301 E Balboa Blvd Newport Beach, CA 92661

$375,000

-- Beds
-- Baths
1,638 Sq.Ft.

Off Market

Map preview of 301 E Balboa Blvd, Newport Beach, CA 92661

Property Overview: 301 E Balboa Blvd Newport Beach, CA has -- bedrooms, -- bathrooms, 1,638 living square feet and 2,630 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Home Value Compared to the Market

301 E Balboa Blvd is currently an off market home in the city of Newport Beach. If you are considering making a home purchase, the value you pay for your home will depend on the market you're looking to purchase in. The city of Newport Beach has a median list price of $4,295,000. The median price per/sqft for Newport Beach is $1,506. With those numbers in mind, if you are looking to purchase a median priced home in Newport Beach, CA and put 20% down you will need to save up $859,000 for the down payment and will need roughly $85,900 for closing costs on top of the down payment. Homeowners who are looking to sell their home could expect to pay an average of 5% (2.5% to the listing agent and 2.5% to the buyers agent) in agent commissions when it comes to selling their home. With the median sale price for a home in Newport Beach the commission could be as much as $131,300. If you're thinking of selling and want to save, contact a local Ardent Real Estate Agent today.

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Sale History for 301 E Balboa Blvd

View property's historical transactions

April, 2024
Apr 24, 2024

Date

Expired

CRMLS: OC23202618

$2,995,000

Price
Nov 1, 2023

Date

Active

CRMLS: OC23202618

$2,995,000

Price
Listing provided courtesy of CRMLS

The Cottage at Balboa Peninsula is a quaint investment opportunity at the corner of Coronado Street and East Balboa Boulevard. It has a long and storied history which includes operating as a family compound, vacation rentals and, in its current configuration, as a 4 unit multifamily rental. The front unit which is on the corner of Balboa Boulevard and Coronado Street is two- bedrooms with one bath and a kitchen and small dining area. Two of the units (Units 1 and 2) are one bedrooms with one bath. One unit is a studio unit. Both the ones and the studio unit have kitchenettes. What makes this property particularly valuable is its corner location on Balboa Boulevard which takes it away from the Balboa Peninsula boardwalk while still providing ocean views and only being a few feet from the sand combined with the opportunity for an investor to redevelop the site. The City of Newport Beach will allow for the property to be redeveloped in a two-story, 2 unit plus one ADU configuration. Two parking spaces would be required. Even though 301 E. Balboa does not have beach frontage, because of its frontage on Coronado Street, each unit of a new development can be configured to have unobstructed ocean views. The property can then be operated as a rental property, a personal multi- unit residence or, if given City approval, vacation rentals. *** PLEASE NOTE THAT ALL INCOME AND EXPENSE INFORMATION SHOWN ON MLS FOR THIS PROPERTY IS PRO FORMA ***

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Tax History for 301 E Balboa Blvd

Assessed Value (2020): $610,864

Year	Land Value	Improved Value	Assessed Value
2020	$494,800	$116,064	$610,864

About 301 E Balboa Blvd

Detailed summary of property

301 E Balboa Blvd is categorized with a use code of Commercial Building, Mail Order, Show Room (Non-Auto), Commercial Whse in Newport Beach, CA 92661 and is currently off market. This property has -- bedrooms, -- bathrooms, roughly 1,638 living square feet, and sits on an approximately 2,630 square foot lot. Homes in Newport Beach are selling for a median price of $2,626,000 and a median price per square foot of $1,073. Based on Ardent Real Estate Group's Newport Beach Market Data, this home is sold 85.72% lower than the current median priced home. Local nearby listings include 613 E Balboa Blvd #A, 615 E Balboa #A and 615 E Balboa. The average home in Newport Beach, CA is selling in 72 days. There are currently 266 homes for sale in the Newport Beach real estate market and 196 of them are single family homes while 56 of them are condos and 14 are townhomes. If you are the homeowner and looking to sell the home at 301 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 301 E Balboa Blvd

Public county record property details

Beds: --
Baths: --
Year built: 1921
Sq. Ft.: 1,638
Lot Size: 2,630
Stories: 1

Type: Commercial Building, Mail Order, Show Room (Non-Auto), Commercial Whse
Pool: No
Spa: No
County: Orange
Lot#: 18
APN: 048-082-01

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

$6,595,000

Median List Price/Sq.Ft.

$2,183

Median Sold Price

$11,100,000

Median Sold Price/Sq.Ft.

$2,775

Total Inventory

Median Sale to List Price %

94.11%

Avg Days on Market

174

Loan Type

Conventional (33.33%), FHA (0%), VA (0%), Cash (33.33%), Other (33.33%)

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