6 Upper Newport Plz - Office/Residential FOR SALE


Newport Beach, CA 92660
$4,660,000 USD
714-393-6486
6 Upper Newport Plz, Newport Beach, CA for Sale
$4,660,000 USD
Office/Residential - FOR SALE
1/30
null | 6.5% Cap Rate

6 Upper Newport Plz
Newport Beach, CA 92660


HIGHLIGHTS

  • Combined 14,650± SF of upgraded office space, NOI 300,000 PER YEAR
  • 22 private offices with individual HVAC systems
  • High-end kitchens and break areas
  • Executive-level amenities including humidor and wine storage, Outdoor patios, putting greens, and entertainment features
  • Ample parking and exceptional regional access
  • RECENTLY COMPLETED APPRAISAL IN MARCH 2025 AT $4,960,000,HUGE PRICE REDUCTION BELOW APPRAISED VALUE. $300,000 PROFIT FROM DAY ONE OF PURCHASE!

OVERVIEW

This property was recently appraised at $4,960,000 and is being offered at $4,660,000, giving the buyer $300,000 in equity on day one. At market rents of $3.40 per square foot per month ($40.80 per square foot per year), the pro forma projects a gross income of approximately $598,000 annually, or about $49,800 per month. After factoring in the land lease, operating expenses, and property taxes, the projected NOI is $302,900, equating to a 6.5% cap rate.” This is a rare opportunity to acquire a fully improved, turnkey office campus in one of Southern California’s most prestigious business markets, Newport Beach, Orange County. Spanning two adjoining parcels, the property offers 14,650± square feet of premium office space on a 17,556 square foot lot, blending luxury, functionality, and long-term investment potential. Investors here gain instant equity, strong pro forma returns, and ownership in a trophy coastal market that continues to appreciate. The campus includes a total of 22 private offices, each equipped with individual heating and air conditioning units to ensure comfort and efficiency. Across both buildings, the interiors are extensively upgraded and designed to meet the demands of modern business operations. Features include multiple executive offices, dedicated break rooms, ample storage, and his and hers restrooms. Executive-level touches include a private bathroom, a cigar humidor, and a 240-bottle wine locker. Both buildings are outfitted with high-end kitchens featuring KitchenAid and Samsung appliances, as well as washer/dryer units. Outdoor patios, putting greens, televisions, and power outlets create excellent spaces for entertaining clients or providing employees with space to relax and recharge. The location is another major advantage. The property sits adjacent to the 73 Toll Road and only minutes from the 405 Freeway and John Wayne Airport, offering excellent regional access. It is also close to premier shopping centers and a wide range of dining options, from casual eateries to fine dining establishments. The property is held under a land lease structure with a current monthly lease rate of $18,123. The lease extends through February 2036 and includes extension options. For investors seeking flexibility, the property can also be purchased as two separate parcels: Parcel 21 for $2,310,000 and Parcel 22 for $2,350,000. This is a one-of-a-kind opportunity to own a trophy coastal office campus with immediate built-in equity, strong projected returns, and long-term appreciation potential in Newport Beach. THIS PROPERTY IS ALSO AVAILABLE FOR LEASE. PLEASE REVIEW MY LEASE LISTING. THANKS

FOR SALE DETAILS

PRICE

$4,660,000 USD

PRICE/SF

$265 USD /SF

CAP RATE

6.5%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment Or Owner User

ON GROUND LEASE

Yes

BUILDING DETAILS

PROPERTY NAME

Executive Newport Beach Office.

PROPERTY TYPE

Office

PROPERTY SUBTYPE

Office/Residential

ADD'L SUBTYPES

Loft/Creative Space, Medical, Telecom Hotel/Data Hosting

TOTAL BUILDING SIZE

-

STORIES

2

BUILDING CLASS

B

YEAR BUILT

1980

SPRINKLERS

-

PARKING SPACES

15

LAND DETAILS

LAND ACRES

0.41 AC

LAND SF

17,860 SF

ZONING

PC-11

APN/PARCEL ID

427-231-21,427-231-22

ASK ABOUT THIS PROPERTY

Mikey BenteLuxre RealtyMore Info
714-393-6486

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Mikey BenteLuxre RealtyMore Info
714-393-6486

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.