215 32nd St., Newport Beach, CA 92663 - NP23061062 - iPro Real Estate

215 32nd St.
Newport Beach, CA 92663

Active, Multi-Family/Income Sale

Price Decrease
For Sale

$5,499,000 $2,338.01 per sqft

Free Professional CMA

Listing ID : NP23061062

  • Garage

    2
  • Lot Size

    2,352 Sqft
  • Year

    2020

Description

TWO SHORT TERM LODGING PERMITS - 2023 Generated approximately $260k in revenue. 2024 is projected to be closer to $300k This property was designed and built specifically as a short-term rental property maximizing on room count and rentability. Recently constructed Eight (8) full siize bedrooms, 5 full baths and 2 half bath Newport Beach Balboa Peninsula Duplex Home- complete with TWO (2) SHORT TERM LODGING (RENTAL) PERMITS. This is an investors' dream as the property has been recently completed and fully operational with proven substantial rental income. The front and back units consist of a 5-bedroom 3.5 bath rear unit with all new kitchen, new appliances and sitting room with a huge oversized indoor/outdoor great room. The upstairs primary bedroom has a large walk-in closet and large private deck with ocean breezes and city light views. The front unit consists of 3 bedrooms and 2.5 baths with a great front porch. The entire property was upgraded with independent air conditioning and independent heating zones for every room. Amazing parking for four cars; a full size, side-by-side two car garage and an additional two car covered car port. This is an incredible location surrounded by Lido Village, the Newport Beach Bayfront, and is just a stroll across the street to the most b

Details

Type: Multi-Family/Income Sale 
Subdivision: N8 - West Newport - Lido 
County: Orange 
Tax ID: 42335317
Cap Rate: 5.70% 
Gross Rent Multiplier: 11.75 
Days on Market: 370 
Access Features: Parking 
AltCal ID: CRNP23061062 
Amenities: Balcony/Patio, Counter - Stone, Furnished - Full, Other 
Energy Saving: Ceiling Fan(s), Tankless Water Heater 
Kitchen: Dishwasher, Garbage Disposal, Hood Over Range, Microwave, Other, Exhaust Fan, Oven Range - Gas, Oven Range - Built-In, Refrigerator 
Laundry: Gas Hookup, Other, 38 
Number of Buildings: 1 
Number of Units: 2 
Parking Spaces: 4 
Property Type: Commercial Sale 
Style: Contemporary 
Sub Type: Duplex 
View: City Lights 
Water: District - Public 

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33.61528 -117.932243 $5,499,000 NP23061062
215 32nd St., Newport Beach, CA 92663
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Listed by Chris Moreno with Surterre Properties Inc.

Based on information from the MLSListings MLS) as of 4/15/2024. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.

The data relating to real estate for sale on this display comes in part from the Internet Data Exchange program of the MLSListingsTM MLS system. Real estate listings held by brokerage firms other than iPro Real Estate are marked with the Internet Data Exchange icon (a stylized house inside a circle) and detailed information about them includes the names of the listing brokers and listing agents. Based on information from the MLSListings MLS) as of 4/15/2024. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. ©2024 MLSListings Inc. All rights reserved. Data updated approximately every 30 minutes