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122 28th ST Newport Beach, CA 92663
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Key Details
Sold Price $2,975,000
Property Type Multi-Family
Sub Type Duplex
Listing Status Sold
Purchase Type For Sale
MLS Listing ID DW22259032
Sold Date 02/28/23
HOA Y/N No
Year Built 1951
Lot Size 2,178 Sqft
Property Sub-Type Duplex
Property Description
122 28th St is a Vacation Rental Duplex on the highly sought after Balboa Peninsula. It's only 9 homes from the sand and water! This property offers a 3 bedroom/2 Bathroom (downstairs) and a 2 bedroom/1 bathroom (upstairs). Both units have been renovated and ready to help your portfolio cashflow. Each unit has 1 garage parking spot and plenty of street parking available. This property has been a great rental for the last decade and with the current gross income approximately at $155,000 per year. There is still upside for the next owner to raise rents to market, as similar properties are currently collecting near $195,000 per year.
Location
State CA
County Orange
Area N8 - West Newport - Lido
Interior
Interior Features Balcony, Ceiling Fan(s)
Cooling Wall/Window Unit(s)
Flooring Laminate
Fireplaces Type None
Fireplace No
Laundry Inside, Laundry Room
Exterior
Parking Features Garage
Garage Spaces 2.0
Garage Description 2.0
Pool None
Community Features Curbs, Street Lights, Suburban, Sidewalks
View Y/N Yes
View Ocean
Total Parking Spaces 2
Private Pool No
Building
Lot Description 0-1 Unit/Acre
Story 2
Entry Level Two
Sewer Public Sewer
Water Public
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 04709203
Acceptable Financing Cash to New Loan
Listing Terms Cash to New Loan
Financing Other
Special Listing Condition Standard, Trust
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