1544 Placentia Avenue

    Newport Beach, CA 92663
    • $11,500,000
    • STATUS: Active Under Contract
    • ON SITE: 61 days
    • ID#: OC18141334
    Under Contract
    UPDATED: 131 min ago
    $11,500,000
    • 0
      BEDS
    • 0.88
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 20,823
      SQFT
    • $552
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1987
    County:

    School Ratings & Info

    Description

    Newport Seaside Apartments is a 25-unit multifamily investment property located in Newport Beach, one of the premiere coastal housing markets in Southern California. Built in 1987, Newport Seaside Apartments offers investors the opportunity to capitalize on the unique characteristics of Newport Beach to increase rental income by approximately 76 percent. Situated on a 0.82-acre lot, the 20,823 square foot property consists of two-bedroom and three-bedroom floor plans averaging over 830 square feet. Newport Seaside Apartments offers an attractive of amenities including on-site laundry, carport parking, balconies, and a playground.

    Monthly Payment Calculator



    Based on information from California Regional Multiple Listing Service, Inc. as of 2018-08-14T00:29:41.427. 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.
    www.playavistaliving.com/homes/84610793

    1544 Placentia Avenue Newport Beach, CA 92663

    • Price: $11,500,000
    • Status: Active Under Contract
    • Updated: 131 min ago
    • ID#: OC18141334
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.88
    Acres
    20,823
    SQFT
    $552
    $/SQFT
    1987
    Built
    Neighborhood:
    Other (Othr)
    County:
    Orange
    Area:
    N8 - West Newport - Lido
    Property Description
    Newport Seaside Apartments is a 25-unit multifamily investment property located in Newport Beach, one of the premiere coastal housing markets in Southern California. Built in 1987, Newport Seaside Apartments offers investors the opportunity to capitalize on the unique characteristics of Newport Beach to increase rental income by approximately 76 percent. Situated on a 0.82-acre lot, the 20,823 square foot property consists of two-bedroom and three-bedroom floor plans averaging over 830 square feet. Newport Seaside Apartments offers an attractive of amenities including on-site laundry, carport parking, balconies, and a playground.
    Exterior Features

    Carport Spaces 25.00 Garage Spaces 0.00 Lot Features Landscaped Lot Size Source Assessor Lot Size Units Square Feet Parking Total 25.00 Pool Features None Pool Private YN No Property Attached YN No

    Interior Features

    Average Studio Area Units Square Feet Average1 Bed Area Units Square Feet Average2 Bed Area Units Square Feet Average3 Bed Area Units Square Feet Common Walls No Common Walls Heating Central Furnace Heating YN Yes Laundry Features Community Levels Two

    Property Features

    Additional Parcels YN No Association Fee 0.00 Association YN No Building Area Units Square Feet Community Features Sidewalks Country Us Electric Expense 4080.00 Elevation Units Feet Fuel Expense 4080.00 Gross Income 436728.00 Gross Operating Income 423806.00 Gross Scheduled Income 436728.00 Insurance Expense 5000.00 Land Lease YN No Laundry YN Yes Maintenance Expense 12500.00 Net Operating Income 228697.00 New Taxes Expense 126956.00 Number Of Separate Electric Meters 25 Number Of Separate Gas Meters 25 Number Of Separate Water Meters 0 Number Of Units Leased 25 Operating Expense 195109.00 Other Expense 19500.00 Other Expense Description Other Professional Management Expense 14833.00 Rent Control YN No Senior Community YN No Special Listing Conditions Standard Subdivision Name Other The First Add To The Newport Mesa Tract Total Actual Rent 35894.00 Total Expenses 195109.00 Trash Expense 4080.00 Vacancy Allowance Rate 3.00 Water Sewer Expense 4080.00 Water Source Public Year Built Source Assessor Zoning R3

    Listing provided courtesy of Tyler Leeson of Marcus & Millichap Re Invest.


    Based on information from California Regional Multiple Listing Service, Inc. as of 2018-08-14T00:29:41.427. 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.
     
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