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Key Details
Sold Price $5,200,000
Property Type Multi-Family
Sub Type Triplex
Listing Status Sold
Purchase Type For Sale
Square Footage 3,166 sqft
Price per Sqft $1,642
Subdivision Balboa Peninsula (Residential)
MLS Listing ID P1-1051
Sold Date 04/20/21
Bedrooms 7
Full Baths 6
Construction Status Updated/Remodeled,Turnkey
HOA Y/N No
Year Built 1972
Lot Size 3,049 Sqft
Acres 0.07
Property Description
Welcome to Casa al Mare! Incredible attention to detail is the only way to describe this unique California Modern oceanfront Triplex located between the Newport and Balboa Piers in one of Southern California's most desired stretch of shoreline in Newport Beach. This meticulously restored and maintained investment property by interior designer Ron Gucciardo comes 'fully-furnished' and includes such luxury brand names as Viking, Tommy Bahama, and Calvin Klein. Enjoy living in one of these luxurious units and renting out the other 2 units. Stunning Pacific Ocean, Catalina, and Sunset views.Stackable washers and dryers are included in each unit and the immaculate 3 car garage contains a separate laundry room to handle weekly or monthly turnover of rental units. The garage also houses 3 Noritz tankless water heaters, one for each unit, as well as a Life Source Water Filtration System to provide filtered water for the entire property. Finally, each unit also comes with a Viking Stainless Steel Barbeque for outdoor use.Just minutes from the Balboa Island Ferry, Fun Zone, the Wedge and world-class shopping and dining. Also located steps away from public parking to accommodate guests. The property is situated on a corner lot, with easy access to and from the property on a wide access walkway. Pro-forma gross income of $431K for all 3 units and net operating income of $251K (4.38% cap rate). Visit www.400oceanfront.com for more info.
Location
State CA
County Orange
Area Np - Balboa Peninsula
Rooms
Ensuite Laundry Laundry Closet, In Garage, Stacked
Interior
Interior Features Beamed Ceilings, Built-in Features, Balcony, Ceramic Counters, Crown Molding, Furnished, Granite Counters, High Ceilings, Open Floorplan, Stone Counters, Recessed Lighting, Tile Counters, Wired for Data, Bedroom on Main Level, Main Level Master
Laundry Location Laundry Closet,In Garage,Stacked
Heating Forced Air, Fireplace(s)
Cooling None
Flooring Carpet, Stone, Tile
Fireplaces Type Gas, Living Room, Masonry, Raised Hearth
Fireplace Yes
Appliance Barbecue, Dishwasher, Free-Standing Range, Freezer, Gas Range, Ice Maker, Microwave, Refrigerator, Range Hood, Tankless Water Heater, Vented Exhaust Fan, Water Purifier, Dryer, Washer
Laundry Laundry Closet, In Garage, Stacked
Exterior
Garage None
Garage Spaces 3.0
Garage Description 3.0
Fence None
Pool None
Community Features Biking, Fishing, Sidewalks, Water Sports
Waterfront Description Beach Access,Beach Front,Ocean Access,Ocean Front
View Y/N Yes
View Catalina, Coastline, Ocean, Panoramic, Pier, Water
Roof Type Composition
Porch Deck, Open, Patio, Tile
Parking Type None
Attached Garage Yes
Total Parking Spaces 3
Private Pool No
Building
Lot Description Corner Lot, Rectangular Lot, Sprinklers None
Faces West
Story 2
Entry Level Two
Sewer Public Sewer
Water Public
Architectural Style Modern
Level or Stories Two
Construction Status Updated/Remodeled,Turnkey
Schools
School District Newport Mesa Unified
Others
Senior Community No
Tax ID 04812119
Security Features Carbon Monoxide Detector(s),Smoke Detector(s)
Acceptable Financing Cash, Cash to New Loan, 1031 Exchange
Listing Terms Cash, Cash to New Loan, 1031 Exchange
Financing Conventional
Special Listing Condition Standard
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Bought with Farah Kafaipour • Keller Williams Realty