1007 Balboa Boulevard, Newport Beach, CA 92661

$9,500,000
List Price
$9,500,000
Price Change
▼ $1,500,000 1720847917
MLS#
NP24109926
Status
ACTIVE
Type
Multifamily

Property Description

A remarkable opportunity to own 10 Units on the Oceanfront of the Balboa Peninsula with 7 Irreplaceable STR's (SHORT TERM RENTAL PERMITS)! This is a dream deal w/ a monster cap rate and a whopping $640,000 NET income in 2023! Located almost perfectly right next to Balboa Pier, Balboa Fun Zone, Balboa Ferry, Market & Deli, Shopping, Restaurants, Arcades, and More. Each unit is remodeled and ready to be rented immediately. 4 of the Units are directly facing the oceanfront with spectacular panoramic views, including the Pier. Priced to sell and motivated deal. APN 048-146-04 (additional 1,519 sqft parcel on sand/beach) also included.

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Courtesy of Times Real Estate CA, George Hanold.