TRUST SALE  –  BALBOA ISLAND  –  NEWPORT BEACH

2 STORY, MIXED USE BUILDING

THURSDAY, OCTOBER 30 @ 10:00 A.M.

SALE AT SITE

BROCHURE #547

MAY BE SUBJECT TO COURT CONFIRMATION

LOCATION:   215 MARINE AVENUE, NEWPORT BEACH, CA 92662  APN 050-162-21

DIRECTIONS:   ON BALBOA ISLAND BETWEEN PARK AVENUE AND BALBOA AVENUE.  SHOW ME A MAP

DESCRIPTION:   RARE OPPORTUNITY TO PURCHASE AN INCOME PRODUCING, MIXED USE BUILDING ON NEWPORT BEACH’S HIGHLY EXCLUSIVE BALBOA ISLAND, ONE OF SOUTHERN CALIFORNIA’S PREMIERE LOCATIONS. LOCATED WALKING DISTANCE TO GOURMET RESTAURANTS AND PREMIERE DINING. MAY BE SUBJECT TO COURT CONFIRMATION. POSSIBLE SEWER LINE ISSUES. BUYER TO VERIFY.

INCOME/EXPENSES:   LEASE, APPRAISAL & INCOME/EXPENSES AVAILABLE UPON REQUEST.

215 MARINE AVENUE  –  UNIT A FRONT FACING REMODELED UNIT. 2 BEDROOMS, 1¾ BATHS. HIGHLIGHTS: STACK WASHER/DRYER HOOKUP. CENTRAL A/C. KITCHEN WITH VIKING STAINLESS STEEL APPLIANCES. UNIT HAD BEEN USED AS A SHORT TERM SEASONAL RENTAL WITHOUT PERMIT. INCOME AND EXPENSES AVAILABLE UPON REQUEST.

215 MARINE AVENUE  –  UNIT B REAR UNIT. VACANT. 1 BEDROOM, 1 BATH. HIGHLIGHTS: KITCHEN WITH STAINLESS STEEL APPLIANCES. UNIT HAD BEEN USED AS A SHORT TERM SEASONAL RENTAL WITHOUT PERMIT. LAUNDRY ROOM WITH SIDE BY SIDE WASHER/DRYER HOOKUP. PAST INCOME AND EXPENSES AVAILABLE UPON REQUEST.

215½ MARINE AVENUE  –  BIKINI ALLEY (STORE FRONT) $4,370 PER MONTH. LEASE AVAILABLE UPON REQUEST.

215 MARINE AVENUE  –  REAL ESTATE OFFICE (FAMILY MEMBER) NO RENT. NO LEASE. 2 CAR ATTACHED GARAGE WITH ALLEY ACCESS.

LOT SIZE:   2,250± SQ. FT.

TAXES:   PROPOSITION 13

RICHARD CUSHMAN TRUST

TERMS:   CASH. BUYER TO OBTAIN OWN FINANCING. FINANCING IS NOT A CONTINGENCY TO THIS SALE. PROPERTY SOLD IN “AS IS” CONDITION WITH NO CONTINGENCIES WHATSOEVER. PROPERTY SOLD SUBJECT TO ACCEPTANCE OR REJECTION BY THE CO-TRUSTEES AND MAY BE SUBJECT TO COURT CONFIRMATION.

ESCROW PERIOD:   45 DAYS OR SOONER

DEPOSIT:   $50,000 CASHIER’S CHECK REQUIRED TO BID. BALANCE OF 10% DEPOSIT BY PERSONAL CHECK. CASHIER’S CHECK SHOULD BE MADE PAYABLE TO FLANS & WEINER, INC.. IN THE EVENT YOUR BID IS REJECTED, DEPOSIT WILL BE REFUNDED WITHOUT INTEREST.

INSPECTIONS:   THURSDAY, OCTOBER 16 & 23 (9:00 A.M.-11:00 A.M.) & HALF HOUR BEFORE AUCTION.

TITLE:   SELLER TO PROVIDE STANDARD TITLE POLICY.

PLEASE CALL FLANS & WEINER, INC. IF YOU HAVE ANY QUESTIONS
REGARDING THIS PROPERTY OR THE AUCTION PROCESS (818) 501-4888.