Waterfront Residential Income
For Sale
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215 E Edgewater, Newport Beach, CA 92661
Newport Beach, CA
Property Size1,183 SF
Lot Size0.04 Acres
Price / SF$10.14
Days on Market151
Property Features for 215 E Edgewater
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
2
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 1, Bathroom 1, Laundry Room, Bathroom 2, Kitchen, Bedroom 2
Parking
1
Pets allowed
Call
Fireplace
1
Subdivision
Balboa Peninsula (Residential) (BALP)
Lot features
0-1 Unit/ Acre
View
Ocean
Elementary school district
Newport Mesa Unified
Middle school district
Newport Mesa Unified
High school district
Newport Mesa Unified
Directions
Balboa Blvd to Coronado to Bay
Standard status
Active
APN
04810208
Size
1,183 SF
Lot size
0.04 Acres
Utilities
Sewer type
Public Sewer
Water source
Public
Building Details
Year built
1947
Floors in Building
2
Number of units
1
Listing Agency:
Arbor Real Estate
(949) 673-7600
Listed By:
Shelly Angel · License #02147705
(714) 345-2801
Added: Jun 1
Changed: Oct 28
Last Checked: Oct 29 at 5:06AM
MLS# NP26133778
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 1,183-square-foot waterfront residence on Balboa Peninsula offers two bedrooms, two bathrooms, and a separate office room. The home was completely remodeled and includes new appliances, full furnishings, a fireplace, and a covered deck oriented toward the sandy beach and bay. A private elevator connects the upper-level living area directly with the garage.
The property includes one garage parking space, bicycle storage, and racks. Public water and public sewer serve the residence. Built in 1947, the home combines a defined residential layout with updated interior improvements and direct waterfront positioning in Newport Beach.
The property includes one garage parking space, bicycle storage, and racks. Public water and public sewer serve the residence. Built in 1947, the home combines a defined residential layout with updated interior improvements and direct waterfront positioning in Newport Beach.
Key Highlights
- 1,183‑square‑foot waterfront residence on Balboa Peninsula
- Two bedrooms, two bathrooms, and a separate office room
- Completely remodeled with new appliances and full furnishings
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$22,580
Suggested Prices Based on Cap Rates
Cap Rate 5%
$451,600
$451.6K
Cap Rate 7%
$322,571
$322.6K
Cap Rate 9%
$250,889
$250.9K
Market Conditions
NOI Build-Up for 1,183 SF
Gross rent
$42.6K $36.00/SF
− Vacancy
−$1.5K −$1.30/SF
EGI
$41.1K $34.70/SF
− OpEx
−$18.5K −$15.62/SF
NOI
$22.6K $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%
$451,600
Cap Rate 7%
$322,571
Cap Rate 9%
$250,889
Alternative Uses
Best Use
Apartment 5plus
$322.6K
$282.3K – $376.3K
NOI $22,580 @ 7.0% cap · market cap 188.17%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$397.3K
$347.7K – $463.6K
NOI $27,814 @ 7.0% cap · market cap 231.78%
Zoning and permitted uses should be independently verified with authorities.
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Location Intelligence
Trade Area within ½ mile
664
Businesses Nearby
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Business Placement
Demographics for 92661, CA
3,457
Population
2,727
Households
1.3
Avg Household Size
48
Median Age
58%
College-Educated
98%
High-School Grad
0.7 sq mi
ZIP Area
4,939
Density / Sq Mi
$209,620
Median Household Income
$135,407
Median Earnings
$2,836
Median Rent
$2,000,001
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - Remodeled two-bedroom home with office, covered deck, and private elevator access.
Where is this residential income property located?
The property is located at 215 E Edgewater Newport Beach, CA.
What are key features of this property?
This property features: 1,183‑square‑foot waterfront residence on Balboa Peninsula; Two bedrooms, two bathrooms, and a separate office room; Completely remodeled with new appliances and full furnishings
