Newport Beach, CA 92663 1601 E 15th Street
$15,000,000
15 more
Presented By: Peter Hauser with NorthMarq Realty Services, Inc; 949-302-1400
- MLS# OC25100801
- 05/06/2025
Disclaimer: The information contained in this listing has not been verified by Sell Buy OC Homes and should be verified by the buyer.
Beds • 40
Baths • 1
SQFT • 15,080
Garage • 20
Home Details
Newport Harbor consists of four apartment buildings, each constructed in 1975 situated on two separate legal lots consisting of ten units each. Each building is one and two-story construction with interior central courtyard and individual walk-up design. The roof structures are a mix of pitched composition shingle and metal, and were recently replaced in May 2025. The property is gated and features one laundry room on each lot. Twelve units have been fully renovated while the remaining eight can be renovated to increase cash flow. The property is individually metered for electric and features a master water heater for each individual building (4). Each unit features central air conditioning and heat. Twelve units feature large ground floor patios while four units feature balconies.
Presented By: Peter Hauser with NorthMarq Realty Services, Inc; 949-302-1400
Interior Features for 1601 E 15th Street
Other Interior Features
Air Conditioning Y/NNo
Basement (Y/N)No
Common WallsTwoCommonWallsOrMore
Fireplace Y/NNo
Heating Y/NNo
Laundry FeaturesCommonArea
Total Stories2
Other Rooms
Entry Level1
General for 1601 E 15th Street
Additional Parcels Description42524311
Additional Parcels Y/NNo
Attached Garage No
Building Area UnitsSquareFeet
Cap Rate3.08
Carport Y/NNo
CityNewport Beach
Community FeaturesBiking, Fishing, Golf, Park, Sidewalks, WaterSports
CountyOrange
DirectionsLocated off of East 15th Street Across from Newport Harbor High School
Electric Expense30000.0
Electric On Property Y/NNo
Entry Location1
Fuel Expense3260.0
Garage Spaces20.0
Garage Y/NYes
Gross Income738157.0
HOANo
Home Warranty Y/NNo
Insurance Expense16250.0
Land Lease Y/NNo
Lease Considered Y/NNo
Lease Renewal Y/NNo
LevelsTwo
Listing TermsExchange1031
Lot Size Square Feet28270.0
Lot Size UnitsSquareFeet
MLS Area699 - Not Defined
MobileHomeRemainsYNNo
Net Operating Income462248.0
New ConstructionNo
Number Of Units Total20
Operating Expense275910.0
Pool FeaturesNone
Property Attached Y/NYes
Property Sub Type AdditionalApartment
Property SubtypeApartment
Property TypeResidentialIncome
Rent Control Y/NNo
Senior Community Y/NNo
SewerPublicSewer
Special Listing ConditionsStandard
Standard StatusActive
StatusActive
Stories2
Tax Lot4
Trash Expense3000.0
Water Sewer Expense3276.0
Year Built1975
Year Built SourceAssessor
ZoningR-3
Exterior for 1601 E 15th Street
Building Area Total15080.0
Crops Included Y/NNo
Horse Y/NNo
Irrigation Water Rights Y/NNo
Lot FeaturesSixteenToTwentyUnitsAcre
Lot Size Acres0.649
Lot Size Area28270.0
Lot Size SourceAssessor
Number of Buildings4
Number of Separate Electric Meters20
Number of Separate Gas Meters20
Number of Separate Water Meters4
Open Parking Y/NNo
Parking FeaturesGarage
Private PoolNo
SpaNo
Total Parking20.0
Water SourcePublic
Waterfront Y/NNo
Additional Details
Price History
Hal Schlegel
Broker Associate