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1609 E Balboa Blvd, Newport Beach, CA 92661
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1609 E Balboa Blvd Newport Beach, CA 92661

$3,850,000 Sold Price as of 12/20/2021
  • 5 Beds
  • 4 Baths
  • 2,756 Sq.Ft.
Sold
$3,850,000 Sold Price as of 12/20/2021 Refinance Your Mortgage
Map preview of 1609 E Balboa Blvd, Newport Beach, CA 92661

Property Overview: 1609 E Balboa Blvd Newport Beach, CA has 5 bedrooms, 4 bathrooms, 2,756 living square feet and 2,474 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Agent Remarks: Located in one of the most desirable destinations in Newport Beach, only steps from the beach and bay, 1609 E Balboa Blvd is your opportunity to own the most charming quadruplex on the Balboa Peninsula Point. Meticulously maintained and extensively upgraded last year, this truly exceptional property allows you to reap the benefits of instant and reliable income while enjoying the beach lifestyle for yourself if you so choose. Embodying the perfect coastal chic vibe with (1) two-bedroom, one-bathroom unit, a bonus studio and (3) completely remodeled one-bedroom, one-bathroom units with new wood-planked laminate flooring, custom wainscoting, crown molding, trending barn doors throughout and fireplaces make this property feel like an upscale, elegant and intimate beach retreat. In addition, the fully updated kitchens are guaranteed to impress, with new cabinetry, subway tile backsplash, white-quartz countertops and large farm sinks. Refrigerators, the gas stove/ovens, microwaves and new USB outlets top it all off, while the immaculate bathrooms will leave you feeling blissful. Stay cool and relaxed in the ocean breeze with new windows and custom shades for privacy and comfort. The building also includes an on-site laundry room with two sets of brand new front-load washers & dryers and plentiful storage for your paddleboards and bikes. Three epoxied and redone garages provide additional storage and income opportunity. The spacious and newly furnished front patio is the perfect scene for your summer barbecues and gatherings. Last but not least enjoy peace of mind with a completely new sewer line from the property to the city main, as well as new plumbing and electrical. The property has the potential to gross over $200,000 in short-term rental income. Walking distance to the beach, bay, restaurants, boutiques, and world famous Wedge surf spot, this property offers the quintessential Newport lifestyle. The Peninsula Point is famous for its iconic festivities, including the Christmas Boat Parade, 4th of July parade and fireworks, Friday night potlucks at the private Bay Beach, the private tennis club. This is a rare chance to place your stake amongst some of the most prized and sought-after real estate in the world.

Listed by Giovanne Helou | BRE #02068352 | The Oppenheim Group
Co-listed by Lisa Helou | BRE #00624164 | The Oppenheim Group
Last checked: 4 minutes ago | Last updated: March 23rd, 2022 | Source CRMLS | DOM: 16

Home details

Lot Sq. Ft
2,474
HOA Dues
$0/mo
Year built
1949
Garage
3 Car
Property Type:
Fourplex
Status
Sold
MLS#
OC21223383
City
Newport Beach
County
Orange
Time on Site
937 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 4
  • Total # of Buildings: 1
  • # of Leased Units: 5
  • # of Electric Meters: 4
  • # of Gas Meters: 4
  • # of Water Meters: 4
Unit Breakdown 1
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $2,675
  • Total Rent: $2,675
  • Pro Forma/Market Rent: $2,959
Unit Breakdown 2
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $2,675
  • Total Rent: $2,675
  • Pro Forma/Market Rent: $2,959
Unit Breakdown 3
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $2,500
  • Total Rent: $2,500
  • Pro Forma/Market Rent: $2,959
Unit Breakdown 4
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $2,325
  • Total Rent: $2,325
  • Pro Forma/Market Rent: $4,497
Multi-Family Income/Expense Information
Property Income and Analysis
  • Gross Rent Multiplier: --
  • Gross Scheduled Income: $136,020
  • Net Operating Income: $105,107
  • Gross Operating Income: --
  • # of Rented Garages: 0
Annual Expense Breakdown
  • Total Operating Expense: $30,913
  • Electric: $1,440
  • New Taxes: $25,400
  • Trash: $255
  • Insurance: $2,708
  • Maintenance: $960
  • Water/Sewer: $150

Virtual Tour

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Property Details for 1609 E Balboa Blvd

