887 West 15th Street is a 16-unit multifamily investment property in an unparalleled Newport Beach location. Built in 1989, 887 West 15th Street features 16, spacious two-bed/ two-bath apartment homes, each with a private patio or balcony, an individual water heater, and central heating. The property offers amenities including covered and surface parking, storage units, and an on-site laundry facility. With 5 renovated units, 3 partially renovated units, and 2 vacancies at closing, a new owner has the unique opportunity to immediately implement their own comprehensive renovation plan, allowing for significant rental premiums over nonrenovated units. 887 West 15th Street’s Newport Beach location provides residents with easy access to all that the area has to offer. The property’s ideal location provides walkable access to Carden Hall, Pacifica Christian High School, and Coastline College. Additionally, the property is situated just half-a-mile from Hoag Hospital, the top employer in the city with more than 5,000 employees in 2023. Furthermore, residents enjoy the property’s close proximity to the beaches, restaurants, and bars on the Balboa Peninsula. 887 West 15th Street's highly desirable location and floor plans provide an investor with the ability to capture quality tenants seeking a convenient location with access to a wide variety of activities, transportation, and retail amenities. This overall demand for well-located apartments will be a key driver in the continued growth at the property.
DAYS ON MARKET
|
19
|
LAST UPDATED
|
5/10/2024
|
TRACT
|
Newport Heights (NEWH)
|
YEAR BUILT
|
1989
|
COMMUNITY
|
Newport Heights
|
GARAGE SPACES
|
2.0
|
COUNTY
|
Orange
|
STATUS
|
Active
|
PROPERTY TYPE(S)
|
Residential Income
|
|
|
AREA |
Newport Heights |
BUYER'S BROKERAGE COMPENSATION |
2.000 % |
GARAGE |
Yes |
HOA DUES |
0 |
LOT |
0.5 acre(s) |
LOT DESCRIPTION |
Street Level |
POOL DESCRIPTION |
None |
SEWER |
Public Sewer |
STORIES |
2 |
SUBDIVISION |
Newport Heights (NEWH) |
WATER |
Public |
We respect your online privacy and will never spam you. By submitting this form with your telephone number
you are consenting for Michael
Stark to contact you even if your name is on a Federal or State
"Do not call List".
Listed with Marcus & Millichap RE Invest
The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable copyright laws. Information provided is for viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and CRMLS and its affiliates do not warrant or guarantee such accuracy. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional.
Based on information from California Regional Multiple Listing Service, Inc. as of 5/19/24 3:29 AM PDT and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information
This IDX solution is (c) Diverse Solutions 2024.
Save favorite listings, searches, and get the latest alerts
Save your favorite listings, searches, and receive the latest listing alerts