6001 Newport Shores Drive, Newport Beach, CA 92663 | MLS NP15029818 | Listing Information | Real Living Pacific Realty | Real Living Real Estate
Real Living Pacific Realty
800-660-9140

6001 Newport Shores Drive,  Newport Beach CA, 92663

9,999 sqft
Status: Sold
MLS#: NP15029818
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Real Living Pacific Realty
800-660-9140

Listing Provided Courtesy Of: Berkadia Real Estate Advisors
Last Updated: 12/6/2016 10:09 AM
Description for 6001 Newport Shores Drive Newport Beach, CA 92663
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.
Price
Sold Price:
$3,495,000
Sold Date:12/22/2015
West Newport Beach (Wsnb)
Orange
9,999 (approx)
NP15029818
Closed
Description
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 Information
Property Type: Cluster, 2 Story
0.16 Acres 9,999 (approx) 1963
Yes- 3 spaces 2
West Newport Beach (Wsnb)
Public Water Service
Sewer at Street
Natural Gas
12 Total
Neighborhood
Room Information
Common
Interior Features
None
Wall Unit
Exterior / Lot Features
3 Garage Spaces, 13 Parking Spaces
Composition
None
No Pool
Suburban
Financial Considerations
04511415
$212,400 Income ,$68,659Expense
Listing Price History

Newport Beach Real Estate

Newport Beach is located in California. Newport Beach, California 92663 has a population of 85,323.

The median household income in Newport Beach, California 92663 is $109,677. The median household income for the surrounding county is $75,566 compared to the national median of $53,046. The median age of people living in Newport Beach 92663 is 43.8 years.

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Courtesy: Berkadia Real Estate Advisors Steven Brombal
The information being provided by California Regional Multiple Listing Service, Inc. (“CRMLS”) is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Any information relating to a property referenced on this web site comes from CRMLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this website. The accuracy of all information is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals. The data contained herein is copyrighted by CRMLS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.
Information is deemed reliable but is not guaranteed.

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