Skip To Content
    Return to Previous Page

    127 Agate Avenue

    Newport Beach, CA 92662
    • $1,900,000
    • STATUS: Active Under Contract
    • ON SITE: 70 days
    • ID#: NP20085356
    Under Contract
    UPDATED: 36 min ago
    $1,900,000
    • 0
      BEDS
    • 0.06
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 3,550
      SQFT
    • $535
      $/SQFT
    Type:
    Commercial
    Built:
    1925
    County:

    School Ratings & Info

    Description

    A Historic Landmark "The Balboa Island Hotel" Built-in 1925, by its first owner a local Portuguese fisherman. In the early days, some of the Hollywood studios would rent the entire hotel for the movie stars to stay in while a movie was being made. At that time it had 7 rooms upstairs and a duplex in the back. Over the years the last owner Suzie converted the seven rooms into 4 bedrooms and 2 bathrooms on the second floor and 2 bed 2 baths on the first floor. With over 90 years of history "if walls could talk" we are looking for a new buyer with a vision for this iconic Balboa Island Hotel.Plenty of opportunities to restore the business and make a profit. The duplex in the back was brought over the bridge and onto the Island in 1934.It currently has a Studio leased at $1150 and the 1 bedroom for $1650 a month. The Hotel is located on the same street as the Balboa Island Ferry. Walk to breakfast, lunch, or dinner "501 Park Ave" restaurant also located across the street, and shop at the local market and deli located next to the Ferry, or cross over and spend the day at the Beach in Newport. There is a park with basketball hoops just steps from the Hotel and a very short walk to beaches on the north bayfront and south bayfront.The Balboa Island Hotel needs some love to bring it back to life. A wonderful opportunity for you or someone you know. Priced to sell!

    Monthly Payment Calculator



    Based on information from California Regional Multiple Listing Service, Inc. as of 2020-07-16T12:29:02.817. 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 deemed reliable but is not guaranteed accurate by the MLS or Beach City Brokers | BCB Premier Estates | The Miller Group. Licensed in the State of California, USA.

    www.tolivebythesea.com/homes/105598321
    Print Image

    127 Agate Avenue Newport Beach, CA 92662

    • Price: $1,900,000
    • Status: Active Under Contract
    • Updated: 36 min ago
    • ID#: NP20085356
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.06
    Acres
    3,550
    SQFT
    $535
    $/SQFT
    1925
    Built
    Neighborhood:
    N9 - Lower Newport Bay - Balboa Island
    County:
    Orange
    Area:
    N9 - Lower Newport Bay - Balboa Island
    Property Description
    A Historic Landmark "The Balboa Island Hotel" Built-in 1925, by its first owner a local Portuguese fisherman. In the early days, some of the Hollywood studios would rent the entire hotel for the movie stars to stay in while a movie was being made. At that time it had 7 rooms upstairs and a duplex in the back. Over the years the last owner Suzie converted the seven rooms into 4 bedrooms and 2 bathrooms on the second floor and 2 bed 2 baths on the first floor. With over 90 years of history "if walls could talk" we are looking for a new buyer with a vision for this iconic Balboa Island Hotel.Plenty of opportunities to restore the business and make a profit. The duplex in the back was brought over the bridge and onto the Island in 1934.It currently has a Studio leased at $1150 and the 1 bedroom for $1650 a month. The Hotel is located on the same street as the Balboa Island Ferry. Walk to breakfast, lunch, or dinner "501 Park Ave" restaurant also located across the street, and shop at the local market and deli located next to the Ferry, or cross over and spend the day at the Beach in Newport. There is a park with basketball hoops just steps from the Hotel and a very short walk to beaches on the north bayfront and south bayfront.The Balboa Island Hotel needs some love to bring it back to life. A wonderful opportunity for you or someone you know. Priced to sell!
    Exterior Features

    Lot Features Level With StreetRectangular Lot Lot Size Source Assessor Lot Size Units Square Feet

    Interior Features

    Condo Area Units Square Feet Laundry Features Gas & Electric Dryer HookupInsideUpper LevelWasher HookupWasher Included

    Property Features

    Additional Parcels YN No Asset Class Hotel/Motel Building Area Units Square Feet Building Status Existing Country Us Exclusions Current Business Licence For A Fee Investment Property YN Yes Laundry YN Yes Leasable Area Units Square Feet Max Total Area Units Square Feet Min Total Area Units Square Feet Number Of Units Leased 2 Property Sub Type Hotel/Motel Special Listing Conditions Standard Water Source Public Year Built Source Assessor

    Listing provided courtesy of Kristy Holt of Kristy S. Holt


    Based on information from California Regional Multiple Listing Service, Inc. as of 2020-07-16T12:29:02.817. 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 deemed reliable but is not guaranteed accurate by the MLS or Beach City Brokers | BCB Premier Estates | The Miller Group. Licensed in the State of California, USA.

     
    https://bt-photos.global.ssl.fastly.net/socal/orig_boomver_1_364258755-9.jpg https://bt-photos.global.ssl.fastly.net/socal/orig_boomver_1_364258755-9.jpg https://bt-photos.global.ssl.fastly.net/socal/orig_boomver_1_364258755-9.jpg
    Logo
    Beach City Brokers | BCB Premier Estates | The Miller Group
    1716 South Catalina Avenue
    Redondo Beach CA, 90277