RARE, DOUBLE LOT with 10 units and only 25 yards away to the Pacific Ocean on Balboa Peninsula. Unit mix consists of the following: one 4 bed 2 bath (has ocean views), one 2 bed 1 baths, three 1 bed 1 baths, 5 studios, and there are 10 separate garages. Professional Property Management company handling property with rents of approximately $22,630 per month, this could be enhanced if new owner decides to turn property into weekly vacation rentals as well as raising rents. All units are upgraded and updated with new kitchens and all have wood floors. Seller states the city of Newport Beach is open to having 7-10 condos built on the land itself thus giving an amazing opportunity for Investors, please check with City of Newport Beach.
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Listing Courtesy ofLantern Bay Realty