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- LoopNet Team
121 42nd St
Newport Beach, CA 92663
Multifamily Property For Sale
·
2 Units
PROPERTY FACTS
| No. Units | 2 | Building Size | 2,748 SF |
| Property Type | Multifamily | Average Occupancy | 100% |
| Property Subtype | Apartment | No. Stories | 2 |
| Apartment Style | Low-Rise | Year Built | 1964 |
| Building Class | C | Parking Ratio | 0.73/1,000 SF |
| Lot Size | 0.06 AC |
| No. Units | 2 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.06 AC |
| Building Size | 2,748 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1964 |
| Parking Ratio | 0.73/1,000 SF |
AMENITIES
UNIT AMENITIES
- Patio
ABOUT 121 42ND ST , NEWPORT BEACH, CA 92663
Marcus & Millichap, as the exclusive listing agent, is pleased to present the opportunity to acquire 121 42nd Street , a 2-unit multifamily investment property located in Newport Beach, one of the premier coastal housing markets in Southern California. Located in Newport Beach, just steps from Pacific Coast Highway, 121 42nd Street offers residents convenient access to thousands of jobs and major employment hubs in Costa Mesa, Huntington Beach, and other Orange County cities. The property’s prime location will benefit new owners who look to bring the rents up to current market levels. Built in 1964, 121 42nd Street offers investors the opportunity to capitalize on these strong market trends that should increase rental income by approximately 147 percent. Situated on a 0.06-acre lot, the 2,748 square foot property consists of three- and four-bedroom floor plans averaging 1,374 square feet. 121 42nd offers garage parking, large balconies, and direct access to the beach.
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 3+2 | 1 | $1,875 | 1,300 |
| 4+2 | 1 | $1,975 | 1,448 |
PROPERTY TAXES
| Parcel Number | 423-023-16 | Improvements Assessment | $88,506 |
| Land Assessment | $2,917,815 | Total Assessment | $3,006,321 |
PROPERTY TAXES
