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Key Details
Sold Price $8,500,000
Property Type Multi-Family
Sub Type Quadruplex
Listing Status Sold
Purchase Type For Sale
Subdivision Balboa Peninsula (Residential) (Balp)
MLS Listing ID NP24109926
Year Built 1909
Lot Size 3,598 Sqft
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.
Location
State CA
County Orange
Area Np - Balboa Peninsula
Interior
Heating Space Heater
Cooling Wall/Window Unit(s)
Fireplaces Type None
Laundry Common Area, Inside, Laundry Room
Exterior
Parking Features Driveway
Pool None
Community Features Biking, Park, Street Lights, Sidewalks
Waterfront Description Beach Access,Beach Front,Ocean Access,Ocean Front
View Y/N Yes
View Catalina, Coastline, Ocean, Panoramic
Building
Lot Description Street Level
Story 2
Sewer Public Sewer
Water Public
New Construction No
Others
Acceptable Financing Cash, Cash to New Loan, Conventional
Listing Terms Cash, Cash to New Loan, Conventional
Special Listing Condition Standard
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Bought with George Hanold • Times Real Estate CA