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Key Details
Sold Price $6,200,000
Property Type Commercial
Sub Type Office
Listing Status Sold
Purchase Type For Sale
Square Footage 11,325 sqft
Price per Sqft $547
MLS Listing ID NP21198106
Sold Date 12/22/21
HOA Y/N No
Year Built 1985
Lot Size 0.380 Acres
Acres 0.38
Property Description
We are pleased to present the opportunity to purchase 471 Old Newport Blvd. Ideally located in Newport Beach, CA this 3 story Class B low rise office building is perfect for an investor looking for a trophy asset or for an owner user who wishes to occupy a portion of the building while generating income from the other tenants. 471 Old Newport Blvd has existing in place rents that are more than 50% below current market on short terms leases offering an investor immense possibilities. This asset offers tremendous upside as a new multi-tenant office project or occupancy by a single tenant/owner user. The irreplaceable location offers close proximity to Hoag Hospital, Fashion Island, Pacific Coast Highway, and all the amenities 17th Street has to offer.
Location
State CA
County Orange
Area N6 - Newport Heights
Rooms
Ensuite Laundry None
Interior
Laundry Location None
Fireplace No
Laundry None
Exterior
Community Features Park
Total Parking Spaces 40
Building
Lot Description Landscaped, NearPark
Story 2
Water Public
Others
Tax ID 42527105
Financing Cash
Special Listing Condition Standard
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Bought with General NONMEMBER • NONMEMBER MRML
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Tracy Thrower Conyers
Broker Associate, JD | License ID: 01712960
Broker Associate, JD License ID: 01712960