301 East Balboa Boulevard new Save Request In-Person Tour Request Virtual Tour
Newport Beach,CA 92661
Key Details
Property Type Single Family Home
Listing Status Active
Purchase Type For Sale
Square Footage 1,638 sqft
Price per Sqft $1,828
Subdivision Balboa Peninsula (Residential)
MLS Listing ID OC-23202618
Year Built 1921
Lot Size 2,614 Sqft
Property Description
The Cottage at Balboa Peninsula is a quaint investment opportunity at the corner of Coronado Street and East Balboa Boulevard. It has a long and storied history which includes operating as a family compound, vacation rentals and, in its current configuration, as a 4 unit multifamily rental. The front unit which is on the corner of Balboa Boulevard and Coronado Street is two- bedrooms with one bath and a kitchen and small dining area. Two of the units (Units 1 and 2) are one bedrooms with one bath. One unit is a studio unit. Both the ones and the studio unit have kitchenettes. What makes this property particularly valuable is its corner location on Balboa Boulevard which takes it away from the Balboa Peninsula boardwalk while still providing ocean views and only being a few feet from the sand combined with the opportunity for an investor to redevelop the site. The City of Newport Beach will allow for the property to be redeveloped in a two-story, 2 unit plus one ADU configuration. Two parking spaces would be required. Even though 301 E. Balboa does not have beach frontage, because of its frontage on Coronado Street, each unit of a new development can be configured to have unobstructed ocean views. The property can then be operated as a rental property, a personal multi- unit residence or, if given City approval, vacation rentals. *** PLEASE NOTE THAT ALL INCOME AND EXPENSE INFORMATION SHOWN ON MLS FOR THIS PROPERTY IS PRO FORMA ***
Location
State CA
County Orange
Interior
Interior Features Ceramic Counters,Ceiling Fan(s),Formica Counters,Unfurnished
Heating Wall Furnace
Cooling None
Flooring Vinyl
Fireplaces Type None
Inclusions None
Laundry Common Area
Exterior
Garage None
Pool None
Community Features Biking,Fishing,Sidewalks,Street Lights,Suburban,Watersports
Utilities Available Sewer Connected,Water Connected,Cable Connected,Electricity Available,Electricity Connected,Natural Gas Connected,Phone Available
View Y/N Yes
View Ocean
Building
Lot Description Corner Lot,Level with Street
Sewer Public Sewer