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

$1,025,000 Sold Price as of 05/14/2019
  • -- Beds
  • -- Baths
  • 800 Sq.Ft.
Sold
$1,025,000 Sold Price as of 05/14/2019 Refinance Your Mortgage
Map preview of 505 E Balboa Blvd, Newport Beach, CA 92661

Property Overview: 505 E Balboa Blvd Newport Beach, CA has -- bedrooms, -- bathrooms, 800 living square feet and 2,614 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Agent Remarks: Location! Location! Great Investment Opportunity priced to sell on the Balboa Peninsula in Newport Beach, CA. TEAR DOWN priced at Lot Value (LAND PRICE: approx. $500 per/sqft.) Value is in the land not the existing buildings!! 505 E Balboa is 1 of 2 contiguous parcels (TO BE SOLD IN CONJUNCTION WITH 503 E Balboa (NP19024127), zoned for mixed use with great potential upside in the Balboa Village. Each parcel individually can accommodate live/work lofts of approx. 3000sft. Contingent upon coastal commission approval, 505 can be combined with 503 E Balboa into one parcel to accommodate 3 residential condos (approx. 5130 sqft combined) and 1 commercial condo (approx. 1800 sqft.) for maximum return on investment. (Call Listing Agent for details). Across the street at 500 E Balboa is a very comparable development that is going through its final approvals at the city. Once built, the condos will have tremendous unobstructed views of the bay, ocean, city, and mountains. At the present, 505 E Balboa has a small duplex with combined monthly rents of $3450 plus utilities that will help cover any expenses incurred while the potential buyer pushes the project through the City. Located just steps to the beach, the Balboa Pier, the Balboa Ferry, shops, restaurants, and the bay, 503 E Balboa to be sold in conjunction with 505 E Balboa. DO NOT DISTURB Tenants! Buyer to cooperate with seller’s 1031 Exchange. Buyers to confirm square footage & lot potential with the City of NB.

Listed by Alex Batley | BRE #01365952 | Balboa Realty
Co-listed by Artie Dorr | BRE #01899740 | Balboa Realty
Last checked: 2 minutes ago | Last updated: March 22nd, 2022 | Source CRMLS | DOM: 41

Home details

Lot Sq. Ft
2,614
HOA Dues
$0/mo
Year built
1919
Garage
--
Property Type:
Mixed Use
Status
Sold
MLS#
NP19016695
City
Newport Beach
County
Orange
Time on Site
1398 days
Property Unit Breakdown
Unit Mix Summary
  • Total # of Units: --
  • Total # of Buildings: 1
  • # of Leased Units: 2
Property Income/Expense Information
Property Income and Analysis
  • Gross Rent Multiplier: --
  • Gross Scheduled Income: --
  • Net Operating Income: --
  • Gross Operating Income: --
Annual Expense Breakdown
  • Total Operating Expense: --

Property Details for 505 E Balboa Blvd

Interior Features
Laundry Information
  • None
Lot Details / Garage and Parking
Lot Information
  • Lot Features: 0-1 Unit/Acre
  • Lot Size Source: Assessor
Property Information
  • Parcel Number: 04812203
Homeowners Association, Utilities, Taxes / Assessments
Utilities Information
  • Water Source: Public
Location / Neighborhood
Location Information
  • Directions: East on Balboa Blvd. from PCH
View more facts & features

Local Newport Beach Agent

Sale History for 505 E Balboa Blvd

Last sold for $2,050,000 on May 14th, 2019

  • April, 2021

  • Apr 1, 2021

    Date

    Expired

    CRMLS: AR21013945

    $3,200

    Price

  • Mar 16, 2021

    Date

    Withdrawn

    CRMLS: AR21013945

    $3,200

    Price

  • Jan 21, 2021

    Date

    Active

    CRMLS: AR21013945

    $3,200

    Price

  • Listing provided courtesy of CRMLS

    CLOSE TO BAY AND STEPS TO BEACH WITH ALLEY ACCESS.

  • January, 2021

  • Jan 1, 2021

    Date

    Expired

    CRMLS: AR20230583

    $3,500

    Price

  • Nov 1, 2020

    Date

    Active

    CRMLS: AR20230583

    $3,500

    Price

  • Listing provided courtesy of CRMLS

    RENTAL INCLUDING ALL UTILITIES. CLOSE TO BAY AND STEPS TO BEACH WITH ALLEY ACCESS.

