Newport Harbor is a unique 20-unit apartment property situated on two separate legal parcels in the city of Newport Beach, California. This is a historically rare opportunity to acquire a legacy asset of this size, located in one of the most prestigious coastal submarkets in the country. Below market assumable financing is available. The property has undergone a full renovation on 12 of the 20 units, including vinyl-plank flooring, new cabinets, stainless steel appliances, recessed lighting, quartz countertops and fully upgraded bathrooms. A buyer can capture the embedded loss-to-lease of over $585 per unit by continuing the current renovation plan and improving day to day operations. Newport Harbor is the perfect multi-family investment opportunity with projected long-term market stability, positive rental growth fundamentals, tax, and appreciation benefits.