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104 Onyx Ave 904 SF Specialty Building Offered at $5,253,357 CAD at a 3.72% Cap Rate in Newport Beach, CA 92662
Investment Highlights
- Fully remodeled duplex featuring high-end finishes and updated interiors.
- Steps from Marine Avenue shops, dining, and top waterfront attractions on Balboa Island.
- Outdoor patio with lush landscaping provides an inviting space for relaxation or entertaining.
- Includes a hard-to-secure, transferable Newport Beach STR permit for strong rental revenue.
- Expansive windows frame scenic bay views, enhancing guest experience and appeal.
- Proven track record as a successful short-term rental in one of Southern California’s most desired locations.
Executive Summary
Discover a rare investment opportunity on Iconic Balboa Island with this fully renovated coastal duplex at 104 Onyx Avenue. Featuring a lower unit (Cottage) and an elevated (Penthouse) Unit, both spaces exhibit thoughtful upgrades and refined finishes while preserving their beachside character. Designed with short-term rental success in mind, the property includes a coveted, transferable Newport Beach STR permit—an increasingly scarce advantage for investors seeking dependable income potential.
Each unit is bright and inviting, with abundant natural light framing serene bay and Catalina views. The property showcases a modernized layout with updated kitchens, stylish baths, ample storage, and coastal-inspired interiors. Guests will enjoy a welcoming front patio surrounded by lush landscaping, offering the perfect setting for al fresco dining or morning coffee. Ideally located just one block from Marine Avenue, occupants are steps from boutique shopping, local cafés, and waterfront activities. This property combines income performance with lifestyle allure, making it an exceptional addition to any portfolio.
Each unit is bright and inviting, with abundant natural light framing serene bay and Catalina views. The property showcases a modernized layout with updated kitchens, stylish baths, ample storage, and coastal-inspired interiors. Guests will enjoy a welcoming front patio surrounded by lush landscaping, offering the perfect setting for al fresco dining or morning coffee. Ideally located just one block from Marine Avenue, occupants are steps from boutique shopping, local cafés, and waterfront activities. This property combines income performance with lifestyle allure, making it an exceptional addition to any portfolio.
Financial Summary (Pro Forma - 2026) |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$291,143
|
$322.06
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$291,143
|
$322.06
|
| Taxes |
$42,748
|
$47.29
|
| Operating Expenses |
$53,116
|
$58.76
|
| Total Expenses |
$95,864
|
$106.04
|
| Net Operating Income |
$195,279
|
$216.02
|
Financial Summary (Pro Forma - 2026)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $291,143 |
| Annual Per SF | $322.06 |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $291,143 |
| Annual Per SF | $322.06 |
| Taxes (CAD) | |
|---|---|
| Annual | $42,748 |
| Annual Per SF | $47.29 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $53,116 |
| Annual Per SF | $58.76 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $95,864 |
| Annual Per SF | $106.04 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $195,279 |
| Annual Per SF | $216.02 |
Property Facts
Amenities
- Waterfront
- Smoke Detector
Fairly walkable
50/100
Exceptionally drivable
90/100
Limited public transit
20/100
Moderately bikeable
70/100
Property Taxes
| Parcel Number | 050-172-10 | Total Assessment | $3,733,971 CAD (2025) |
| Land Assessment | $3,585,608 CAD (2025) | Annual Taxes | $42,748 CAD ($47.29 CAD/SF) |
| Improvements Assessment | $148,362 CAD (2025) | Tax Year | 2026 Payable 2026 |
Property Taxes
Parcel Number
050-172-10
Land Assessment
$3,585,608 CAD (2025)
Improvements Assessment
$148,362 CAD (2025)
Total Assessment
$3,733,971 CAD (2025)
Annual Taxes
$42,748 CAD ($47.29 CAD/SF)
Tax Year
2026 Payable 2026
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104 Onyx Ave
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