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1701-1703 W Balboa Blvd
Newport Beach, CA 92663
Multifamily Property For Sale
·
10 Units
Investment Highlights
- Trophy asset located on a triple lot (±7,688 SF) on the corner of Balboa Boulevard and 17th Street.
- Currently, 1701 W. Balboa Blvd. is the only property (5+ units) available for sale in the entire city.
- New owner has the opportunity to increase rents to market and implement a RUBS program to recapture tenant's portion of utility costs.
- Great interior & exterior condition with recent capital improvements completed.
- Comprised of a mix of (5) studio units, (3) one-bedroom units, (1) two-bedroom unit, and (1) four-bedroom unit.
- Amenities include bay & ocean views in select units, community sun deck, on-site laundry facility (owned) & (9) single-car garage spaces
Property Facts
| No. Units | 10 | Lot Size | 0.18 AC |
| Property Type | Multifamily | Building Size | 7,553 SF |
| Property Subtype | Apartment | No. Stories | 2 |
| Apartment Style | Low-Rise | Year Built | 1948 |
| Building Class | C | Parking Ratio | 1.19/1,000 SF |
| Zoning | R3 - Multiple Family Residential | ||
| No. Units | 10 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.18 AC |
| Building Size | 7,553 SF |
| No. Stories | 2 |
| Year Built | 1948 |
| Parking Ratio | 1.19/1,000 SF |
| Zoning | R3 - Multiple Family Residential |
Amenities
Unit Amenities
- Heating
- Refrigerator
- Oven
- Range
- Tub/Shower
Site Amenities
- 24 Hour Access
- Controlled Access
- Tenant Controlled HVAC
- Trash Pickup - Curbside
- Public Transportation
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 5 | $2,200 | 500 |
| 1+1 | 3 | $2,250 | 850 |
| 2+1 | 1 | $3,100 | 1,000 |
| 4+2 | 1 | $5,500 | 1,500 |
Property Taxes
| Parcel Number | 047-201-09 | Improvements Assessment | $256,230 |
| Land Assessment | $3,138,887 | Total Assessment | $3,395,117 |
Property Taxes
Parcel Number
047-201-09
Land Assessment
$3,138,887
Improvements Assessment
$256,230
Total Assessment
$3,395,117
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