th St

Last sold for $2,975,000 on February 28th, 2023

  • February, 2023

  • Feb 28, 2023

    Date

    Sold

    CRMLS: DW22259032

    $2,975,000

    Price

  • Jan 3, 2023

    Date

    Active

    CRMLS: DW22259032

    $3,000,000

    Price

Tax History for 122 28Th St

Assessed Value (2020): $606,325
Year Land Value Improved Value Assessed Value
2020 $339,542 $266,783 $606,325

Home Value Compared to the Market

This property vs the competition

122 28Th St sold on February 28, 2023 for 18.92% 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 $1461.99 per/sqft which puts the price per square foot 7.5% higher than the current median sale per square foot for the city of Newport Beach.

About 122 28Th St

Detailed summary of property

122 28Th St is a duplex that recently sold in Newport Beach, CA 92663. This duplex offered 5 bedrooms, 3 bathrooms, roughly 2,052 living square feet, and sits on an approximately 2,178 square foot lot. 122 28Th St was first listed on ArdentRealEstateGroup.com on January 2, 2023. The homeowner sold the property for $2,975,000. 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 18.92% lower than the current median priced home. Local homes that are currently for sale include 206 Chicago Ave, 218 Indianapolis Ave and 205 19th St. While the average home in Newport Beach, CA is selling in 73 days, 122 28Th St has a days on market of 10 days. There are currently 283 homes for sale in the Newport Beach real estate market and 213 of them are single family homes while 58 of them are condos and 12 are townhomes. For more information on this home for sale at 122 28Th St Newport Beach, CA 92663 contact Ardent Real Estate Group and we will put you in touch with one of our Newport Beach agents.

Public Facts for 122 28Th St

Public county record property details
Beds
--
Baths
--
Year built
1951
Sq. Ft.
2,052
Lot Size
2,431
Stories
2
Type
Duplex (2 Units, Any Combination)
Pool
No
Spa
No
County
Orange
Lot#
17
APN
047-092-03

The source for these homes facts are from public records.

92663 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends
Median List Price
$4,395,000
Median List Price/Sq.Ft.
$1,557
Median Sold Price
$3,700,000
Median Sold Price/Sq.Ft.
$1,494
Total Inventory
91
Median Sale to List Price %
105.87%
Avg Days on Market
21
Loan Type
Conventional (17.65%), FHA (0%), VA (0%), Cash (47.06%), Other (35.29%)

Thinking of Selling?

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(714) 706-1823

Homes for Sale Near 122 28Th St

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Recently Sold Homes Near 122 28Th St

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2711 W Balboa Blvd, Newport Beach, CA 92663
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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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