Active
887 W 15th Street
Newport Beach CA, 92663
$10,000,000
$640.12 per sqft
Active
15,622 sqft
Condo
Built in 1989
Listed by Tyler Leeson with Marcus & Millichap RE Invest 949-419-3200
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.
OC24086137
MLSⓇ ID
April 30, 2024
Listed
May 10, 2024
Updated
Map
887 W 15th Street
Newport Beach CA, 92663
Interior Features
Total Stories
2
Laundry Description
Common Area
Fireplace
No
Cooling
No
Heating
No
Exterior/Building Features
Lot Size
0.5 Acres
Lot Features
Street Level
Sewer
Public Sewer
Other Property Details
Area Name
N6 - Newport Heights
Days on Market
10
Garage
Yes
Garage Spaces
2
Parking Total
24
View
No
County
Orange
Water Source
Public
Pool
No
Pool Features
None
Buyer Agency Compensation
2%
Listing History
Date | Event | Price |
---|---|---|
5/10/2024 | Active | — |
5/8/2024 | Under Contract | — |
Listing Contact: 949-419-3200
Based on information from the California Regional Multiple Listing Service (CRMLS) as of 5/10/2024. This information 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. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, the Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. Any offer of compensation is made only to participants of the MLS where the listing is filed.
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Data last updated on 5/10/2024 at 10:23 PM UTC