Updated Dec 21, 2023
Rick Caruso Acquires Newport Beach SFR For $18.6M With Brokers Rex McKown & Marcy Weinstein - Compass And Gordon Henry - Pacific Sotheby’s International Realty
2102 E Balboa Blvd, Newport Beach, CA, USA
$18,600,000
$2,176/SF
Building Size
8,546 SF
Asset Type
Single Family Residence
Closing
May 6, 2021
About this deal
AI
The recently closed property transaction in Newport Beach involved a single-family residence located at 2102 E. Balboa Blvd. The property spans 8,546 square feet and was sold for a total price of $18,600,000, resulting in a price per square foot of $2,176. This transaction marks a significant sale in the Newport Beach market.
Summary of transaction details
- Property Type: SFR
- Transaction Amount: $18,600,000
- Address: 2102 E. Balboa Blvd., Newport Beach
- Market: Newport Beach
Rick Caruso emerged as the buyer in this transaction, acquiring the property for the aforementioned price. The deal was facilitated by the brokers Rex McKown and Marcy Weinstein from Compass, along with Gordon Henry from Pacific Sotheby’s International Realty. Their expertise in the Newport Beach market contributed to the successful completion of this deal.
On the Map
$18,600,000
$2,176/SF
Single Family Residence
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Newport Beach Single Family Residence Market Snapshot
Boundary boundary · Single Family Residence · Sale transactions
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Deal FAQ
About $2.2K per square foot on a published $18.6M for 8,546 square feet (2021).
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.85%
Cash-on-Cash
-0.24%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93