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HomeMy WebLinkAboutPA2023-0032_20230202_Preliminary Title ReportPage 1 Date:02/02/2023 Property:2209 W BALBOA BLVD, NEWPORT BEACH, CA 92663-4333 APN:047-143-30 County:ORANGE Page 2 Property Details Report Subject Property Location Report Date: 02/02/2023 Property Address 2209 W BALBOA BLVD Order ID: R106084411 City, State & Zip NEWPORT BEACH, CA 92663-4333 County ORANGE COUNTY Property Use Commercial Building, Mail Order, Show Room (non-auto), Commercial Whse Mailing Address 22917 PACIFIC COAST HWY STE 300A, MALIBU, CA 90265-4959 Parcel Number 047-143-30 Census Tract 0635.00 Latitude 33.609837 Thomas Bros Pg-Grid Longitude -117.929138 Legal Description Details Lot Number: 9-15 Block: 22 Subdivision Name: NEWPORT BEACH Tract No: 512 Brief Description: A TR NEWPORT BEACH CITYBLK 22 LOT 9 NEWPORT BEACH CITY LOT 9 BLK 22 AND LOTS 10-15 Current Ownership Information *Source of Ownership data: Assessment Data Primary Owner Name(s)AMERICAN COMMERCIAL EQUITIES 3 LLC Vesting Company Latest Full Sale Information Primary Owner Name(s)2209 NEWPORT PLAZA LLC, Sale Price $2,589,000 Sale Date 03/21/2005 Recording Date 07/29/2005 Vesting Recorder Doc #2005000592507 Book/Page Financing Details at Time of Purchase 1 Loan Amount $2,400,000 Origination Lender Name STERLING BANK & TRUST FSB Loan Type Commercial Loan Recording Doc #2005000592508 Property Characteristics Bedrooms Year Built 1953 Living Area (SF)2,650 Bathrooms/Partial Garage/No. of Cars Price ($/SF)$977/SF Total Rooms Stories/Floors 1 Story Lot Size (SF/AC)16,980/.39 Construction Type No. of Units 4 Fireplace Exterior Walls No. of Buildings Pool Roof Material/Type Basement Type/Area Heat Type Foundation Type Style A/C Property Type Commercial View Elevator Land Use Commercial Building, Mail Order, Show Room (non-auto), Commercial Whse Zoning Assessment & Taxes Assessment Year 2022 Tax Year 2022 Tax Exemption Total Assessed Value $8,182,299 Tax Amount $88,424.20 Tax Rate Area 7-001 Land Value $6,629,242 Tax Account ID Improvement Value $1,553,057 Tax Status No Delinquency Found Improvement Ratio 18.98%Delinquent Tax Year Total Value Market Improvement Value Market Land Value Market Value Year Lien History Trans. ID Recording Date Lender Amount Purchase Money 1 12/24/2012 THE LINCOLN NATIONALLIFE INSURANCE CO $47,244,000 NO 2 07/29/2005 STERLING BANK & TRUSTFSB $2,400,000 YES Loan Officer Insights Page 3 No details available Page 4 Comparables Report - Quick View Subject Property Location Report Date: 02/02/2023 Property Address 2209 W BALBOA BLVD Order ID: R106084412 City, State & Zip NEWPORT BEACH, CA 92663-4333 County: ORANGE Comparable Sales 1 Comps Pin Sale Type Address Record Date Sale Price S/SF Living SF Rm Bd Ba Year Lot SF Pool Dist SUBJECT PROPERTY 08/04/2006 $977 2,650 0 1953 16,980/.39 1 2332 W COAST HWY 11/10/2022 $3,000,000 $629 4,770 0 1982 23,091/.53 Area Sales Analysis Total Area Sales/ Count $3,000,000/ 1 Median # of Baths NaN Median Lot Size (SF/AC)23,091 /.53 Price Range - 2 years $3,000,000 - $3,000,000 Median # of Bedrooms Median Year Built 1982 Age Range 41 - 41 Median Living Area (SF)4,770 Median Value $3,000,000 Median Age 41 Median Price ($/SF)$629/SF Page 5 Transaction History Report - Detailed View Subject Property Location Report Date: 02/02/2023 Property Address 2209 W BALBOA BLVD Order ID: R106084413 City, State & Zip NEWPORT BEACH, CA 92663-4333 County ORANGE COUNTY Property Use Commercial Building, Mail Order, Show Room (non-auto), Commercial Whse Mailing Address 22917 PACIFIC COAST HWY STE 300A, MALIBU, CA 90265-4959 Parcel Number 047-143-30 Transaction Summary Trans ID Recording Date Document Type Document Description Sale Price / Loan Amount Document Number Buyer / Borrower Seller 1 12/24/2012 Mortgage Commercial Loan $47,244,000 2012000797035 AMERICAN COMMERCIAL EQUITIES THREE LLC 2 03/19/2007 Release Substitution of Trustee and Full Reconveyance $2,400,000 2007000172909 2209 NEWPORT PLAZA LLC 3 08/04/2006 Deed Grant Deed 2006000523493 AMERICAN COMMERCIAL EQUITIES THREE LLC 2209 NEWPORT PLAZA LLC; POTOMA, MICHAEL;THE POTOMA FAMILY TRUST; POTOMA, EVELYNM 4 07/29/2005 Mortgage Commercial Loan $2,400,000 2005000592508 2209 NEWPORT PLAZA LLC 5 07/29/2005 Deed Grant Deed $2,589,000 2005000592507 2209 NEWPORT PLAZA LLC URSINI, FRANCIS; URSINI, KAREN A; THE URSINI FAMILY TRUST 6 01/27/2005 Release Release of Mortgage $125,780 2005000069327 NEWPORT PLAZA 7 02/07/2003 Deed Grant Deed 2003000148290 POTOMA, MICHAEL;POTOMA, EVELYN; THE POTOMA FAMILY TRUST;THE URSINI FAMILY TRUST; URSINI, FRANCIS;URSINI, KAREN A NEWPORT PLAZA 8 01/12/2000 Mortgage Commercial Loan $125,780 20000022109 NEWPORT PLAZA 9 10/20/1998 Mortgage Commercial Loan $275,000 19980707477 NEWPORT PLAZA Transaction History Legend Transfer Mortgage Mortgage Assignment Foreclosure Activity Mortgage Release Transaction Details Mortgage Transaction ID 1 Recorder Doc Number 2012000797035 Recorder Book/Page Mortgage Date 12/20/2012 Document Type Mortgage Rate ChangeFreq Loan Amount $47,244,000 DocumentDescription Commercial Loan 1st PeriodicFloor Rate Loan Type Commercial Loan Recording Date 12/24/2012 1st Periodic Cap Rate Origination Lender Name THE LINCOLN NATIONAL LIFE INSURANCE CO Origination Interest Rate Lifetime Cap Rate Origination Lender Type Not Known First Rate Change Date Change Index Type Financing Maturity Date IO Period Borrower 1 AMERICAN COMMERCIAL EQUITIES THREE LLC Balloon Rider Prepayment Penalty Rider Borrower 2 Fixed/Step Rate Rider Prepayment Penalty Term Additional Borrowers Adj Rate Rider Adj Rate Index Vesting Page 6 Mortgage Release Transaction ID 2 Recorder Doc Number 2007000172909 Loan Amount $2,400,000 Effective Date Document Type Release Origination Doc #2005000592508 Borrower(s) Name 2209 NEWPORT PLAZA LLC Document Description Substitution of Trustee and Full Reconveyance Origination Recording Date 07/29/2005 Current Lender STERLING BANK AND TRUST Recording Date 03/19/2007 Original Lender STERLING BANK & TRUST FSB Transfer Transaction ID 3 Recorder DocNumber 2006000523493 Partial