Est. cap rate

1.0%

Assumed rent, all units

$6,000/mo

Units

2

Price per unit

$1,745,000

Est. annual NOI

$36,000

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

2

Building size

1,633 sqft

Lot size

2,614 sqft

Year built

1932

Stories

2

Garage spaces

2

Style

Cape Cod

Heating

Forced Air,Wall Furnace,Central

Cooling

Central Air

Pool

None

View

Neighborhood

Status

Active

Days on market

36

MLS #

247122331

About this property

Remodeled Balboa Island Duplex blending modern upgrades with classic coastal charm. The bright single-level main cottage has been recently completely renovated and showcases two bedrooms, two baths, beautiful new white oak hardwood floors, central AC, brand new kitchen with quartz counters, and a sunny raised front patio. The upper rear unit is an ideal retreat or rental opportunity. With one bedroom and one bath, it features a generous living space and updated amenities throughout, including new windows, flooring, and lighting. There are 2 single-car garages, each with its own laundry facilities, plus a parking space behind the garage. Steps from both the scenic South Bayfront and the welcoming Island Village, 121 Marine is the perfect place to call home.

Location

121 Marine Avenue

Newport Beach, Orange, CA, 92662