MAGINE FEELING THE OCEAN BREEZE AND OWNING A 100% TURNKEY MIXED-USE PROPERTY WITH BAY VIEWS AND JUST STEPS FROM SOUTH BAY FRONT AND THE BALBOA FERRY! This amazing property has over $250,000 in upgrades and combines vintage Balboa charm on the outside with exquisite European luxury design on the inside. The upper level is a high-end 1,561 square foot residential space with vaulted ceilings, brilliant light, three (3) bedrooms, 2.75 bathrooms, two (2) lofts, and views of the bay from the dining room and deck. With crystal light sconces and custom door fixtures imported from Italy, Terracotta marble countertops in the bathrooms, new copper plumbing throughout, bamboo flooring in the bedrooms and lofts, custom English stairs leading to the lofts, French doors, massive Casablanca ceiling fan, large wrap-around deck, Sub-Zero double door refrigerator, Thermador oven, range and dishwasher, fabulous fireplace and white Italian ceramic flooring, the luxurious design of the upstairs residence is unlike anything else on Balboa Island. The lower level is comprised of two commercial spaces totaling 748 square feet, a separate remodeled 3/4 bathroom with shower and new air conditioning unit. In addition to all this, there are 5 covered parking spaces.
New Balboa Island Listing! Open Tomorrow April 21st
118 Agate Avenue, Balboa Island, CA 92662
This property is perfect for anyone wanting to live the Balboa lifestyle just steps away from the Bay with the benefit of monthly income from the bottom units, or for an investor looking to capitalize on this prime location and mixed use property type. The two commercial spaces are currently leased by the same tenant for a total of $3,200 per month and the upper level residential unit, which is currently vacant, was recently on a long term lease for $7,000 per month. The residential unit can sleep 8-10 people, which could make it ideal for a vacation rental. Pro Forma vacation rental rates for the upper level residence are estimated to be $2,200/week in non-peak months and $4,000/week in peak months. This is truly a premium property that you’ll be proud to own!
Contact agent Chas Patterson for more details or to see the property at 949-295-0610.