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6001 Newport Shores Drive, Newport Beach, CA 92663

6,970 SqFt Lot

$3,495,000
MLS# NP15029818
6001 Newport Shores Drive Newport Beach, CA 92663 photo 1
$3,495,000
Status: Closed
MLS# NP15029818

6001 Newport Shores Drive,
Newport Beach, CA 92663

6,970 SqFt Lot

Listing Description for 6001 Newport Shores Drive

Price Reduced. Across PCH from the expansive beaches of Newport. All units are full-sized one bedroom, one bath units; some upstairs units have ocean views with large balconies and others with canal views. One of the units has a nice sized den as well which could be a smaller 2nd bedroom. This property is adjacent to the desirable residential community of Newport Shores and encircled by a canal. The Newport Shores Apartments are just a few hundred yards from the beach and as such, there is strong rental demand. This is one of the few buildings exceeding 2-4 units in the immediate West Newport Beach and peninsula area. Recent select rent increases 30+%.Rents are very, very low with an immediate attainable upside of almost 20% due to out of area ownership. The property features a private pool, 3 enclosed garages and 10 covered spaces. Many of the interiors have been upgraded and show well. Analysis is market data. Current GSI: $173,640, actual NOI is $99,342. Because rents are way under market the new LTV will be under 50%. Please call Listing Broker for information regarding financing if your Buyer requires debt placement.

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Sold on 2015-12-22
If you would like more information about properties for sale in Newport Beach, or are interested in touring the listing at 6001 Newport Shores Drive, feel free to contact us. A LivingSoCal Realtor specializing in Newport Beach will respond promptly to your inquiry.

Listing Details for 6001 Newport Shores Drive:

Key Facts

Sale Price: $3,495,000
Property Type: Residential Income
Status:Closed
Days on Market:190
Lot Size:6,970 SqFt
Year Built:1963

Location

Area: N8 - West Newport - Lido
Builder Tract: West Newport Beach (WSNB)

Features

Pool: None
Plumbing: Sewer In Street
Closing Date: 2015-12-22
Parking Spaces: 26
Heating: Wall Heater
Location: Canal, Level with Street, Lot-Level/Flat, Paved Street
Cooling: None
Garage: 3.00
Roof: Composition

Legal Conditions

Special Conditions:Standard

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Listing courtesy of Berkadia Real Estate Advisors, Steven Brombal (Newport);

If you would like more information on MLS Listing NP15029818 for 6001 Newport Shores Drive, Newport Beach, CA 92663, please feel free to contact us. A LivingSoCal Realtor in Newport Beach will be happy to answer any questions about this Residential Income property and assist you in scheduling a private showing.

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