1140 West balboa Blvd.
$2,495,000
1140 West Balboa Boulevard, Newport Beach, CA 92662
For Sale
Retail
Street Retail
Active
Last Updated: 01/11/2023
2.2
Cap Rate
54,820
NOI
Details:
Cap Rate: 2.2%
NOI: $54,820
Building Size: 2,250 sqft
Lot Area: 0.07 acres
Year Built: 1955
Highlights:
- Value Add Opportunity to Purchase a Newport Beach Duplex with Month to Month Tenants and Below Market Rent
- Opportunity to Improve and Modernize Each Unit to Drive Additional Rental Income and Improve Lease Ability
- The Subject Property Is Currently Zoned For R-2, Which Allows For Short Term Lodging
- Located Within A Few Miles of Hoag Hospital, Which Is Regionally and Nationally Ranked By U.S. News & World Report
- The Property Is Within Walking Distance to Newport Pier, Marina Park, Newport Elementary School, the Balboa Fun Zone and Numerous Restaurants and Shops
- Affluent Demographics In The Immediate Trade Area Include $247,000 With A 1 Mile Radius And An Estimated Population Of 82,000 Within A 3-Mile Radius.
Description:
Faris Lee Investments is pleased to present the opportunity to acquire a value add duplex in Newport Beach, CA
The property is located within a few miles of Hoag hospital, walking distance to Newport Pier, Marina Park, Newport Elementary School, the Balboa Fun Zone and numerous restaurants and shops in Newport Beach, CA
Documents:
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| Newport_Beach__CA_-_1140_W_Balboa_Blvd_-_OM.pdf |
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Location
Gallery