  • November, 2020

  • Nov 1, 2020

    Date

    Expired

    CRMLS: AR20184575

    $3,800

    Price

  • Oct 18, 2020

    Date

    Price Change

    CRMLS: AR20184575

    $3,800

    Price

  • Sep 22, 2020

    Date

    Price Change

    CRMLS: AR20184575

    $3,500

    Price

  • Sep 5, 2020

    Date

    Active

    CRMLS: AR20184575

    $3,800

    Price

  • Listing provided courtesy of CRMLS

    RENTAL INCLUDING ALL UTILITIES. CLOSE TO BAY AND STEPS TO BEACH WITH ALLEY ACCESS.

  • May, 2019

  • May 15, 2019

    Date

    Sold

    CRMLS: NP19022516

    $1,025,000

    Price

  • Mar 26, 2019

    Date

    Active Under Contract

    CRMLS: NP19022516

    $1,200,000

    Price

  • Mar 15, 2019

    Date

    Price Change

    CRMLS: NP19022516

    $1,200,000

    Price

  • Feb 1, 2019

    Date

    Active

    CRMLS: NP19022516

    $1,350,000

    Price

  • Listing provided courtesy of CRMLS

  • May, 2019

  • May 15, 2019

    Date

    Sold

    CRMLS: NP19016695

    $1,025,000

    Price

  • Mar 13, 2019

    Date

    Active Under Contract

    CRMLS: NP19016695

    $1,350,000

    Price

  • Jan 29, 2019

    Date

    Active

    CRMLS: NP19016695

    $1,350,000

    Price

  • May, 2019

  • May 14, 2019

    Date

    Sold (Public Records)

    Public Records

    $2,050,000

    Price

  • July, 2006

  • Jul 27, 2006

    Date

    Sold (Public Records)

    Public Records

    $1,000,000

    Price

Show More

Tax History for 505 E Balboa Blvd

Assessed Value (2020): $822,920
Year Land Value Improved Value Assessed Value
2020 $748,857 $74,063 $822,920

Home Value Compared to the Market

This property vs the competition

505 E Balboa Blvd sold on May 14, 2019 for 63.51% 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 $1687.5 per/sqft which puts the price per square foot 24.08% higher than the current median sale per square foot for the city of Newport Beach.

About 505 E Balboa Blvd

Detailed summary of property

505 E Balboa Blvd is a mixed use that recently sold in Newport Beach, CA 92661. This mixed use property offered -- bedrooms, -- bathrooms, roughly 800 living square feet, and sits on an approximately 2,614 square foot lot. 505 E Balboa Blvd was first listed on ArdentRealEstateGroup.com on July 20, 2020. The homeowner sold the property for $1,025,000. 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 63.51% lower than the current median priced home. Local homes that are currently for sale include 13575 Magnolia Ave, 11010 Willowbrook Ave and 1137 E Mission Blvd. While the average home in Newport Beach, CA is selling in 73 days, 505 E Balboa Blvd has a days on market of 41 days. There are currently 293 homes for sale in the Newport Beach real estate market and 219 of them are single family homes while 63 of them are condos and 11 are townhomes. For more information on this home for sale at 505 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 505 E Balboa Blvd

Public county record property details
Beds
--
Baths
--
Year built
1919
Sq. Ft.
955
Lot Size
2,288
Stories
2
Type
Commercial Building, Mail Order, Show Room (Non-Auto), Commercial Whse
Pool
No
Spa
No
County
Orange
Lot#
3
APN
048-122-03

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
$6,695,000
Median List Price/Sq.Ft.
$2,144
Median Sold Price
$4,625,000
Median Sold Price/Sq.Ft.
$1,741
Total Inventory
50
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 505 E Balboa Blvd

503 E Balboa Blvd, Newport Beach, CA 92661
$1,025,000 Last Sold Price
-- Beds
-- Baths
800 Sq.Ft.
503 E Balboa Blvd
Newport Beach, CA 92661
701 E Balboa Blvd, Newport Beach, CA 92661
$1,800,000 Last Sold Price
-- Beds
-- Baths
2600 Sq.Ft.
701 E Balboa Blvd
Newport Beach, CA 92661
217 Marine Ave, Newport Beach, CA 92662
$2,325,000 Last Sold Price
-- Beds
-- Baths
2170 Sq.Ft.
217 Marine Ave
Newport Beach, CA 92662
320 Marine Ave, Newport Beach, CA 92662
$2,210,000 Last Sold Price
-- Beds
-- Baths
1668 Sq.Ft.
320 Marine Ave
Newport Beach, CA 92662

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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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