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.
Listing Details for 6001 Newport Shores Drive:
|Property Type:||Residential Income|
|Days on Market:||190|
|Lot Size:||6,970 SqFt|
|Area:||N8 - West Newport - Lido|
|Builder Tract:||West Newport Beach (WSNB)|
|Plumbing:||Sewer In Street|
|Location:||Canal, Level with Street, Lot-Level/Flat, Paved Street|
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.