InterestTransferred Transfer Date 07/18/2006 Document Type Deed Type of Transaction Non Arms-Length Transfer Sale Price Document Description Grant Deed Multiple APNs on Deed Recorder Book/Page Recording Date 08/04/2006 Property Use Buyer 1 AMERICAN COMMERCIAL EQUITIES THREE LLC Buyer 1 Entity Company or Corporation Buyer Vesting Buyer 2 Buyer 2 Entity Buyer Mailing Address 23805 STUART RANCH RD STE 220, MALIBU, CA90265-4897 Seller 1 2209 NEWPORT PLAZA LLC Seller 1 Entity Company or Corporation Seller MailingAddress Seller 2 POTOMA, MICHAEL Seller 2 Entity Trustee or Conservator Legal City/Muni/ Township NEWPORT BEACH Legal Recorder's Map Ref MP3 PG26 Legal Subdivision NEWPORT BEACH Legal Section/ Twn/ Rng/ Mer Legal Brief Description/ Unit/ Phase/ Tract Title Company Name FIDELITY NATIONAL TITLE CO Mortgage Transaction ID 4 Recorder DocNumber 2005000592508 RecorderBook/Page Mortgage Date Document Type Mortgage Rate Change Freq Loan Amount $2,400,000 Document Description Commercial Loan 1st Periodic Floor Rate Loan Type Commercial Loan Recording Date 07/29/2005 1st Periodic Cap Rate Origination Lender Name STERLING BANK & TRUST FSB Origination Interest Rate Lifetime Cap Rate OriginationLender Type Not Known First RateChange Date Change Index Type Financing Maturity Date IO Period Borrower 1 2209 NEWPORT PLAZA LLC Balloon Rider Prepayment Penalty Rider Borrower 2 Fixed/Step Rate Rider Prepayment Penalty Term AdditionalBorrowers Adj Rate Rider Adj Rate Index Vesting Transfer Transaction ID 5 Recorder DocNumber 2005000592507 Partial InterestTransferred Sale Date 03/21/2005 Document Type Deed Type of Transaction Non Residential Transfer Sale Price $2,589,000 Document Description Grant Deed Multiple APNs on Deed Recorder Book/Page Recording Date 07/29/2005 Property Use Buyer 1 2209 NEWPORT PLAZA LLC Buyer 1 Entity Company or Corporation Buyer Vesting Buyer 2 Buyer 2 Entity Buyer Mailing Address 1305 ANTIGUA WAY,NEWPORT BEACH, CA 92660-4913 Seller 1 URSINI, FRANCIS Seller 1 Entity Trustee or Conservator Seller Mailing Address Page 7 Seller 2 URSINI, KAREN A Seller 2 Entity Trustee or Conservator Legal City/ Muni/ Township NEWPORT BEACH Legal Recorder'sMap Ref MP3 PG26 LegalSubdivision NEWPORT BEACH Legal Section/Twn/ Rng/ Mer Legal Brief Description/ Unit/ Phase/Tract Title CompanyName STEWART TITLE COMPANY Mortgage Release Transaction ID 6 Recorder Doc Number 2005000069327 Loan Amount $125,780 Effective Date Document Type Release Origination Doc#20000022109 Borrower(s)Name NEWPORT PLAZA DocumentDescription Release of Mortgage OriginationRecording Date 01/12/2000 Current Lender FIRST AMERICAN TITLEINSURANCE COMPANY, A CORPORATION ASTRUSTEE Recording Date 01/27/2005 Original Lender MARCIA ANN KFOURY TRUST Transfer Transaction ID 7 Recorder Doc Number 2003000148290 Partial Interest Transferred Transfer Date 02/03/2003 Document Type Deed Type of Transaction Non Arms-Length Transfer Sale Price DocumentDescription Grant Deed Multiple APNs onDeed RecorderBook/Page Recording Date 02/07/2003 Property Use Buyer 