Newport Beach Multifamily Investment
For Sale
$14,000,000
1601 15th Street, Newport Beach, CA 92663
Four apartment buildings with renovation upside in Newport Beach.
Property SizeContact for details
Days on Market480
Property Features for 1601 15th Street
General Information
Standard status
Active
Building Details
Year Built
1975
Listing Agency:
NORTHMARQ REALTY SERVICES, INC
Listed By:
PETER HAUSER
Source:
Corcoran
Added: May 10, 2025
Changed: Mar 16
Last Checked: Mar 16 at 9:09AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of NORTHMARQ REALTY SERVICES, INC
Investment Insights
Based on property information with market context.
Newport Harbor comprises four apartment buildings, each constructed in 1975. The buildings are situated on two separate legal lots and consist of ten units each. The construction is a mix of one and two-story structures featuring an interior central courtyard and individual walk-up design. The roof structures, a mix of pitched composition shingle and metal, were recently replaced in May 2025. The property is gated and includes one laundry room on each lot. Twelve units have been fully renovated, while the remaining eight units offer renovation potential to increase cash flow. The property is individually metered for electric and features a master water heater for each building. Each unit is equipped with central air conditioning and heat. Twelve units include large ground floor patios, while four units feature balconies. The intended use of the property is as apartment buildings, multifamily properties, and residential income properties.
Key Highlights
- Roofs recently replaced (May 2025).
- Twelve units fully renovated.
- Opportunity to increase cash flow by renovating remaining eight units.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,241
Businesses Nearby
Explore this area
Business Placement
Demographics for 92663, CA
20,812
Population
12,348
Households
1.7
Avg Household Size
42
Median Age
64%
College-Educated
97%
High-School Grad
3.3 sq mi
ZIP Area
6,307
Density / Sq Mi
$138,271
Median Household Income
$77,157
Median Earnings
$2,717
Median Rent
$2,000,001
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Four apartment buildings with renovation upside in Newport Beach.
Where is this apartment building located?
The property is located at 1601 15th Street Newport Beach, CA.
What is the asking price?
The asking price for this property is $14,000,000.
What are key features of this property?
This property features: Roofs recently replaced (May 2025).; Twelve units fully renovated.; Opportunity to increase cash flow by renovating remaining eight units.
