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203 8th St

Newport Beach, CA 92661 View Map $3,650,000 Ask a Question
Sq.Ft. Lot2,396
Year1965
Michelle Q. Linovitz

Michelle Q. Linovitz

(949) 632-1618
DRE No.: 01864077

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Status: Sold
Property Type:Residential Income (Multi-Family)
MLS #:NP22044886
Date Sold:3/28/2022
Lot Size:2,396 Sq. Ft.
County:Orange

Listing Agent/Office

Agent:Ron Millar
Office:Arbor Real Estate
This duplex offers an exceptional location within close proximity to both the ocean and the bay, providing fantastic rooftop views of both Newport Bay and the breaking surf. Both units have been remodeled and provide modern kitchen amenities, a soothing neutral palette of colors and generous indoor / outdoor living spaces. The lower unit offers two bedrooms and one bath with an expansive front patio and private entrance. The upper unit has three bedrooms, two bathrooms, its own entrance and a rooftop deck to capture the tranquil panoramic views, summon the gentle ocean breezes and enjoy al fresco dining. Each unit has access to one parking space in the garage and a shared washer and dryer. For boating and sailing enthusiasts, the property is adjacent to the Newport Harbor Yacht Club. With a strong history of rental income, this is a tremendous opportunity to live in one unit, generate rental income from the other unit, all while experiencing the coveted Newport Beach lifestyle with world-class beaches, surfing, paddle boarding, sailing, and dining. Current rental rents have been provided to long term tenants and could be under market.

Detailed Maps

Price Change History

Date Old Price New Price Percent Change
3/30/2022$3,695,000$3,650,000-1.2%

Community Information

Address:203 8th St Newport Beach, CA 92661
Area:NP - Balboa Peninsula
County:Orange
City:Newport Beach
Subdivision:Balboa Peninsula (Residential) (Balp)
Zip Code:92661

Architecture

Year Built:1965
Stories:2
Building Area: 2446.0
Number of Buildings: 1
Total Units: 2
Stories Total: 2
Unit 1: 1 Unit • 2 Beds • 1 Bath • Unfurnished • $3,500 actual rent • $3,500 total rent • $4,000 pro forma
Unit 2: 1 Unit • 3 Beds • 2 Baths • Unfurnished • $5,000 actual rent • $5,000 total rent • $8,000 pro forma
Garage Spaces: 2.0
Parking Features: Garage
Parking Total: 2.0

Features / Amenities

Fireplace Features: Family Room
Laundry: Common Area, In Garage
Common Walls: 1 Common Wall
Cooling: Central Air
Heating: Forced Air

Property Features

Lot Size: 0.06 Acres / 2,396 Sq. Ft.
Lot Features: Street Level
View: Bay, Neighborhood, Ocean
Sewer: Public Sewer
Water: Public
Directions:W. Balboa Blvd. to 8th St. Property is on the bay side of W. Balboa Blvd.

Tax and Financial Info

Buyer Financing: Cash
Gross Income: $102,000
Gross Scheduled Income: $102,000
Net Operating Income: $97,000
Insurance Expense: $2,200
Water/Sewer Expense: $1,680
Operating Expense: $5,000
Terms: Cash, CashtoNewLoan
Total Actual Rent: $8,500
Land Lease: No
Disclosures: FamilialRelation, Principal is Real Estate Licensed

Schools

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Based on information from California Regional Multiple Listing Service, Inc. as of December 9, 2022. 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 usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent. IDX provided by Sierra Interactive.