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111 Via Florence Newport Beach, CA 92663
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Key Details
Sold Price $2,962,500
Property Type Multi-Family
Listing Status Sold
Purchase Type For Sale
Subdivision Lido Island (Lido)
MLS Listing ID OC20251545
Condo Fees $1,532
HOA Fees $127/ann
Year Built 1948
Lot Size 4,356 Sqft
Property Description
BACK ON MARKET - $325,000 Price Reduction. Lido Isle 5 is offered through probate, however no court confirmation is required. The listing Brokers are in direct communication with the trustee overseeing the sale. Beneficiaries are motivated to sell. The building, like may on the Isle, has a very private large courtyard for residents use. Residents have creatively decorated under the upstairs overhang to create quaint outdoor sitting spaces. The property has a Mediterranean-style tile pitched roof and (5) enclosed garages; there are three hot water heaters. The property features (4) large one-bedroom, one-bath residences and (1) two-bedroom, one-bath unit which is upstairs and has a fireplace and separate dinning room. All unit interiors are very spacious and charming. There are vinyl windows throughout the building and each unit has panel ray heat. There is some level of interior upgrades including scrapped ceilings, crown molding, and newer kitchen granite counter top and cabinets. Some unit interiors feature marble tile entry, kitchen and bath flooring. The property and grounds are exceptionally clean and a pride of residency is evident by tenants as well. The building is mastered metered for utilities accentuating that rental rates are extremely low. Ownership has resided in Northern California, and there is a 3rd party management company overseeing the building. As a result, rents are significantly under market. Email the Listing Broker for a Marketing Brochure.
Location
State CA
County Orange
Area N8 - West Newport - Lido
Interior
Heating Wall Furnace
Cooling None
Flooring Carpet, Tile
Fireplaces Type Living Room
Laundry Common Area
Exterior
Garage Door-Multi, Door-Single, Garage, Garage Faces Rear
Garage Spaces 5.0
Garage Description 5.0
Fence Block
Pool None
Community Features Curbs, Fishing, Street Lights, Sidewalks, Water Sports
Building
Lot Description Landscaped
Story Two
Sewer Public Sewer
Water Public
New Construction No
Others
Acceptable Financing Cash, Cash to New Loan
Listing Terms Cash, Cash to New Loan
Special Listing Condition Probate Listing
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Bought with Joshua Rhee • Kidder Mathews of California, Inc