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Multifamily

1212 W Balboa Blvd

1212 W Balboa Blvd, Newport Beach, CA 92661

Listing Price: $2,800,000

Cap Rate
1.83%
Number of Units
3
Price/Unit
$933,333
Price/Gross SF
$1,160.86
Gross SF
2,412

Investment Overview

Marcus & Millichap, as the exclusive listing agent, is pleased to present the opportunity to acquire 1212 West Balboa Boulevard, a 3-unit multifamily investment property located on the affluent and highly desirable Balboa Peninsula, one of the premier coastal housing markets in Southern California. Built in 1948 and 1961, 1212 West Balboa Boulevard offers an excellent mix of 1, one-bedroom unit and 2, two-bedroom units. The property features community amenities including 2 single-car garages, 1 surface parking space, and on-site laundry as well as unit amenities including recessed lighting and ceiling fans. All three units were last renovated between 2009 and 2013 and through a unit modernization plan a new owner could achieve substantial rental upside. 1212 West Balboa Boulevard is situated in Newport Beach, just steps from world famous beaches, Newport Elementary School, and the Marina Park Community Center. The property is also located just a short drive from the numerous boutiques, high-end restaurants, and popular entertainment destinations spread across the peninsula. The Newport Beach submarket continued to thrive in 2021, with a vacancy rate of just 0.9% and year-over-year rent growth of 15.4%. Additionally, the average household income in the city of Newport Beach is 58% higher than the Orange County average. 1212 West Balboa Boulevard offers an investor the ability to acquire a stabilized coastal asset in an irreplaceable location with upside potential. Additionally, 1212 West Balboa Boulevard offers an investor the ability to capture tenants seeking an excellent coastal location with convenient access to a wide variety of retail amenities, dining experiences, and entertainment destinations.

Investment Highlights

  • Attractive Mix of Spacious One & Two-Bedroom Units
  • 2 Single-Car Garages & 1 Surface Parking Space
  • Private Sundeck | On-Site Laundry | Recessed Lighting & Ceiling Fans
  • Within Walking Distance of Newport Elementary School
  • Steps from the Beaches of Newport & Newport Bay

Exclusively Listed By

Financing By

Multifamily

1212 W Balboa Blvd

Listing Price: $2,800,000

Cap Rate
1.83%
Number of Units
3
Price/Unit
$933,333
Price/Gross SF
$1,160.86
Gross SF
2,412

Investment Highlights

  • Attractive Mix of Spacious One & Two-Bedroom Units
  • 2 Single-Car Garages & 1 Surface Parking Space
  • Private Sundeck | On-Site Laundry | Recessed Lighting & Ceiling Fans
  • Within Walking Distance of Newport Elementary School
  • Steps from the Beaches of Newport & Newport Bay

Investment Overview

Marcus & Millichap, as the exclusive listing agent, is pleased to present the opportunity to acquire 1212 West Balboa Boulevard, a 3-unit multifamily investment property located on the affluent and highly desirable Balboa Peninsula, one of the premier coastal housing markets in Southern California. Built in 1948 and 1961, 1212 West Balboa Boulevard offers an excellent mix of 1, one-bedroom unit and 2, two-bedroom units. The property features community amenities including 2 single-car garages, 1 surface parking space, and on-site laundry as well as unit amenities including recessed lighting and ceiling fans. All three units were last renovated between 2009 and 2013 and through a unit modernization plan a new owner could achieve substantial rental upside. 1212 West Balboa Boulevard is situated in Newport Beach, just steps from world famous beaches, Newport Elementary School, and the Marina Park Community Center. The property is also located just a short drive from the numerous boutiques, high-end restaurants, and popular entertainment destinations spread across the peninsula. The Newport Beach submarket continued to thrive in 2021, with a vacancy rate of just 0.9% and year-over-year rent growth of 15.4%. Additionally, the average household income in the city of Newport Beach is 58% higher than the Orange County average. 1212 West Balboa Boulevard offers an investor the ability to acquire a stabilized coastal asset in an irreplaceable location with upside potential. Additionally, 1212 West Balboa Boulevard offers an investor the ability to capture tenants seeking an excellent coastal location with convenient access to a wide variety of retail amenities, dining experiences, and entertainment destinations.

Exclusively Listed By

Financing By

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