Est. cap rate

0.7%

Assumed rent, all units

$7,160/mo

Units

2

Price per unit

$2,897,500

Est. annual NOI

$42,960

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

3,002 sqft

Lot size

3,049 sqft

Year built

1965

Stories

2

Garage spaces

2

Heating

Central

Cooling

None

Pool

None

View

Coastline,Ocean,Pier,Water,Panoramic

Status

Active

Days on market

138

MLS #

242839027

About this property

Experience the oceanfront lifestyle of the Balboa Peninsula from this remodeled duplex, with views of the Pacific Ocean, Catalina Island, and Newport Pier. The property offers two residences, each with its own kitchen, living area, balcony, indoor laundry, storage, and attached garage, plus additional parking. First Floor Unit: Open-concept living area with kitchen and balcony, featuring 3 bedrooms and 2 bathrooms, one car garage plus one extra space. Second Floor Unit: Open-concept living area with kitchen, balcony, and private rear patio, featuring 2 bedrooms and 3 bathrooms, one car garage plus one extra space. Large windows and sliding glass doors bring natural light into both units and frame the coastal views. Recent improvements include a new roof and updated interiors with modern finishes. Located near Newport Beach Pier, Lido Marina Village, Balboa Pier, the Balboa Island Ferry Fun Zone, waterfront dining, shopping, surfing, paddleboarding, boating, and the Peninsula’s bike paths within easy reach. Its two-unit layout offers flexibility for personal use, rental income, or a combination of both. The property may offer potential for a third-level accessory dwelling unit (ADU) or a mixed-use configuration, subject to applicable zoning and City approval. Buyer to independently verify permitted uses and the feasibility of any proposed additions or alterations with the City of Newport Beach. Rear patio furniture and the proposed third-level ADU shown in marketing materials are renderings for illustration only and do not depict existing improvements or City approvals.

Location

2212 W Oceanfront

Newport Beach, Orange, CA, 92663