2029 Balboa

2029 Balboa

D

Del Mar, CA 92014

$5,100,000

Beds

5

Baths

5.5

Sqft

5,300

Year Built

Days on Market

23

Property Type

Single Family

HOA/mo

N/A

MLS ID

NDP2601276

Description

Located in one of Del Mar's most greatly desired neighborhoods, this unique offering consists of an elevated, double lot of 18,000 Sq Ft with panoramic ocean and sunset views. Design your own secluded and quiet COASTAL ESTATE. Conceptual drawings envision a new 4500 Sq Ft Residence with 795 Sq Ft ADU, large, attached view decks and pool all perched to maximize the sweeping ocean views. This is an rare opportunity to own a double lot that offers multiple options for development. Existing on property is 1965 midcentury modern. The property is being offered at land value. Homes in this neighborhood have sold for up to $21,000,000.

Mortgage Calculator

Est. Monthly Payment

$32,376

Principal & Interest$25,788
Property Tax$5,100
Insurance$1,487
%($1,020,000)
%

Investment Score

0D
Est. Monthly Rent

Market Rent Estimate

$7,895
Monthly Cashflow

Rent − PITI − HOA

$-24,480
Full Cashflow

Incl. vacancy, PM, maint, capex

$-30,546

Mortgage (P+I)
$25,788
Cap Rate
-1.12%
Cash-on-Cash
-28.80%
DSCR

⚠️ Need ≥ 1.25 for DSCR loan

0.31
Break-even Rent
$32,375

NOI (Annual)
$-57,094
Price-to-Rent

Lower = better for investors

53.8

* Defaults: 20% down, 6.5% rate, 30yr.

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