1532 Miramar Drive, Newport Beach, California 92661, Newport Beach, 92661 - bed, bath
ACTIVE$3,500,000
1532 Miramar Drive, Newport Beach, California 92661
0Bed
0Bath
3,250Sqft
4,065Lot
Price Vs. Estimate
Estimation data not available
Key pros and cons
Top Pros:
Great Schools: Elementary School: Newport Elementary School (9/10).
Top Cons:
Age of Construction: Built in 1948, the property is older and may require significant capital expenditure for modernization, updates, or addressing potential deferred maintenance to maximize its value and appeal.
Compared to the nearby listings
Price:$3.50M vs avg $2.70M (+$800,000)75%
Size:3,250 sqft vs avg 904 sqft75%
Price/sqft:$1.1K vs avg $53850%
More Insights
Built in 1948 (77 years old).
Condition: Built in 1948, this triplex shows significant age and requires substantial modernization. The kitchens feature very dated wood or painted cabinets, old tile or laminate countertops, and a mix of older and basic newer appliances, along with outdated lighting fixtures. Bathrooms are a mix of basic updates and visibly dated elements. While functional, the property's interior style and features are far from current standards, necessitating significant capital expenditure for full kitchen and bathroom renovations to enhance appeal and value, as also noted in the property analysis.
Year Built
1948
Close
-
List price
$3.5M
Original List price
$3.5M
Price/Sqft
$1,077
HOA
-
Days on market
-
Sold On
-
MLS number
OC25025331
Home ConditionPoor
Features
Deck
Patio
View-
About this home
Steps to the beach and the bay on Balboa Peninsula Point, this triplex sits in one of the most coveted locations of Orange County. The charming, one way street is quiet and private. Walk or ride bikes to favorite Balboa shops, cafes, and restaurants. Hit the surf or hop on a boat in minutes. The residential income property features three units: Unit C offers three bedrooms and a large deck, Unit A offers two bedrooms and one bathroom, and Unit B offers two bedrooms and two bathrooms with an enclosed patio off of the living area. Laundry rooms in each unit. Two garages in the building: one car garage and a two car garage. Total of 7 bedrooms, 5 bathrooms in the building. Do not miss this opportunity to own in this prestigious community!
Nearby schools
9/10
Newport Elementary School
Public,•PK-6•1.8mi
7/10
Horace Ensign Intermediate School
Public,•7-8•2.1mi
7/10
Newport Harbor High School
Public,•9-12•2.2mi
Condition Rating
Poor
Built in 1948, this triplex shows significant age and requires substantial modernization. The kitchens feature very dated wood or painted cabinets, old tile or laminate countertops, and a mix of older and basic newer appliances, along with outdated lighting fixtures. Bathrooms are a mix of basic updates and visibly dated elements. While functional, the property's interior style and features are far from current standards, necessitating significant capital expenditure for full kitchen and bathroom renovations to enhance appeal and value, as also noted in the property analysis.
Pros & Cons
Pros
Great Schools: Elementary School: Newport Elementary School (9/10).
Prime Coastal Location: Situated 'steps to the beach and the bay on Balboa Peninsula Point,' this property boasts one of Orange County's most coveted and prestigious locations, offering unparalleled access to coastal amenities.
Income-Generating Triplex: As a residential income property featuring three distinct units (3BR, 2BR/1BA, 2BR/2BA), it offers significant rental income potential, appealing to investors or owner-occupiers seeking to offset costs.
Exceptional Lifestyle & Walkability: The property provides direct access to a vibrant lifestyle, allowing residents to walk or bike to Balboa shops, cafes, and restaurants, and enjoy surfing or boating within minutes.
Private & Desirable Street: Located on a charming, quiet, one-way street, the property offers enhanced privacy and a serene living environment within a highly sought-after area.
Individual Unit Convenience: Each unit is equipped with its own laundry facilities, and the building includes two garages (one-car and two-car), providing valuable convenience and dedicated parking for residents.
Cons
Age of Construction: Built in 1948, the property is older and may require significant capital expenditure for modernization, updates, or addressing potential deferred maintenance to maximize its value and appeal.
Lack of Views: Despite its prime coastal proximity, the property explicitly states 'view: None,' which could be a notable drawback for buyers expecting ocean or bay views in such a high-value location.
High Entry Price Point: The $3.5 million list price, while reflective of the location and income potential, represents a substantial investment, potentially limiting the pool of prospective buyers.