MLS® ID: PW19173873
4233 Dana Road
Newport Beach, California, 92663 $2,445,000
We are pleased to present a charming 4-unit multi-family property located in Newport Beach, CA. The newly renovated subject property contains one 3-bedroom / 2-bathroom unit, two 2-bedroom / 2-bathroom units, and one 2-bedroom / 1.5-bathroom unit and consists of 4,305 rentable square feet spread throughout a 6,132 square foot lot. This property is stabilized with solid rents but has upside with top of the line furnishes. Owners enjoy the high demand for rentals in a coastal city of Southern California, while tenants enjoy living a short distance to local beaches, shopping, restaurants and nightlife in Newport Beach, Lido Isle, and Downtown Costa Mesa.
Newport Beach is a highly sought after rental market. With a limited rental stock and great demographics. The average household income in Newport Beach is currently $119,379 and even with an average income roughly 40% higher than the Orange County average, renting is still more affordable than buying a home in Newport Beach where the median property value is $1.7 million.