Where: 1111 West BALBOA Blvd, Balboa peninsula, second row to the beach
What: remodeled 2-bedroom front house and a back 1-bedroom rental, built 1938
Sold for: 854'300, short sale, probably all cash
When: Nov 6 2009
Orig. listing price: 1'285'000
Last sale: January 8 2000 for 400'000
Comment: The "real" value for this property with a pretty old house structure is in the land. But regarding the valuable 1 bedroom rental in the back, this house is going to pretty much pay for itself if the owners work well on promoting the rental. Dang, how could I miss this one...
Property Shark estimate 2009: 511'587
see on redfin: http://www.redfin.com/CA/Newport-Beach/1111-W-Balboa-Blvd-92661/home/3236272
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