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1140 W Balboa Blvd
Newport Beach, CA 92661
Balboa Peninsula Duplex / Below Market Rents · Multifamily Property For Sale
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2 Units
Investment Highlights
- Value Add Opportunity to Purchase a Newport Beach Duplex with Month to Month Tenants and Below Market Rent
- The Subject Property Is Currently Zoned For R-2, Which Allows For Short Term Lodging
- The Property Is Within Walking Distance to Newport Pier, Marina Park, Newport Elementary School, the Balboa Fun Zone and Numerous Restaurants and Shop
- Opportunity to Improve and Modernize Each Unit to Drive Additional Rental Income and Improve Lease Ability
- Located Within A Few Miles of Hoag Hospital, Which Is Regionally and Nationally Ranked By U.S. News & World Report
- Affluent Demographics In The Immediate Trade Area Include $247,000 With A 1 Mile Radius And An Estimated Population Of 82,000 Within A 3-Mile Radius.
Property Facts
| No. Units | 2 | Lot Size | 0.07 AC |
| Property Type | Multifamily | Building Size | 2,250 SF |
| Property Subtype | Apartment | No. Stories | 2 |
| Apartment Style | Low-Rise | Year Built | 1955 |
| Building Class | C | ||
| Zoning | R-2 | ||
| No. Units | 2 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.07 AC |
| Building Size | 2,250 SF |
| No. Stories | 2 |
| Year Built | 1955 |
| Zoning | R-2 |
Property Taxes
| Parcel Number | 047-263-22 | Improvements Assessment | $110,242 |
| Land Assessment | $1,985,618 | Total Assessment | $2,095,860 |
Property Taxes
Parcel Number
047-263-22
Land Assessment
$1,985,618
Improvements Assessment
$110,242
Total Assessment
$2,095,860
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