$4,100,000
$4,100,000
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3,049 Sqft Lot
SOLD DATE : 09/17/2021
Key Details
Sold Price $4,100,000
Property Type Multi-Family
Sub Type Quadruplex
Listing Status Sold
Purchase Type For Sale
Subdivision Balboa Peninsula (Residential) (Balp)
MLS Listing ID NP21205982
Sold Date 09/17/21
HOA Y/N No
Year Built 1961
Lot Size 3,049 Sqft
Property Description
Situated directly in front of Blackies surf break with views of the Newport Pier, crashing waves, and Catalina Island, this oceanfront quadruplex with garage parking for 4-cars presents a rare investment opportunity for stable, long-term income as well as short-term lodging income. Thoughtfully designed, the beautiful upper units, (1) 2BR/2BA and (1) 1BR/1BA, can be combined for a 3BR/2BA unit to accommodate larger groups and earn premium rates. Fit with quality stainless steel appliances, a marble fireplace, cherry-wood cabinets, teak flooring and voluminous ceilings, the ocean-facing upper unit is an attractive residence for a homeowner or luxury vacationers alike. A spacious sundeck with built-in barbecue and bar-top offers the coveted indoor-outdoor lifestyle and a private retreat to watch passerby, sunsets, and surfers challenging the waves. Each upper unit comes with in-unit laundry and has been recently refurnished (2020), painted, and permitted for short-term lodging, while the (2) 1BR/1BA lower units share laundry in the garage and showcase new vinyl flooring. Additional highlights include one new garage door and track as well as a gated courtyard entry. Given its highly desirable location and luxe accommodations at the center of Newport’s cultural attractions, the income potential for this performing asset reveal a sound investment.
Location
State CA
County Orange
Area Np - Balboa Peninsula
Interior
Interior Features Balcony, High Ceilings, Bedroom on Main Level
Cooling Wall/Window Unit(s)
Flooring Carpet, Tile, Vinyl, Wood
Fireplaces Type Living Room
Fireplace Yes
Appliance Dishwasher, Freezer, Gas Cooktop, Gas Range, Microwave, Refrigerator, Range Hood
Laundry Inside, Laundry Closet, In Garage, Stacked
Exterior
Exterior Feature Barbecue
Parking Features Garage
Garage Spaces 4.0
Garage Description 4.0
Pool None
Community Features Curbs, Fishing, Street Lights, Sidewalks
Utilities Available Cable Connected, Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected
Waterfront Description Across the Road from Lake/Ocean
View Y/N Yes
View Catalina, Coastline, Ocean, Water
Total Parking Spaces 4
Private Pool No
Building
Lot Description Landscaped
Story 2
Entry Level Two
Sewer Public Sewer
Water Public
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 04714324
Energy Description 350.0
Acceptable Financing Cash, Cash to New Loan
Listing Terms Cash, Cash to New Loan
Financing Cash to New Loan
Special Listing Condition Standard
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Bought with Tim Smith • Coldwell Banker Realty
"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "