$1,775,000
For more information regarding the value of a property, please contact us for a free consultation.
205 42nd ST Newport Beach, CA 92663
2,613 Sqft Lot
Key Details
Property Type Multi-Family
Listing Status Sold
Purchase Type For Sale
Subdivision Balboa Peninsula (Residential) (Balp)
MLS Listing ID OC20169375
Year Built 1947
Lot Size 2,613 Sqft
Property Description
This Newport Beach Peninsula Property and 'A' Location Duplex is located in the high demand rental area of Newport Beach. The asset consists of 100% two bedroom units located on a corner lot, across from the street from the ocean. The front unit on the main floor is nearly 900 sq ft and includes a spacious, private front patio area that’s ideal for entertaining. The top unit features a private balcony, provides some ocean views and sprawls out at nearly 700 sq ft. The property has 1 two-car garage, where there are washer and dryer hookups for the tenants and the property is separately metered for gas and electric. Largely in part of the tenant profile, the property has been very well maintained and consequently shows very well. One Unit was built in 1947, and the other unit was added in 2002.
This property is in an excellent central Newport Beach location. 42nd St is located in the ideal location on the Newport Beach Peninsula. Since the property is located on the other side of Balboa Boulevard, tenants can easily enjoy the proximity of the beach without any of the commotion. Given the strength of the overall apartment market within the city of Newport Beach, the property offers an investor the ability to capture quality tenants seeking a great neighborhood with convenient access to a wide variety of activities, transportation and retail amenities.
Rents are below market.
Location
State CA
County Orange
Area Np - Balboa Peninsula
Interior
Heating Natural Gas
Exterior
Garage Garage
Garage Spaces 2.0
Garage Description 2.0
Fence Brick
Pool None
Community Features Biking, Curbs, Gutter(s), Park, Storm Drain(s), Street Lights, Sidewalks
Utilities Available Cable Connected, Electricity Connected, Natural Gas Connected, Phone Connected, Sewer Connected, Water Connected
View Y/N Yes
View Ocean
Building
Lot Description 2-5 Units/Acre
Story 2
Sewer Public Sewer
Water Public
New Construction No
Others
Acceptable Financing Cash to New Loan, Owner May Carry
Listing Terms Cash to New Loan, Owner May Carry
Special Listing Condition Standard
Read Less
Want to know what your home might be worth? Contact us for a FREE valuation!
Our team is ready to help you sell your home for the highest possible price ASAP
Bought with Mark Bridge • Mark Bridge, Broker