Five-Bedroom Residential
For Sale
Contact for pricing
131 Opal Ave, Newport Beach, CA 92662
Newport Beach, CA
Property Size1,500 SF
Lot Size0.06 Acres
Price / SF$4.13
Days on Market12
Property Features for 131 Opal Ave
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
5
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 2, Bedroom 2, Bedroom 3, Laundry Room, Bedroom 4, Bathroom 1, Bedroom 1, Bedroom 5
Parking
1
Pets allowed
Yes
Fireplace
1
Subdivision
Balboa Island - Main Island (BALM)
Lot features
Paved
Elementary school district
Newport Mesa Unified
Middle school district
Newport Mesa Unified
High school district
Newport Mesa Unified
Directions
Cross street Park Ave and Collins Ave
Standard status
Active
Size
1,500 SF
Lot size
0.06 Acres
Utilities
Sewer type
Public Sewer
Water source
Public
Amenities
beamed cathedral ceilings
gas fireplace
granite countertops
ceiling fans
in-unit laundry
Building Details
Year built
1971
Floors in Building
2
Number of units
2
Listing Agency:
Real Estate Establishment Inc.
Listed By:
Scott Drennen · License #02184283
(714) 744-5711
Added: Oct 6
Changed: Oct 17
Last Checked: Oct 17 at 2:06PM
MLS# PW26217434
Copyright © 2026 California Regional Multiple Listing Service, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
This 1,500-square-foot upper-level residence at 131 Opal Ave has five bedrooms and two bathrooms. Interior features include beamed cathedral ceilings, solid-surface flooring, a gas fireplace, and an open kitchen with granite counters, refaced cabinetry, and a newer cooktop. Both bathrooms have tiled showers and granite counters. Laundry is located in the unit; a one-car garage is shared. The home is offered unfurnished for a 12-month lease.
Built in 1971, the property sits on a 0.06-acre lot on Balboa Island. The shoreline and island ferry are nearby.
Built in 1971, the property sits on a 0.06-acre lot on Balboa Island. The shoreline and island ferry are nearby.
Key Highlights
- Five bedrooms and two bathrooms in 1,500 square feet
- Upper‑level residence with beamed cathedral ceilings and a gas fireplace
- Kitchen features granite counters, refaced cabinets, and a newer cooktop
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$28,631
Suggested Prices Based on Cap Rates
Cap Rate 5%
$572,620
$572.6K
Cap Rate 7%
$409,014
$409.0K
Cap Rate 9%
$318,122
$318.1K
Market Conditions
NOI Build-Up for 1,500 SF
Gross rent
$54.0K $36.00/SF
− Vacancy
−$1.9K −$1.30/SF
EGI
$52.1K $34.70/SF
− OpEx
−$23.4K −$15.62/SF
NOI
$28.6K $19.09/SF
Area
Orange County, CA
Vacancy
3.60%
Lease Rate
$36.00 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$572,620
Cap Rate 7%
$409,014
Cap Rate 9%
$318,122
Alternative Uses
Best Use
Apartment 5plus
$409.0K
$357.9K – $477.2K
NOI $28,631 @ 7.0% cap · market cap 462.16%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$503.8K
$440.8K – $587.8K
NOI $35,267 @ 7.0% cap · market cap 569.28%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
1,049
Businesses Nearby
Explore this area
Business Placement
Demographics for 92662, CA
2,490
Population
1,869
Households
1.3
Avg Household Size
60
Median Age
68%
College-Educated
100%
High-School Grad
0.2 sq mi
ZIP Area
12,450
Density / Sq Mi
$162,045
Median Household Income
$83,322
Median Earnings
$2,736
Median Rent
$2,000,001
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Frequently Asked Questions
What type of property is this?
Residential income property - Upper-level home includes an updated kitchen, two refreshed bathrooms, and laundry within the unit.
Where is this residential income property located?
The property is located at 131 Opal Ave Newport Beach, CA.
What are key features of this property?
This property features: Five bedrooms and two bathrooms in 1,500 square feet; Upper‑level residence with beamed cathedral ceilings and a gas fireplace; Kitchen features granite counters, refaced cabinets, and a newer cooktop
