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303 Main Street

Newport Beach, CA 92661

– beds
– baths
– sqft
6,534 sqft lot
1913 build
– on site

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PROBATE SALE. This is an absolute generational opportunity. Property is at Main Street and Edgewater Place - basically on Newport Harbor and directly adjacent to the iconic Balboa Pavilion - Harborside Restaurant, the Catalina Flyer, Fun Zone and the Balboa Ferry, and a quick stroll to Balboa Pier. The building consists of 12 apartment units above 5 retail spaces. The 12 upstairs residential units are accessed by a wide common interior staircase located at the front of the building at Main Street. All units have unbelievable bay views and one unit has a deck sitting atop the Harbor. Some of these residential units are compact micro-style, and others are spacious - all are very livable. The interior common area, along with the expansive deck space, can be highly upgraded to create a secure home feeling. Residential rents are well below market and can be increased dramatically - low rent is $735, high is $1,650; and they are master metered for utilities. There is approximately 4,566 square feet of retail space on the ground floor configured in 5 retail spaces which services the year-round tourist traffic at the famous Newport Beach Fun Zone in the heart of the Balboa Village. With appropriate property renovations, this opportunity is an incredible value-add play where the astute investor can experience a 4.31% cap in-place and an above market yield of 5.77% potentially going forward for a coastal asset of this kind. Court Confirmation is possible -

Listed By CRMLS_CA / Steven Brombal / Kidder Mathews of California

Last checked: Checking… • Last updated Mar 23, 2025 •

MLS# OC19072633 —

The Building

Year Built:

1913
Year Built Source:

Assessor
New Construction:

No
Construction Materials:

Brick, Concrete
Building Area Total:

11109.00
Building Area Units:

Square Feet
Total Number Of Units:

17
# of Buildings:

1
Roof:

Flat, Other
Foundation:

Slab
Exterior Features:

Awning(s)
Stories Total:

2
Common Walls:

2+ Common Walls
# of Separate Gas Meters:

2
# of Separate Water Meters:

1
# of Separate Electric Meters:

2

Interior

Levels:

Two
Window Features:

Wood Frames
Flooring:

Carpet, Tile
Room Type:

All Bedrooms Up, Center Hall, Foyer
Laundry:

Community
Laundry:

1

Location

Directions:

Balboa Blvd to Main Street
Latitude:

33.60258300
Longitude:

-117.89924600

The Property

Subtype:

Commercial/Residential
Property Condition:

Fixer, Repairs Cosmetic
Lot Features:

Corner Lot, Level with Street, Zero Lot Line
Lot Size Area:

6534.0000
Lot Size Acres:

0.1500
Lot Size SqFt:

6534.00
Lot Size Source:

Assessor
View:

1
View:

Bay, Harbor, Marina, Panoramic, See Remarks
Fencing:

None
Fence:

No
Security Features:

Smoke Detector(s)
Road Frontage:

City Street
Road Surface Type:

Paved
Property Attached:

1
Additional Parcels:

No
Land Lease:

No

Listing Agent

Contact info:

Taxes

Tax Census Tract:

628.00

The Listing

Special Listing Conditions:

Probate Listing
Parcel Number:

04813317

Heating & Cooling

Heating:

1
Heating:

Wall Furnace
Cooling:

No
Cooling:

None

Utilities

Utilities:

Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected
Sewer:

Public Sewer
Water Source:

Public

Appliances

Appliances:

Free-Standing Range, Gas Range
Included:

Yes

The Community

Subdivision:

Balboa Peninsula (Residential) (BALP)
Subdivision:

Balboa Peninsula (Residential) (BALP)
Features:

Sidewalks, Storm Drains, Street Lights, Urban
Pool:

None
Waterfront Features:

Bay Front
Senior Community:

No
Private Pool:

No
Spa Features:

None
Assessments:

Special Assessments, Buyer to Assume, Buyer to Verify

Parking

Parking:

No
Parking:

None

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Sale history

Date	Event	Source	Price	% Change
5/21/19 May 21, 2019	Sold	CRMLS_CA	$5,700,000	5.7%
5/15/19 May 15, 2019	Pending	CRMLS_CA	$5,395,000
4/22/19 Apr 22, 2019	Sold Subject To Contingencies	CRMLS_CA	$5,395,000

Multifamily Sold on 5/21/2019

$5,700,000

Listing provided by broker:

Steven Brombal

Kidder Mathews of California

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Listing Courtesy of: CRMLS_CA and Kidder Mathews of California. Based on information from California Regional Multiple Listing Service, Inc. as of 07:24 on Apr 04.

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, 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.

303 Main Street

Newport Beach, CA 92661