ActiveResidential · sale

203 6th Street

Newport Beach, CA 92661

$2,400,000

  • 0.05 acres
  • Built 1941

Listed by Balboa Realty · MLS #NP26193591

203 6th Street, Newport Beach, CA 92661 — photo 1 View full photo
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A FEW THINGS TO NOTICE

What stands out.

Year built

Built in 1941.

Property size

0.05 acres listed.

Highlights from the listing description and property details. Confirm features with the listing agent.

THE PROPERTY

Get to know the property.

RARE BALBOA PENINSULA REDEVELOPMENT OPPORTUNITY Located in the heart of Newport Beachs iconic Balboa Peninsula 203 6th Street presents a unique opportunity for investors developers and those seeking to create a new coastal residence in one of Southern Californias most coveted beach communities The property is currently configured as a triplex consisting of three separate onebedroom units offering immediate income potential while providing an exceptional opportunity to reimagine the property for the futureSituated on an approximately 2178squarefoot lot the propertys existing configuration provides flexibility for a variety of investment strategies An investor may choose to maintain and improve the existing threeunit income property while a developer or owneruser may explore the potential to redevelop the site and maximize its value through a new construction project subject to City of Newport Beach approvals and applicable zoning and development regulationsThe propertys location is a major part of the opportunity Positioned just moments from the beach bay restaurants shops and the vibrant entertainment that defines the Balboa Peninsula this is an exceptionally walkable coastal setting The combination of a highly desirable Peninsula location existing multifamily use and valuable land creates a compelling proposition for buyers looking beyond the current improvementsFor developers the real opportunity lies in the land The existing structure can serve as a source of rental income while plans are evaluated or the site can be considered for a future redevelopment project Buyers should independently verify zoning allowable density setbacks building requirements parking requirements and any other development parameters with the City of Newport BeachWhether acquired as an incomeproducing triplex repositioned through renovation or explored as a future redevelopment site 203 6th Street offers a rare chance to secure a piece of Balboa Peninsula real estate with significant longterm potential
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THE NEIGHBORHOOD

Explore the location.

203 6th Street, Newport Beach, CA 92661

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THE DETAILS

The details, all in one place.

Property type
ResidentialIncome
Category
Residential
Year built
1941
Garage spaces
0
Cooling
None
Heating
WallFurnace
Appliances
Refrigerator
Flooring
Carpet,Tile,Vinyl
Utilities
ElectricityAvailable,NaturalGasAvailable,SewerAvailable,WaterAvailable
Fencing
Wood
Pool
No
Pool features
None
Spa
No
Subdivision
Balboa Peninsula (Residential) (BALP)
Parcel
04802214
HOA fee
$0.00

Features and school information are supplied by the listing source. Confirm measurements, school assignments, HOA terms and rental restrictions before making a decision.

OWNERSHIP, WITH A PLAN

Investor outlook.

Explore this property’s rental potential with an all-cash purchase. Monthly rent starts at 5% of the purchase price per year, divided by 12. Adjust it and the other assumptions to explore your scenario.

These are planning assumptions, not a rental appraisal or a loan quote. The starting rent is a price-based estimate; a local leasing professional can help confirm market rent.

Investor outlook assumes an all-cash purchase. No mortgage payment is deducted.

Estimated monthly cash flow · cash purchase—
Estimated monthly rent$10,000.00
Cap rate—

Annual operating income: —

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Purchase price
Rental income & operating costs

Purchase price × 5% ÷ 12. Updates with purchase price until you enter a custom rent.

Annual insurance starts at purchase price × 0.25%, rounded to the nearest available amount. Updates with purchase price until you choose another amount.A planning estimate, not an insurance quote. Adjust it for your property and coverage.

Percentages are editable examples, not ERA fee quotes. Management is applied to rent after vacancy; maintenance and capital reserves use scheduled rent. Add owner-paid utilities, mortgage insurance and other recurring expenses under other costs.

How this scenario is calculated

Annual operating income is rent after vacancy, management, maintenance, taxes, insurance, HOA and other operating costs, before financing and capital reserves. Cap rate divides annual operating income by purchase price. Estimated monthly cash flow assumes an all-cash purchase: rent after vacancy, management, maintenance, taxes, insurance, HOA, other operating costs and capital reserves. No mortgage payment is deducted. The mortgage calculator is separate; loan payments would reduce cash flow for a financed purchase. One-time acquisition costs, renovations, income taxes, depreciation and appreciation are excluded.

Mortgage payment calculator

Explore financing separately. These loan settings do not change the all-cash investor outlook.

Mortgage assumptions

20% down and 7% interest are illustrative starting values.

Estimated monthly principal & interest—Loan payment only. Excludes property taxes, homeowners/flood insurance, mortgage insurance and HOA dues.

About this payment estimate

Based on a fixed-rate, fully amortizing loan with monthly payments and the price, down payment, interest rate and term you select. The interest rate is an example, not a current rate offer or APR; APR includes certain loan costs. This is an illustration, not a Loan Estimate, approval, offer of credit or commitment to lend.

Your actual payment, rate and eligibility depend on your lender, credit, loan program and property. Closing costs, points, prepaid expenses and lender fees are not included. Taxes and insurance may change, and mortgage insurance may be required, particularly with a down payment below 20%. Ask your lender for a Loan Estimate and a complete monthly payment including applicable taxes, insurance and fees.

Dollar results are rounded to the nearest cent; calculations retain precision until display. A cash purchase has no loan payment but still has ownership costs. Understand your total home payment (CFPB).

ERA PROPERTY MANAGEMENT

See its potential.
Have a plan for what follows.

Considering this property as a rental? Start with the numbers, then talk through the day-to-day with a local management team.

  1. Understand the opportunity.

    Review rental pricing, property condition and your ownership goals with a local professional.

  2. Make a strong first impression.

    Bring together property preparation, professional marketing and applicant screening.

  3. Stay connected to your investment.

    Get support with rent collection, resident communication, maintenance coordination and owner reporting.

Get a local rental estimateTalk through your management needs
Stone-front home with a landscaped lawn and central entry
A more complete plan for your property

LOCAL PEOPLE. SHARED COMMITMENT.

A team behind your next step.

From your first question to the everyday work of ownership, a conversation with the right person makes a difference.

Meet ERA Property Management

Residential management in Utah, Nevada and Texas. Service availability and rental eligibility must be confirmed for each property. Commercial and association services are available through our management services page.

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203 6th Street, Newport Beach, CA 92661 · MLS #NP26193591

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Listing information

MLS #NP26193591 · California Regional MLS

Listing brokerage: Balboa Realty
Listing agent: Arthur Dorr

Listing status: Active. Record updated . Confirm current availability and price with the listing agent.

The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by California Regional Multiple Listing Service, Inc. "CRMLS" and is protected by all applicable Copyright © 2023 laws. Information provided is for viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and CRMLS and its affiliates do not warrant or guarantee such accuracy. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional. Information deemed reliable but not guaranteed. Copyright © 2023 California Regional Multiple Listing Service, Inc. All rights reserved.