Newport Beach, CA 92661,109 E Balboa BLVD
Newport Beach, CA 92661,109 E Balboa BLVD
Newport Beach, CA 92661,109 E Balboa BLVD
$3,350,000
Est. payment /mo
Est.Price: ?

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2,178 Sqft Lot
SOLD DATE : 11/18/2024

Key Details

Sold Price $3,350,000

Property Type Multi-Family

Sub Type Triplex

Listing Status Sold

Purchase Type For Sale

Subdivision Balboa Peninsula (Residential) (Balp)

MLS Listing ID NP24177675

Year Built 1959

Lot Size 2,178 Sqft

Property Description

Situated just one house from the boardwalk and mere blocks from the lively Balboa Village and Fun Zone, this three-story triplex offers prime coastal living and an exceptional investment opportunity. Priced at $1,200 per square foot?well below the average for comparable properties on the Balboa Peninsula?this property presents significant value. With all tenants on month-to-month leases, it?s a great redevelopment opportunity or a chance to collect steady rental income and benefit from future appreciation. Designed and built by renowned architect Svend Nielsen, the property exudes unique charm and thoughtful design. Each of the three units includes 2 bedrooms, 1 bathroom, and in-unit laundry for convenience. The second and third-floor units enjoy peek-a-boo ocean views, while all units offer private outdoor spaces, including balconies. Additional amenities include a two-car carport for the second- and third-floor units, a ground-floor private shower room, and recent upgrades such as a roof replacement in 2023, a Tesla solar system, and smart home features, including automated blinds, thermostats, and a security system?all controllable remotely. The property is professionally managed, generating stable income with the potential for future rent growth. Don?t miss this rare opportunity to invest in a prime coastal location with endless possibilities.

Location

State CA

County Orange

Area Np - Balboa Peninsula

Interior

Heating Fireplace(s), Wall Furnace

Cooling None

Flooring Laminate

Fireplaces Type Living Room

Laundry Inside

Exterior

Parking Features Carport

Pool None

Community Features Storm Drain(s), Street Lights, Sidewalks

Utilities Available Cable Available, Electricity Available, Natural Gas Available, Phone Available, Sewer Connected, Water Connected

Waterfront Description Across the Road from Lake/Ocean

View Y/N Yes

View Coastline, Neighborhood, Ocean, Peek-A-Boo

Building

Lot Description 2-5 Units/Acre

Story 3

Sewer Public Sewer

Water Public

New Construction No

Others

Acceptable Financing Cash, Cash to New Loan

Listing Terms Cash, Cash to New Loan

Special Listing Condition Standard

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California Regional MLS (CRMLS)
Listed by Greg Blake • Coldwell Banker Realty • 949-500-8684
Bought with Jack Huang • First Class Real Estate Inc.

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Paul Ward

+1(805) 479-5004

Broker Associate | License ID: 01354001

Broker Associate License ID: 01354001

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