887 West 15th Street is a 16-unit multifamily investment property in an unparalleled Newport Beach location. Built in 1989, 887 West 15th Street features 16, spacious two-bed/ two-bath apartment homes, each with a private patio or balcony, an individual water heater, and central heating. The property offers amenities including covered and surface parking, storage units, and an on-site laundry facility. With 5 renovated units, 3 partially renovated units, and 2 vacancies at closing, a new owner has the unique opportunity to immediately implement their own comprehensive renovation plan, allowing for significant rental premiums over nonrenovated units. 887 West 15th Street’s Newport Beach location provides residents with easy access to all that the area has to offer. The property’s ideal location provides walkable access to Carden Hall, Pacifica Christian High School, and Coastline College. Additionally, the property is situated just half-a-mile from Hoag Hospital, the top employer in the city with more than 5,000 employees in 2023. Furthermore, residents enjoy the property’s close proximity to the beaches, restaurants, and bars on the Balboa Peninsula. 887 West 15th Street's highly desirable location and floor plans provide an investor with the ability to capture quality tenants seeking a convenient location with access to a wide variety of activities, transportation, and retail amenities. This overall demand for well-located apartments will be a key driver in the continued growth at the property.
Property Details
Property Features
Property Information:
Year Built: 1989
Stories: 2
Listing Office:
Office Name: Marcus & Millichap RE Invest
Office Phone: (714) 713-9086
Listing Agent: Tyler Leeson
Exterior Features
Exterior Information:
Private Pool: No
Parking Information:
Garage Space: 2 spaces
Lot Features
Lot Information:
Lot Size: 0.50 Acres
School Info
Assigned Schools Information:
Newport Harbor High School, Public District Grades 9-12
Horace Ensign Intermediate School, Public District Grades 7-8
Newport Heights Elementary School, Public District Grades KG-6
Other
Directions Information:
Directions: Cross Streets of West 15th & Monrovia Avenue
Price Information
Listing Price Info
Price Summary:
List Price: $10,000,000
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Housing Market Comparison
See how this home compares to others in Newport Beach, CA.
This property is $6.6M more than the Median Sold Price in Newport Beach, CA.
Based on homes sold in the last 12 months
MLS Details
MLS Information:
MLS Name: CRMLS
MLS Number: #OC24086137
Listing Office:
Office Name: Marcus & Millichap RE Invest
Office Phone: (714) 713-9086
Listing Agent: Tyler Leeson
Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. The data contained herein is copyrighted by CRMLS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.
The information being provided by California Regional Multiple Listing Service, Inc. (“CRMLS”) is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Any information relating to a property referenced on this web site comes from CRMLS. Properties may or may not be listed by the office/agent presenting the information. Real estate listings held by brokerage firms other than this broker are marked with the Internet Data Exchange logo and detailed information about them includes the names of the listing brokers and listing agents. MLS search engine provided by IHR Technology Services. This data is updated every 2 hours. Some properties appearing for sale on this display may subsequently have sold and may no longer be available. Data displayed may be a portion of, and not a complete set of all listings published in the MLS. Last updated on: 5/15/2024, 2:20:42 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
Property Sales & Tax
We're sorry, we currently don't have sales or tax history data for this listing.
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Schools
Schools Nearby
The school rating is a score out of 10, where 10 is the highest and 1 is the lowest. Assigned schools have a bold outline.
Elementary School
7
/10
Newport Heights Elementary School
300 E 15th St
Distance between this listing and this school0.92 miles
Public District Grades KG-6
Middle School
8
/10
Horace Ensign Intermediate School
2000 Cliff Dr
Distance between this listing and this school1.28 miles
Public District Grades 7-8
High School
7
/10
Newport Harbor High School
600 Irvine Ave
Distance between this listing and this school1.36 miles
Public District Grades 9-12
Assigned Schools
7
/10
Newport Heights Elementary School
300 E 15th St
Distance between this listing and this school0.92 miles
Public District Grades KG-6
Nearby Schools
4
/10
Whittier Elementary School
1800 Whittier Ave
Distance between this listing and this school0.84 miles
Public District Grades KG-6
5
/10
Pomona Elementary School
2051 Pomona Ave
Distance between this listing and this school1.49 miles
Public District Grades KG-6
Assigned Schools
8
/10
Horace Ensign Intermediate School
2000 Cliff Dr
Distance between this listing and this school1.28 miles
Public District Grades 7-8
Nearby Schools
7
/10
Isaac L. Sowers Middle School
9300 Indianapolis Ave
Distance between this listing and this school2.98 miles
Public District Grades 6-8
8
/10
Talbert (Samuel E.) Middle School
9101 Brabham Dr
Distance between this listing and this school4.10 miles
Public District Grades 6-8
Assigned Schools
7
/10
Newport Harbor High School
600 Irvine Ave
Distance between this listing and this school1.36 miles
Public District Grades 9-12
Nearby Schools
6
/10
Estancia High School
2323 Placentia Ave
Distance between this listing and this school2.08 miles
Public District Grades 9-12
9
/10
Edison High School
21400 Magnolia St
Distance between this listing and this school2.55 miles
The neighbors living near this home have an average income of $76,825. The most common annual income of people living in Newport Beach, CA is between $35k-100k. Typical family type is single, no kids. Typical level of education for residents in this area is post secondary degree.
All data provided by Home Junction and Claritas
Frequently Asked Questions About 887 W 15th St
What is the listing price of this property?
The listing price of 887 W 15th St property is $10,000,000.
What type of property is this?
The property 887 W 15th St is a condo located in Newport Beach, California, 92663.
Is this property for sale now?
Active Listing: 887 W 15th St is For Sale (Active/New) which means the seller is accepting offers.
What are the assigned schools for this property?
The assigned schools for 887 W 15th St are: Newport Heights Elementary School: GreatSchools Rating 7/10Horace Ensign Intermediate School: GreatSchools Rating 8/10Newport Harbor High School: GreatSchools Rating 7/10
Which year was this property built?
The year of construction for 887 W 15th St is 1989.
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This home is located at 887 W 15th St in Newport Beach, CA and zip code 92663. This home, which was built in 1989, sits on a 0.50 acre lot. It has been listed on Rocket Homes since April 30, 2024 and is currently priced at $10,000,000.
While more than 14 listings in Newport Beach, CA in April 2024 were sold above asking price, there were more than 17 listings sold at asking price, and more than 57 were sold below. In April 2024 in Newport Beach, CA there were 11.2% more homes for sale than in March 2024. In April 2024, listings were on the market for 51 days. During the same period, the median list price in this real estate market was $3,356,190.
From Rocket Homes Real Estate and based on county public records data.
Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. The data contained herein is copyrighted by CRMLS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. 
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