Water Views
Address
701 E Balboa Boulevard Newport Beach, CA
Price
$ 2,199,000
Property Attributes
  • MLS#OC20159091
  • TypeCommercial
  • CountyORANGE
  • CityNewport Beach
  • AreaBalboa Peninsula
  • Zip92661
  • StyleMixed Use
  • Price$ 2,199,000
  • Bedrooms0
  • Full Bathrooms0
  • Half Bathrooms0
  • Sqr Footage2600
Listing Provided Courtesy Of:
Brett Barber with Legend Realty & Finance Group.
Property Description

Incredible investment opportunity for an owner/user in the world famous city of Newport Beach, California!! Being 100 yards from the beach and Balboa pier and next to the Balboa fun zone in a newly gentrified area it's the best deal on the Peninsula! This mixed use 2,400 sq ft. building is fully leased with options for long term leases and consists of a 2 bedroom 900 sq ft remodeled upstairs ocean view apartment with garage . It also has a 500 sq foot studio newly remodeled with full bath and garage access leased out for $2,000/mo. The retail component is a newly remodeled 450 sq ft nail salon leased for $2750 , A 250 sqft retail unit currently leased for $750 mo. and another 200sq ft unit for $600 per month totaling $6,000 per month current rent and $15,000 per forma still being received in July with new 1-5 year leases. The property is located at 701 E. Balboa Avenue which is surrounded by the Balboa Fun Zone, Balboa Pier, Balboa Pavilion, Catalina Flyer, Pacific Ocean and Newport Harbor all within a few hundred yards. This is an extremely rare opportunity in one of the best retail locations in Southern California!Incredible investment opportunity for an owner/user in the area. Buyer to be cross qualified by Melony Barber at back bay funding.

Price History
8/7/2020 Listed $2,399,000
9/4/2020 9% - $2,199,000

General Features

Building Features Living Quarters
Business Type Multi-Tenant
Construction Materials Brick, Concrete, Drywall Walls, Ducts Professionally Air-Sealed, Glass
Current Financing None
Directions Near the Balboa Pier and Balboa Fun Zone
Heating Wall Furnace, Space Heater
Listagentaor Orange County
Listing Agent Brett Barber - BRE#02000761
Listing Agent State License 02000761
MLS Area NP - Balboa Peninsula
Price Per Square Foot 845.77
Property SubType Mixed Use
Property Type Commercial Sale
Roof Common Roof
Security Features Carbon Monoxide Detector(s), Closed Circuit Camera(s), Fire and Smoke Detection System, Fire Sprinkler System
Source System CRMLS
Special Listing Conditions Standard
Utilities Cable Connected, Electricity Connected, Natural Gas Connected, Phone Connected, Sewer Connected
Waterfront Features Across the Road from Lake/Ocean, Beach Access, Beach Front, Marina in Community, Ocean Access, Ocean Side of Freeway, Ocean Side Of Highway 1
Zoning Mixed Use

Interior Features

Air Conditioning Y/N Yes
Condo Area Unit Type Square Feet
Heating Y/N Yes
Laundry Features Common Area, Community, Gas & Electric Dryer Hookup, In Garage
Total Stories 2

Exterior Features

Building Area Total 2600.00
Fence Y/N Yes
Land Use Multi-Family, Office, Retail
Lot Size Source Assessor
Number of Buildings 2
Total Parking 1.00
Uncovered Spaces 1.00
Water Source Public

Amenities

  • Foreclosure
  • Views
  • Short Sale
  • New Construction
  • Adult 55+
  • Lease To Own
  • No HOA Fees
  • Furnished
  • Master On Main
  • Air Conditioning
  • Seller Finance
  • Green
  • Fixer Upper
  • Horse
  • Golf
  • Fireplace
  • Deck
  • Garage
  • Basement
  • Pool

Property vs Zip Code Average in 92661

Price
AVG $6.95M
$2.2M
Visits
AVG 75
79
Year Built
AVG 1961
1907

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