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121 25th Street

Newport Beach, CA 92663
  • $2,788,000
  • STATUS: Active
  • ON SITE: 8 Days
  • ID#: NP22202831
Open House
UPDATED: 22 min ago
$2,788,000
  • 0
    BEDS
  • 0.04
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Type:
Multi-Family
Built:
1956
County:

School Ratings & Info

Listing Agent(s): Joshua Coburn of Chamberlain Real Estate (562-547-3505)


Description

A rare opportunity to step into a turn-key fully furnished duplex on the Newport Peninsula! Located just a couple streets north of the Newport Pier, both units have undergone a floor up Beach Cottage remodel. The lower unit is a 2 Bed / 1 full bath with quaint living room, full galley kitchen and additional room to be used as a large walk in closet. The Upper unit is 1 bedroom with a 1.75 bath and sits back over the garage, so there is no shared walls or ceiling/floor. The property includes an attached garage with ample storage. Garage parking is currently setup to be shared 1 for each unit. Laundry is located in the garage. The property just completed final approvals over the middle of summer and has a list of interested renters ready to enjoy extended vacation rentals (over 30 days) or long term access to the beach. List of renovations and updates will be made available to qualified interested parties. All analysis and rents in this listing are projected at Market Rent and confirmed by property manager. Property will be delivered vacant. Buyer to verify all information included.

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Based on information from California Regional Multiple Listing Service, Inc. as of 2022-09-25T00:27:48.383. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Better Living SoCal. Licensed in the State of California, USA.
www.betterlivingsocalhomes.com/homes/133163994
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121 25th Street Newport Beach, CA 92663

  • Price: $2,788,000
  • Status: Active
  • On Site: 8 Days
  • Updated: 22 min ago
  • ID#: NP22202831
0
Beds
0
Baths
0
½ Baths
0.04
Acres
1956
Built
Neighborhood:
Balboa Peninsula (Residential) (Balp)
County:
Orange
Area:
NP - Balboa Peninsula
Property Description
A rare opportunity to step into a turn-key fully furnished duplex on the Newport Peninsula! Located just a couple streets north of the Newport Pier, both units have undergone a floor up Beach Cottage remodel. The lower unit is a 2 Bed / 1 full bath with quaint living room, full galley kitchen and additional room to be used as a large walk in closet. The Upper unit is 1 bedroom with a 1.75 bath and sits back over the garage, so there is no shared walls or ceiling/floor. The property includes an attached garage with ample storage. Garage parking is currently setup to be shared 1 for each unit. Laundry is located in the garage. The property just completed final approvals over the middle of summer and has a list of interested renters ready to enjoy extended vacation rentals (over 30 days) or long term access to the beach. List of renovations and updates will be made available to qualified interested parties. All analysis and rents in this listing are projected at Market Rent and confirmed by property manager. Property will be delivered vacant. Buyer to verify all information included.
Exterior Features

Architectural Style Cottage Lot Features 2-5 Units/Acre Number Of Separate Electric Meters 2 Parking Features AssignedDirect AccessGarage Parking Total 2 Pool Features None Pool Private YN No Property Attached YN No Road Frontage Type City Street Road Surface Type Paved View OceanPeek-A-Boo View YN Yes

Interior Features

Accessibility Features Parking Appliances BarbecueDishwasherFreezerGas OvenMicrowaveWater Heater Common Walls No Common Walls Fireplace Features None Fireplace YN No Flooring Vinyl Interior Features Furnished

Property Features

Additional Parcels YN No Cap Rate 3.33 Common Interest None Community Features BikingSidewalks Electric Expense 0 Fuel Expense 0 Garage YN Yes Gross Income 102000 Gross Scheduled Income 102000 Insurance Expense 0 Land Lease YN No Laundry Features Common AreaIn Garage Levels Two Listing Agreement Exclusive Right To Sell Listing Service Full Service Listing Terms CashCash To New Loan1031 Exchange Net Operating Income 92820 New Construction YN No Number Of Separate Gas Meters 2 Number Of Separate Water Meters 2 Number Of Units Leased 0 Operating Expense 9810 Possession Close Of Escrow Property Condition Updated/Remodeled Rent Control YN No Security Features Smoke Detector(S) Senior Community YN No Sewer Public Sewer Special Listing Conditions Standard Tenant Pays All Utilities Total Actual Rent 0 Trash Expense 0 Vacancy Allowance Rate 0 Water Sewer Expense 0 Water Source Public



Based on information from California Regional Multiple Listing Service, Inc. as of 2022-09-25T00:27:48.383. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Better Living SoCal. Licensed in the State of California, USA.
 
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250 El Camino Real #104
Tustin CA, 92780
Listing Agent(s): Joshua Coburn of Chamberlain Real Estate (562-547-3505)