121 42nd Street

    Newport Beach, CA 92663
    • $1,950,000
    • STATUS: Active Under Contract
    • ON SITE: 127 days
    • ID#: OC18193783
    Under Contract
    UPDATED: 41 min ago
    $1,950,000
    • 0
      BEDS
    • 0.06
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 2,748
      SQFT
    • $710
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1964
    County:

    School Ratings & Info

    Description

    121 42nd Street is a 2-unit multifamily investment property located in Newport Beach, one of the premier coastal housing markets in Southern California. Built in 1964, 121 42nd Street offers investors the opportunity to capitalize on these strong market trends that should increase rental income by approximately 147 percent. Situated on a 0.06-acre lot, the 2,748 square foot property consists of three- and four-bedroom floor plans averaging 1,374 square feet. 121 42nd offers garage parking, large balconies, and direct access to the beach. Located just steps from the beach, residents of 121 42nd Street live within close proximity to the shops, bars, and restaurants on Balboa Peninsula and Pacific Coast Highway. The property is also located near Hoag Hospital Newport Beach, one of the largest employers of Newport Beach.

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    Based on information from California Regional Multiple Listing Service, Inc. as of 2018-12-15T17:28:43.673. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. Licensed in the State of California, USA.
    www.teamforss.com/homes/86435210

    121 42nd Street Newport Beach, CA 92663

    • Price: $1,950,000
    • Status: Active Under Contract
    • Updated: 41 min ago
    • ID#: OC18193783
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.06
    Acres
    2,748
    SQFT
    $710
    $/SQFT
    1964
    Built
    Neighborhood:
    Other (Othr)
    County:
    Orange
    Area:
    NP - Balboa Peninsula
    Property Description
    121 42nd Street is a 2-unit multifamily investment property located in Newport Beach, one of the premier coastal housing markets in Southern California. Built in 1964, 121 42nd Street offers investors the opportunity to capitalize on these strong market trends that should increase rental income by approximately 147 percent. Situated on a 0.06-acre lot, the 2,748 square foot property consists of three- and four-bedroom floor plans averaging 1,374 square feet. 121 42nd offers garage parking, large balconies, and direct access to the beach. Located just steps from the beach, residents of 121 42nd Street live within close proximity to the shops, bars, and restaurants on Balboa Peninsula and Pacific Coast Highway. The property is also located near Hoag Hospital Newport Beach, one of the largest employers of Newport Beach.
    Exterior Features

    Garage Spaces 2.00 Lot Features Landscaped Lot Size Source Assessor Lot Size Units Acres Parking Total 2.00 Pool Features None Pool Private YN No Property Attached YN No

    Interior Features

    Average Studio Area Units Square Feet Average1 Bed Area Units Square Feet Average2 Bed Area Units Square Feet Average3 Bed Area Units Square Feet Common Walls No Common Walls Laundry Features None Levels Two

    Property Features

    Additional Parcels YN No Building Area Units Square Feet Community Features SidewalksStreet Lighting Country Us Electric Expense 171.00 Elevation Units Feet Fuel Expense 171.00 Gross Income 46200.00 Gross Operating Income 44814.00 Gross Scheduled Income 46200.00 Insurance Expense 350.00 Land Lease YN No Laundry YN No Maintenance Expense 1000.00 Net Operating Income 21077.00 New Construction YN No New Taxes Expense 20950.00 Number Of Separate Electric Meters 2 Number Of Separate Gas Meters 2 Number Of Separate Water Meters 0 Number Of Units Leased 2 Operating Expense 23737.00 Other Expense 750.00 Other Expense Description Other Rent Control YN No Senior Community YN No Sewer Public Sewer Special Listing Conditions Standard Subdivision Name Other River Sec Newport Beach Total Actual Rent 3850.00 Total Expenses 23737.00 Trash Expense 171.00 Vacancy Allowance Rate 3.00 Water Sewer Expense 171.00 Water Source Public Year Built Source Assessor

    Listing provided courtesy of Tyler Leeson of Marcus & Millichap Re Invest and Kurt Hediger of Marcus & Millichap Re Invest.


    Based on information from California Regional Multiple Listing Service, Inc. as of 2018-12-15T17:28:43.673. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. Licensed in the State of California, USA.
     
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