1 POTOMA, MICHAEL Buyer 1 Entity Trustee or Conservator Buyer Vesting Tenants in Common Buyer 2 POTOMA, EVELYN Buyer 2 Entity Trustee or Conservator Buyer Mailing Address 2233 W BALBOA BLVD, NEWPORT BEACH, CA92663-4333 Seller 1 NEWPORT PLAZA Seller 1 Entity Partnership Seller MailingAddress Seller 2 Seller 2 Entity Legal City/ Muni/ Township NEWPORT BEACH Legal Recorder's Map Ref MP3 PG26 Legal Subdivision NEWPORT BEACH Legal Section/ Twn/ Rng/ Mer Legal Brief Description/ Unit/ Phase/ Tract Title Company Name Mortgage Transaction ID 8 Recorder Doc Number 20000022109 Recorder Book/Page Mortgage Date Document Type Mortgage Rate Change Freq Loan Amount $125,780 Document Description Commercial Loan 1st Periodic Floor Rate Loan Type Commercial Loan Recording Date 01/12/2000 1st Periodic Cap Rate OriginationLender Name MARCIA ANN KFOURYTRUST OriginationInterest Rate Lifetime CapRate OriginationLender Type Private Party First RateChange Date Change Index Type Financing Maturity Date IO Period Borrower 1 NEWPORT PLAZA Balloon Rider Prepayment Penalty Rider Borrower 2 Fixed/Step RateRider PrepaymentPenalty Term AdditionalBorrowers Adj Rate Rider Adj Rate Index Vesting Mortgage Transaction ID 9 Recorder Doc Number 19980707477 Recorder Book/Page Mortgage Date Document Type Mortgage Rate Change Freq Loan Amount $275,000 Document Description Commercial Loan 1st Periodic Floor Rate Loan Type Commercial Loan Recording Date 10/20/1998 1st Periodic Cap Rate Page 8 Origination Lender Name PATRICK W HANIFIN Origination Interest Rate Lifetime Cap Rate OriginationLender Type Private Party First RateChange Date Change Index Type Financing Maturity Date IO Period Borrower 1 NEWPORT PLAZA Balloon Rider Prepayment Penalty Rider Borrower 2 Fixed/Step Rate Rider Prepayment Penalty Term AdditionalBorrowers Adj Rate Rider Adj Rate Index Vesting Page 9 Nearby Neighbors Report Subject Property Location Report Date: 02/02/2023 Property Address 2209 W BALBOA BLVD Order ID: R106084414 City, State & Zip NEWPORT BEACH, CA 92663-4333 County ORANGE COUNTY Property Use Commercial Building, Mail Order, Show Room (non-auto), Commercial Whse Mailing Address 22917 PACIFIC COAST HWY STE 300A, MALIBU, CA 90265-4959 Parcel Number 047-143-30 Subject Property Address 2209 W BALBOA BLVD, NEWPORT BEACH, CA 92663 APN 047-143-30 Owner AMERICAN COMMERCIAL EQUITIES 3 LLC Lot Size (SF/AC)16,980/.39 Bedrooms 0 Year Built 1953 Living Area (SF)2,650 Bathrooms/Partial Garage/No. of Cars Phones Nearby Neighbor #1 Address 2205 W BALBOA BLVD, NEWPORT BEACH, CA 92663 APN 047-143-31 Owner HILL RUSH N II & LINDA B Lot Size (SF/AC)4,855/.11 Bedrooms 0 Year Built Living Area (SF)0 Bathrooms/Partial Garage/No. of Cars Phones Nearby Neighbor #2 Address 115 22ND ST, NEWPORT BEACH, CA 92663 APN 047-143-32 Owner HILL RUSH N II & LINDA B Lot Size (SF/AC)9,478/.22 Bedrooms 0 Year Built Living Area (SF)0 Bathrooms/Partial Garage/No. of Cars Phones Nearby Neighbor #3 Address 115 23RD ST, NEWPORT BEACH, CA 92663 APN 047-142-22 Owner 2306 W OCEANFRONT LLC Lot Size (SF/AC)4,988/.11 