1701-1703 W Balboa Blvd - Apartments FOR SALE


Newport Beach, CA 92663
$6,490,000 USD
951-756-0448
1701-1703 W Balboa Blvd, Newport Beach, CA for Sale
$6,490,000 USD
Apartments - FOR SALE
1/10
null | 2.93% Cap Rate

1701-1703 W Balboa Blvd
Newport Beach, CA 92663


HIGHLIGHTS

  • Currently, the Only Multifamily Property (5+ Units) Available in Newport Beach
  • Located on a Triple Lot (±7,688 SF) on the Corner of Balboa Blvd. & 17th St.
  • Studio, One-, Two- & Four-Bedroom Floorplans, Bay & Ocean Views in Select Units
  • Upside Potential - Potential to Convert Garages to ADUs
  • Recent Capital Improvements
  • Community Amenities Include Community Sun Deck, On-Site Laundry Facility (Owned) & (9) Single-Car Garage Spaces

OVERVIEW

Located on a triple lot (7,688 SF) on the corner of Balboa Blvd & 17th Street on the Newport Beach Peninsula, 1701-1703 W. Balboa Blvd. is a 10-unit multifamily opportunity. The property offers bay & ocean views in select units, a community sun deck, on-site laundry facility and a unit mix of studio-, one-, two- and four-bedroom floorplans. The property has had recent improvements including new exterior paint, new garage doors, new windows (select units) and main panel replaced.

FOR SALE DETAILS

PRICE

$6,490,000 USD

PRICE/SF

$859 USD /SF

# OF UNITS

10

PRICE/UNIT

$649,000

CAP RATE

2.93%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1948

PARKING SPACES

9

LAND DETAILS

LAND ACRES

0.18 AC

LAND SF

7,688 SF

ZONING

Multifamily

APN/PARCEL ID

047-201-09

ASK ABOUT THIS PROPERTY

951-756-0448

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951-756-0448

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