1140 West balboa Blvd.

1140 West Balboa Boulevard, Newport Beach, CA

$2,495,000

Price

2.2%

Cap Rate

$54,820

NOI

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Street
Map
Overview
Cap Rate
2.2%
NOI
$54,820
Building Size
2,250 sqft
Lot Area
0.07 acres
Year Built
1955
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

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.
Documents
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