Interior Features
Cooling Information
  • No Cooling
  • None
Heating Information
  • Has Heating
  • Wall Furnace
Laundry Information
  • Has Laundry
  • Common Area, Community, Individual Room, Inside
Fireplace Information
  • Has Fireplace
  • Family Room, Living Room
Room Information
  • Flooring: Carpet, Vinyl
Kitchen Information
  • Has Appliances
  • Barbecue, Convection Oven, Dishwasher, Freezer, Disposal, Gas Range, Microwave, Refrigerator
Interior Features
  • 2 Staircases, Built-in Features, Ceiling Fan(s), Crown Molding, High Ceilings, Open Floorplan, Pantry, Stone Counters, Storage, Wainscoting
  • Levels: Two
Exterior Features
Exterior Information
  • Barbecue Private
  • No Spa
  • Spa Features: None
Exterior Features
  • No Pool
  • Pool Features: None
Lot Details / Garage and Parking
Parking/Garage Information
  • # of Garage Spaces: 3
  • # of Parking Spaces: 3
  • Has Parking
  • Parking Features: Garage, Garage Faces Rear, Private
Lot Information
  • Lot Features: 2-5 Units/Acre
  • Lot Size Source: Assessor
  • Common Interest: None
Property Information
  • Common Walls: No Common Walls
  • Total # of Units: 4
  • Parcel Number: 04819108
  • Year Built Source: Assessor
  • Architectural Style: Cape Cod, Craftsman
  • Property is not Attached
  • Accessibility Features: 2+ Access Exits
  • Property Condition: Turnkey, Updated/Remodeled
Homeowners Association, Utilities, Taxes / Assessments
Homeowners Association
  • Is Not Part of Association
Utilities Information
  • Sewer: Public Sewer
  • Water Source: Public
  • Utilities: Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected
Assessment Information
  • No Assessments
  • Assessments: None
Location / Neighborhood
Location Information
  • Subdivision Name: Balboa Peninsula Point (BLPP)
  • Directions: Cross streets: E Balboa Blvd & H Street
  • Road Frontage Type: Alley, City Street
  • Road Surface Type: Alley Paved
Neighborhood Information
  • Community Features: Biking, Curbs, Sidewalks, Street Lights
View more facts & features

Local Newport Beach Agent

Sale History for 1609 E Balboa Blvd

Last sold for $3,850,000 on December 20th, 2021

  • October, 2021

  • Oct 24, 2021

    Date

    Active Under Contract

    CRMLS: OC21223383

    $3,850,000

    Price

  • Oct 9, 2021

    Date

    Active

    CRMLS: OC21223383

    $3,850,000

    Price

  • October, 2021

  • Oct 24, 2021

    Date

    Active Under Contract

    CRMLS: OC21223753

    $3,850,000

    Price

  • Oct 9, 2021

    Date

    Active

    CRMLS: OC21223753

    $3,850,000

    Price

  • Listing provided courtesy of CRMLS

    Located in one of the most desirable destinations in Newport Beach, only steps from the beach and bay, 1609 E Balboa Blvd is your opportunity to own the most charming quadruplex on the Balboa Peninsula Point. Meticulously maintained and extensively upgraded last year, this truly exceptional property allows you to reap the benefits of instant and reliable income while enjoying the beach lifestyle for yourself if you so choose. Embodying the perfect NANTUCKET coastal style vibe with (1) two-bedroom, one-bathroom unit, a bonus studio and (3) completely remodeled one-bedroom, one-bathroom units with new wood-planked laminate flooring, custom wainscoting, crown molding, trending barn doors throughout and fireplaces make this property feel like an upscale eastern seaboard retreat. In addition, the fully updated kitchens are guaranteed to impress, with new cabinetry, subway tile backsplash, white-quartz countertops and large farm sinks. Refrigerators, the gas stove/ovens, microwaves and new USB outlets top it all off, while the immaculate bathrooms will leave you feeling blissful. Stay cool and relaxed in the ocean breeze with new windows and custom shades for privacy and comfort. The building also includes an on-site laundry room with two sets of brand new front-load washers & dryers and plentiful storage for your paddleboards and bikes. Three epoxied and redone garages provide additional storage and income opportunity. The spacious and newly furnished front patio is the perfect scene for your summer barbecues and gatherings. Last but not least enjoy peace of mind with a completely new sewer line from the property to the city main, as well as new plumbing and electrical. The property has the potential to gross over $200,000 in short-term rental income. Walking distance to the beach, bay, restaurants, boutiques, and world famous Wedge surf spot, this property offers the quintessential Newport lifestyle. The Peninsula Point is famous for its iconic festivities, including the Christmas Boat Parade, 4th of July parade and fireworks, Friday night potlucks at the private Bay Beach, the private tennis club. This is a rare chance to place your stake amongst some of the most prized and sought-after real estate in the world.

