Skip To Content
    Return to Previous Page

    701 E Balboa Boulevard

    Newport Beach, CA 92661
    • $2,199,000
    • STATUS: Active
    • ON SITE: 48 days
    • ID#: OC20159091
    UPDATED: 79 min ago
    $2,199,000
    • 0
      BEDS
    • 0.06
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 2,600
      SQFT
    • $846
      $/SQFT
    Neighborhood:
    Type:
    Commercial
    Built:
    1907
    County:

    School Ratings & Info

    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 receiving $2,800/mo . 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 $1000 /mo. and another 200sq ft unit for $600 per month totaling $9,150 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.

    Monthly Payment Calculator



    Based on information from California Regional Multiple Listing Service, Inc. as of 2020-09-25T12:28:57.21. 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 deemed reliable but is not guaranteed accurate by the MLS or Steele Canyon Realty. Licensed in the State of California, USA.

    www.steelecanyonrealty.com/homes/108649389
    Print Image

    701 E Balboa Boulevard Newport Beach, CA 92661

    • Price: $2,199,000
    • Status: Active
    • Updated: 79 min ago
    • ID#: OC20159091
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.06
    Acres
    2,600
    SQFT
    $846
    $/SQFT
    1907
    Built
    Neighborhood:
    NP - Balboa Peninsula
    County:
    Orange
    Area:
    NP - Balboa Peninsula
    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 receiving $2,800/mo . 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 $1000 /mo. and another 200sq ft unit for $600 per month totaling $9,150 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.
    Exterior Features

    Construction Materials BrickConcreteDrywall WallsDucts Professionally Air-SealedGlass Fence YN Yes Fencing Good Condition Lot Features 2-5 Units/Acre Lot Size Dimensions 2614 Lot Size Source Assessor Lot Size Units Square Feet Parking Total 1.00 Roof Common Roof Uncovered Spaces 1.00 Waterfront Features Across The Road From Lake/OceanBeach AccessBeach FrontMarina in CommunityOcean AccessOcean Side Of FreewayOcean Side Of Highway 1

    Interior Features

    Building Features Living Quarters Condo Area Units Square Feet Cooling Wall/Window Unit(S)Whole House Fan Cooling YN Yes Heating Wall FurnaceSpace Heater Heating YN Yes Laundry Features Common AreaCommunityGas & Electric Dryer HookupIn Garage

    Property Features

    Additional Parcels YN No Asset Class Multi-FamilyRetail Building Area Units Square Feet Building Status Existing Business Type Multi-Tenant Country Us Current Financing None Current Use Comments 2 Retail Units Electric 220 Volts in Garage220 Volts in Laundry Investment Property YN Yes Land Lease YN No Land Use Multi-FamilyOfficeRetail Laundry Equipment Own Lease Own Laundry YN Yes Leasable Area Units Square Feet Lease Considered YN No Lot Dimensions Source Assessor Max Total Area Units Square Feet Min Total Area Units Square Feet Occupancy Occupied Property Sub Type Mixed Use Residential Square Footage 1500 Retail Center Type Mixed Use Retail Square Footage 1100 Security Features Carbon Monoxide Detector(S)Closed Circuit Camera(S)Fire And Smoke Detection SystemFire Sprinkler System Special Listing Conditions Standard Utilities Cable ConnectedElectricity ConnectedNatural Gas ConnectedPhone ConnectedSewer Connected Water Source Public Year Built Source Assessor Zoning Mixed Use

    Listing provided courtesy of Brett Barber of Legend Realty & Finance Group


    Based on information from California Regional Multiple Listing Service, Inc. as of 2020-09-25T12:28:57.21. 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 deemed reliable but is not guaranteed accurate by the MLS or Steele Canyon Realty. Licensed in the State of California, USA.

     
    https://bt-photos.global.ssl.fastly.net/socal/orig_boomver_2_364638920-1.jpg https://bt-photos.global.ssl.fastly.net/socal/orig_boomver_2_364638920-1.jpg https://bt-photos.global.ssl.fastly.net/socal/orig_boomver_2_364638920-1.jpg
    Logo
    Steele Canyon Realty
    5923 Severin Drive
    La Mesa CA, 91942