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Key Details
Sold Price $2,060,000
Property Type Multi-Family
Sub Type Res Income 2-4 Units
Listing Status Sold
Purchase Type For Sale
MLS Listing ID NP24103569
Sold Date 10/24/24
Bedrooms 5
HOA Y/N No
Lot Size 2,566 Sqft
Property Description
**Newport Beach Duplex Opportunity!**Located in the highly sought-after "Newport Shores" community in Southern California, this duplex has been updated in recent years and offers exceptional value. Featuring two beautifully designed units, this property is an ideal investment. The first unit is a 3-bedroom, 2-bathroom space, while the second unit comprises 2 bedrooms and 1 bathroom. The property includes a 2-car garage, a carport, and shared laundry facilities. Both units boast spacious, open floor plans filled with natural light and a refreshing ocean breeze. The 3-bedroom unit features a large balcony at the back and another at the front, providing ample sunlight and outdoor enjoyment. The 2-bedroom unit has a sliding glass door at the front, offering lots of light and access to cool ocean breezes. Well-maintained with longstanding tenants, the property offers the following rental details: - **Lower Unit (A)**: 2 bed / 1 bath updated several years ago, currently rented at $2,800/month (underperforming). - **Upper Unit (B)**: 3 bed / 2 bath, recently remodeled, currently rented at $3,600/month (underperforming). This is a fantastic chance to invest in a fully occupied duplex in the desirable "Newport Shores" neighborhood. Tenants will enjoy the Southern California lifestyle, with easy access to beaches, surfing, paddleboarding, boating, and biking.
**Newport Beach Duplex Opportunity!**Located in the highly sought-after "Newport Shores" community in Southern California, this duplex has been updated in recent years and offers exceptional value. Featuring two beautifully designed units, this property is an ideal investment. The first unit is a 3-bedroom, 2-bathroom space, while the second unit comprises 2 bedrooms and 1 bathroom. The property includes a 2-car garage, a carport, and shared laundry facilities. Both units boast spacious, open floor plans filled with natural light and a refreshing ocean breeze. The 3-bedroom unit features a large balcony at the back and another at the front, providing ample sunlight and outdoor enjoyment. The 2-bedroom unit has a sliding glass door at the front, offering lots of light and access to cool ocean breezes. Well-maintained with longstanding tenants, the property offers the following rental details: - **Lower Unit (A)**: 2 bed / 1 bath updated several years ago, currently rented at $2,800/month (underperforming). - **Upper Unit (B)**: 3 bed / 2 bath, recently remodeled, currently rented at $3,600/month (underperforming). This is a fantastic chance to invest in a fully occupied duplex in the desirable "Newport Shores" neighborhood. Tenants will enjoy the Southern California lifestyle, with easy access to beaches, surfing, paddleboarding, boating, and biking.
Location
State CA
County Orange
Area Oc - Newport Beach (92663)
Zoning Public Rec
Building
Lot Description Corner Lot, Sidewalks
Story 2
Lot Size Range 1-3999 SF
Level or Stories 2 Story
Others
Monthly Total Fees $44
Acceptable Financing Land Contract
Space Rent $3,600
Listing Terms Land Contract
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