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1701 W Balboa Boulevard, Newport Beach, CA 92663

Property Details

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1701 W Balboa Boulevard
Newport Beach, CA 92663

Unavailable: $5,699,000

Property Type: Commercial Apartments
MLS#: OC17224478

  • Building Size: 7552 SF
  • Lot Size: 5227 SF
  • Number of Units: 10
  • Number of Stories: 2
  • Year Built: 1948
  • Days on market: 264
  • Cap Rate: 2.50
  • Net Operating Income: $148,783
  • Rent Control: No
  • Contact Listing Agent Direct:
  • Tony Morrison, Lantern Bay Realty


Property Description

RARE, DOUBLE LOT with 10 units and only 25 yards away from the sand on Balboa Peninsula. Unit mix consists of the following: one 4 bed 2 bath (has ocean views), one 2 bed 1 baths, three 1 bed 1 baths, 5 studios, and there are 10 separate garages. Professional Property Management company is handling the property with total rents are now approximately $23,000 per month, this could be enhanced if new owner decides to turn property into weekly vacation rentals. All units are upgraded and updated with new kitchens and all have original wood floors that have been refinished along with newer carpet. Owner states the city of Newport Beach is open to having 7-10 condos built on the land itself thus giving an amazing opportunity for Investors, please check with City of Newport Beach. PLEASE DO NOT DISTURB ANY TENANTS, DRIVE BY ONLY, SHOWN WITH ACCEPTED OFFER.


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1701 W Balboa Boulevard, Newport Beach, CA 92663

Based on information from California Regional Multiple Listing Service, Inc. as of April 4, 2018. 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.

Listing provided by: Tony Morrison, Lantern Bay Realty

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