215 Marine, Newport Beach, California 92662, Newport Beach, 92662 - bed, bath
ACTIVE UNDER CONTRACT$1,749,000
215 Marine, Newport Beach, California 92662
0Bed
0Bath
3,080Sqft
2,614Lot
Price Vs. Estimate
Estimation data not available
Key pros and cons
Top Pros:
Premier Balboa Island Location: Situated in the highly exclusive Balboa Island, Newport Beach, a top Southern California destination, ensuring high demand and property value.
Top Cons:
Historic Building Age: Constructed in 1938, the property may present challenges related to aging infrastructure, potential for higher maintenance costs, or the need for further updates beyond the described remodels.
Compared to the nearby listings
Compared against 0 nearby listings
More Insights
Built in 1938 (87 years old).
Condition: Despite being built in 1938, the residential units, particularly Unit A, have undergone significant remodeling, as evidenced by the description and images. Unit A features central A/C and a kitchen with Viking stainless steel appliances, granite countertops, and updated wood cabinetry. Unit B also shows updated stainless steel appliances and modern flooring. The living spaces are bright, clean, and appear move-in ready with contemporary finishes. While the overall building is old, the visible residential and commercial spaces have been well-maintained and updated within the last 5-15 years, aligning with the 'Good' condition criteria for renovated properties.
Year Built
1938
Close
-
List price
$1.75M
Original List price
$1.75M
Price/Sqft
$568
HOA
-
Days on market
-
Sold On
-
MLS number
SR25240000
Home ConditionGood
Features
Good View:
View-
About this home
FAMILY TRUST AUCTION!!! RARE OPPORTUNITY TO PURCHASE AN INCOME PRODUCING, MIXED USE BUILDING ON NEWPORT BEACH’S HIGHLY EXCLUSIVE BALBOA ISLAND, ONE OF SOUTHERN CALIFORNIA’S PREMIERE LOCATIONS. LOCATED WALKING DISTANCE TO GOURMET RESTAURANTS AND PREMIERE DINING. MAY BE SUBJECT TO COURT CONFIRMATION. 215 MARINE AVENUE – UNIT A FRONT FACING REMODELED UNIT. 2 BEDROOMS, 1 BATH. HIGHLIGHTS: STACK WASHER/DRYER HOOKUP. CENTRAL A/C. KITCHEN WITH VIKING STAINLESS STEEL APPLIANCES. 215 MARINE AVENUE – UNIT B REAR UNIT. VACANT. 1 BEDROOM, 1 BATH. HIGHLIGHTS: KITCHEN WITH STAINLESS STEEL APPLIANCES. LAUNDRY ROOM WITH SIDE BY SIDE WASHER/DRYER HOOKUP. 215½ MARINE AVENUE – BIKINI ALLEY (STORE FRONT). 215 MARINE AVENUE – REAL ESTATE OFFICE WITH 2 CAR ATTACHED GARAGE AND ALLEY ACCESS.
Condition Rating
Good
Despite being built in 1938, the residential units, particularly Unit A, have undergone significant remodeling, as evidenced by the description and images. Unit A features central A/C and a kitchen with Viking stainless steel appliances, granite countertops, and updated wood cabinetry. Unit B also shows updated stainless steel appliances and modern flooring. The living spaces are bright, clean, and appear move-in ready with contemporary finishes. While the overall building is old, the visible residential and commercial spaces have been well-maintained and updated within the last 5-15 years, aligning with the 'Good' condition criteria for renovated properties.
Pros & Cons
Pros
Premier Balboa Island Location: Situated in the highly exclusive Balboa Island, Newport Beach, a top Southern California destination, ensuring high demand and property value.
Diverse Income-Generating Asset: A mixed-use property featuring residential units, a storefront, and an office, providing multiple revenue streams and investment flexibility.
Excellent Walkability & Local Amenities: Conveniently located within walking distance to gourmet restaurants and premiere dining, enhancing tenant appeal and lifestyle.
Modernized Residential Unit: Unit A boasts a recent remodel, central A/C, and high-end Viking stainless steel appliances, offering immediate move-in readiness or premium rental potential.
Valuable Commercial Components & Parking: Includes a commercial storefront, a real estate office, a 2-car attached garage, and alley access, adding significant utility and commercial appeal.
Cons
Historic Building Age: Constructed in 1938, the property may present challenges related to aging infrastructure, potential for higher maintenance costs, or the need for further updates beyond the described remodels.
Complex Acquisition Process: The sale is an 'AUCTION' and 'MAY BE SUBJECT TO COURT CONFIRMATION,' which can introduce delays, additional legal complexities, and uncertainty for potential buyers.
Potential for Varied Property Condition: While one residential unit is remodeled, the overall condition of the other units and commercial spaces is not fully detailed, suggesting potential for varying levels of required upgrades or renovations.