Today’s highest ranked multifamily income property on www.MultiFamilyOWL.com is a waterfront Duplex listed For Sale in Newport Beach CA by Coleen Brennan at Berkshire Hathaway Home Services. Please see Coleen’s property description below and contact her directly for more information on this incredible waterfront Duplex Property!
4002 Channel Place Newport Beach, CA 92663
For Sale: $2,499,000
Property Type: Duplex
Coleen Brennan, Berkshire Hathaway Homeservices
- Bedrooms: 3
- Building Size: 2400 SF
- Lot Size: 3600 SF
- Number of Units: 2
- Number of Stories: 2
- Year Built: 1966
- Days on market: 49
- Net Operating Income: $72,420
- Rent Control: No
Newport Island Duplex: prime location with north-western orientation – fabulous channel views from both units of the widest section of inlet surrounding the island – contemporary mid-century architecture with terrific layout for maximum square footage utilization – wonderful lower patio area and upper balcony for outdoor living – fast/easy access on and off the Peninsula – dedicated private dock with space to expand to support both a Duffy and 30 foot power boat – steps to the beach, park and redeveloped shopping centers, restaurants and movie theater – area of increasingly upgraded properties – 3 bedroom, 2 bath upper unit with in-home washer/dryer – 2 bedroom, 2 bath lower unit – 2 car split garage for individual units. Buyer to co-operate in a 1031 exchange with no additional cost to buyer. Long term tenants in place – Upper until Sept of 2016, lower until Aug of 2015.
Newport Beach Commercial Apartments For Sale, Duplexes and Multifamily Homes
Newport Beach is located in the Orange County and is a great place to buy or sell multifamily, duplex, triplex, fourplex and larger commercial apartment properties. Its job industry, conveniences, and attractions make this a great place to live and there is a good market available to buy multifamily rental properties such as duplexes, triplexes, and fourplexes. These properties can bring in great income and can be sold quickly if you need to move your investments around. There is also no rent control in Newport Beach.
Newport Beach’s population was 87,068 as of 2012. The estimated median household income in 2011 was $96,918 (it was $83,455 in 2000). This is larger than the California median which was $57,287 in 2011.
Newport Beach has large professional, scientific, and technical industries which comprise 16% of all industries in the city, which is more than twice that of the California average. Newport Beach is home to one Fortune 500 company, insurer Pacific Life. Other companies based in Newport Beach include Acacia Research, Conexant, Galardi Group, Jazz Semiconductor, and PIMCO.
The city also enjoys being close to a variety of conveniences. The nearest major airport is John Wayne Airport. This airport has international and domestic flights from Santa Ana and is 6 miles from the center of Newport Beach. The Hoag Memorial Hospital Presbyterian is located in Newport Beach and is also the biggest employer of the city with almost 4000 employees. There are a number of universities and colleges nearby, the largest of which is the University of California Irvine, with 26,169 full time enrolled students (4 miles).
Newport Beach has many attractions, the most popular of which are its beaches, including a famous surf spot called The Wedge. Other notable spots include Balboa Island, Pelican Hill Golf Club, Lido Theatre, Orange County Museum of Art, and Fashion Island, which is an upscale open-air lifestyle center with many retail shops and restaurants.
All of these features make Newport Beach a great city to buy or sell multifamily investment rental properties such as duplexes, triplexes, fourplexes and larger commercial apartment buildings. This vibrant, growing community has great attractions, a healthy work industry, and above average rent. The density of the city and the desire for people to live here, make it an ideal location for multifamily living and the city does have great duplex, triplex, and fourplex properties.
Also serving other Los Angeles County Cities.
This information was gathered from www.newportbeachca.gov, city-data.com, and wikipedia.
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