1532 Miramar Drive, Newport Beach, California 92661, Newport Beach, 92661 - bed, bath
ACTIVE UNDER CONTRACT$3,295,000
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:
Property Age & Potential Updates: Built in 1948, the property is older and may require substantial investment for modernization, system upgrades, or ongoing maintenance to meet contemporary standards and buyer expectations in a luxury market.
Compared to the nearby listings
Price:$3.29M vs avg $2.70M (+$595,000)75%
Size:3,250 sqft vs avg 904 sqft75%
Price/sqft:$1.0K vs avg $50750%
More Insights
Built in 1948 (77 years old).
Condition: Built in 1948, this triplex shows its age with significantly outdated kitchens and bathrooms across its units. Kitchens feature old cabinets (some painted), dated tile or laminate countertops, and a mix of older and basic newer appliances. Bathroom updates are piecemeal, with some newer vanities but overall small, basic, and dated fixtures and finishes. Flooring is a mix of older ceramic tile and laminate. While the property appears maintained and functional, it requires substantial investment for modernization and system upgrades to meet contemporary standards, especially for its prestigious location.
Year Built
1948
Close
-
List price
$3.29M
Original List price
$3.5M
Price/Sqft
$1,014
HOA
-
Days on market
-
Sold On
-
MLS number
OC25126246
Home ConditionFair
Features
Deck
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
Fair
Built in 1948, this triplex shows its age with significantly outdated kitchens and bathrooms across its units. Kitchens feature old cabinets (some painted), dated tile or laminate countertops, and a mix of older and basic newer appliances. Bathroom updates are piecemeal, with some newer vanities but overall small, basic, and dated fixtures and finishes. Flooring is a mix of older ceramic tile and laminate. While the property appears maintained and functional, it requires substantial investment for modernization and system upgrades to meet contemporary standards, especially for its prestigious location.
Pros & Cons
Pros
Great Schools: Elementary School: Newport Elementary School (9/10).
Unbeatable Coastal Location: Situated on Balboa Peninsula Point, steps from both the beach and the bay, offering unparalleled access to coastal activities, shops, and restaurants in one of Orange County's most coveted areas.
Income-Generating Triplex: A residential income property with three distinct units (3-bed, 2-bed, 2-bed), providing significant rental income potential or flexible multi-generational living options.
Desirable Unit Amenities: Each unit includes its own laundry facilities, and the property offers two garages (one 1-car, one 2-car), enhancing tenant convenience and property value.
Prestigious & Private Community: Located on a charming, quiet one-way street within a prestigious Newport Beach community, ensuring a desirable and serene living environment.
Highly-Rated Schools: Zoned for well-regarded public schools (Elementary rating 9, Middle and High rating 7) within close proximity, appealing to families.
Cons
Property Age & Potential Updates: Built in 1948, the property is older and may require substantial investment for modernization, system upgrades, or ongoing maintenance to meet contemporary standards and buyer expectations in a luxury market.
Lack of Views: Despite its prime coastal proximity, the property description explicitly states 'view: None,' which can be a significant detractor for buyers seeking ocean or bay views typical of this high-value area.
Recent Price Reduction: The property experienced a price reduction from its original list price of $3.5M to $3.295M, potentially indicating initial overpricing or a need to adjust to market demand.