Est. cap rate

1.0%

Assumed rent, all units

$7,060/mo

Units

2

Price per unit

$2,075,000

Est. annual NOI

$42,360

Expense assumption

50%

Estimates only, based on HUD Fair Market Rents (a conservative 40th percentile floor) and a standard 50% operating expense assumption. Not a guarantee of income or value. Ask Alex for a pro forma using comparable rent data.

Run your own numbers

Adjust the assumptions to see cash flow and cash on cash return.

Illustration only, using a 30 year loan and your assumptions above. Not a loan offer, financial advice, or a guarantee. Confirm financing and actual rents independently.

Property details

Type

Duplex

Bedrooms

5

Bathrooms

5

Building size

2,805 sqft

Lot size

2,614 sqft

Year built

1967

Stories

2

Garage spaces

2

Style

Cottage

Heating

Central

Cooling

Central Air

Pool

None

View

Neighborhood

Status

Active

Days on market

90

MLS #

240949644

About this property

Located on world famous Balboa Island, this enchanting cottage by the sea is right out of a storybook! The front 3bdrm/3bath house features one bedroom and bathroom downstairs, 2 bedrooms/ 2 bathrooms upstairs. A fenced-in patio is the perfect place to begin or end your day. The Dutch door lets guests enjoy ocean breezes in the living and dining area with lots of natural light, fireplace and built-in bookcases and window seats. The remodeled kitchen features a 6-burner gas range, microwave, stainless steel refrigerator, quartz and butcher block countertops. Primary suite has an en suite bathroom. All bathrooms are newly remodeled and new AC has been installed. The upstairs back unit is a 2bdrm/1 bathroom with kitchen and living room and does not share any walls with the front house. Back upstairs unit is tenant-occupied and only able to show with an accepted offer. Two car garage and a laundry closet in the side yard make this a great rental or vacation home. Located just two blocks from Balboa Island's "downtown" shops and restaurants, or pop over to the beach on the ferry!

Location

224 Amethyst

Newport Beach, Orange, CA, 92662