  • July, 2020

  • Jul 25, 2020

    Date

    Sold

    CRMLS: NP19161789

    $2,200,000

    Price

  • Jul 16, 2020

    Date

    Active Under Contract

    CRMLS: NP19161789

    $2,195,000

    Price

  • Jul 6, 2020

    Date

    Active

    CRMLS: NP19161789

    $2,195,000

    Price

  • Jul 3, 2020

    Date

    Expired

    CRMLS: NP19161789

    $2,195,000

    Price

  • Jul 3, 2020

    Date

    Active

    CRMLS: NP19161789

    $2,195,000

    Price

  • May 26, 2020

    Date

    Active Under Contract

    CRMLS: NP19161789

    $2,195,000

    Price

  • May 4, 2020

    Date

    Active

    CRMLS: NP19161789

    $2,195,000

    Price

  • May 2, 2020

    Date

    Expired

    CRMLS: NP19161789

    $2,195,000

    Price

  • May 2, 2020

    Date

    Active

    CRMLS: NP19161789

    $2,195,000

    Price

  • Dec 30, 2019

    Date

    Active Under Contract

    CRMLS: NP19161789

    $2,195,000

    Price

  • Nov 20, 2019

    Date

    Price Change

    CRMLS: NP19161789

    $2,195,000

    Price

  • Oct 10, 2019

    Date

    Active

    CRMLS: NP19161789

    $2,349,000

    Price

  • Sep 24, 2019

    Date

    Active Under Contract

    CRMLS: NP19161789

    $2,349,000

    Price

  • Jul 10, 2019

    Date

    Active

    CRMLS: NP19161789

    $2,349,000

    Price

  • Listing provided courtesy of CRMLS

    Presenting a wonderful opportunity for instant income is this charming quadruplex located seconds to both the beach and bay within the highly desirable neighborhood of Peninsula Point. Encompassing (1) two-bedroom, one-bathroom unit and (3) one-bedroom, one-bathroom units, the property allows plenty of space for the future owner or manager to live on-site for easy property management. Three single garages provide additional storage and opportunity for income - previously rented at rate of $200/mo per garage. Given the high demand of the Newport Beach rental market, the future owner of this premier property has the potential to gross approximately $167,000/ year on all units and garages combined. Surrounded by multi-million dollar homes near the Fun Zone, countless shops and restaurants, this picturesque coastal residence is the perfect investment and place to call to home.

  • July, 1998

  • Jul 8, 1998

    Date

    Sold (Public Records)

    Public Records

    --

    Price

Show More

Tax History for 1609 E Balboa Blvd

Assessed Value (2020): $254,900
Year Land Value Improved Value Assessed Value
2020 $193,724 $61,176 $254,900

Home Value Compared to the Market

This property vs the competition

1609 E Balboa Blvd sold on December 20, 2021 for 4.05% higher 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 $1396.95 per/sqft which puts the price per square foot 2.72% higher than the current median sale per square foot for the city of Newport Beach.

About 1609 E Balboa Blvd

Detailed summary of property

1609 E Balboa Blvd is a fourplex that recently sold in Newport Beach, CA 92661. This fourplex offered 5 bedrooms, 4 bathrooms, roughly 2,756 living square feet, and sits on an approximately 2,474 square foot lot. 1609 E Balboa Blvd was first listed on ArdentRealEstateGroup.com on October 9, 2021. The homeowner sold the property for $3,850,000. 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 4.05% higher than the current median priced home. Local homes that are currently for sale include 410 Clubhouse Ave, 164 Walnut St and 213 41st St. While the average home in Newport Beach, CA is selling in 74 days, 1609 E Balboa Blvd has a days on market of 16 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 1609 E 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 1609 E Balboa Blvd

Public county record property details
Beds
--
Baths
--
Year built
1949
Sq. Ft.
2,756
Lot Size
2,472
Stories
--
Type
Apartments (Generic)
Pool
No
Spa
No
County
Orange
Lot#
8
APN
048-191-08

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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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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