Bedrooms 0 Year Built 1902 Living Area (SF)3,178 Bathrooms/Partial Garage/No. of Cars Phones Nearby Neighbor #4 Address 119 23RD ST, NEWPORT BEACH, CA 92663 APN 047-142-23 Owner PALM SPRINGS VILLAGE 309 LLC,Lot Size (SF/AC)3,562/.08 Bedrooms 9 Year Built 1912 Living Area (SF)2,440 Bathrooms/Partial 2 Garage/No. of Cars Phones Nearby Neighbor #5 Address 125 23RD ST, NEWPORT BEACH, CA 92663 APN 047-142-24 Owner ROBERT KOURY LLC,Lot Size (SF/AC)3,752/.09 Bedrooms 0 Year Built 1970 Living Area (SF)1,989 Bathrooms/Partial Garage/No. of Cars Built-in Phones Nearby Neighbor #6 Address 2212 W OCEANFRONT, NEWPORT BEACH, CA 92663 APN 047-143-27 Owner SUSTAYTA MARIO ROY Lot Size (SF/AC)3,110/.07 Bedrooms 0 Year Built 1965 Living Area (SF)3,002 Bathrooms/Partial Garage/No. of Cars Garage Phones Page 10 Nearby Neighbor #7 Address 2210 W OCEANFRONT, NEWPORT BEACH, CA 92663 APN 047-143-08 Owner NISSON J NICHOLAS TR; NISSON FAMILY TR Lot Size (SF/AC)3,109/.07 Bedrooms 0 Year Built 1965 Living Area (SF)3,002 Bathrooms/Partial Garage/No. of Cars Phones Nearby Neighbor #8 Address 2214 W OCEANFRONT, NEWPORT BEACH, CA 92663 APN 047-143-26 Owner SCHULTZ WILLIAM J TR THE W J SCHULTZ LIVING TR Lot Size (SF/AC)3,110/.07 Bedrooms 0 Year Built 1965 Living Area (SF)3,603 Bathrooms/Partial Garage/No. of Cars Attached Garage Phones Nearby Neighbor #9 Address 2208 W OCEANFRONT, NEWPORT BEACH, CA 92663 APN 047-143-28 Owner RLB PROPERTY MANAGEMENT LLC Lot Size (SF/AC)3,111/.07 Bedrooms 0 Year Built 1965 Living Area (SF)3,002 Bathrooms/Partial Garage/No. of Cars Attached Garage Phones Nearby Neighbor #10 Address 2306 W OCEANFRONT, NEWPORT BEACH, CA 92663 APN 047-142-28 Owner 2306 W OCEANFRONT LLC Lot Size (SF/AC)5,992/.14 Bedrooms 0 Year Built Living Area (SF)0 Bathrooms/Partial Garage/No. of Cars Phones Nearby Neighbor #11 Address 107 23RD ST, NEWPORT BEACH, CA 92663 APN 047-142-18 Owner RUBEN LLC Lot Size (SF/AC)3,247/.07 Bedrooms 0 Year Built 1958 Living Area (SF)2,136 Bathrooms/Partial Garage/No. of Cars Phones Nearby Neighbor #12 Address 2206 W OCEANFRONT, NEWPORT BEACH, CA 92663 APN 047-143-29 Owner MARINOS, PAUL G Lot Size (SF/AC)3,109/.07 Bedrooms 0 Year Built 1965 Living Area (SF)3,287 Bathrooms/Partial Garage/No. of Cars Attached Garage Phones Nearby Neighbor #13 Address 2301 W BALBOA BLVD, NEWPORT BEACH, CA 92663 APN 047-142-25 Owner KOUCHI ROY MASAYOSHI TR Lot Size (SF/AC)3,929/.09 Bedrooms 0 Year Built 1948 Living Area (SF)2,679 Bathrooms/Partial Garage/No. of Cars Phones Nearby Neighbor #14 Address 2204 W OCEANFRONT, NEWPORT BEACH, CA 92663 APN 047-143-25 Owner AUTORE UMBERTO TR TRUST; A AUTORE RESTATED LIVING TR Lot Size (SF/AC)3,110/.07 Bedrooms 0 Year Built 1961 Living Area (SF)2,640 Bathrooms/Partial Garage/No. of Cars Attached Garage Phones Page 11 Nearby Neighbor #15 Address 2202 W OCEANFRONT, NEWPORT BEACH, CA 92663 APN 047-143-24 Owner COX, BRYAN W; THE ZOE FAMILY TRUST,Lot Size (SF/AC)3,109/.07 Bedrooms 0 Year Built 1961 Living Area (SF)2,640 Bathrooms/Partial Garage/No. of Cars Attached Garage Phones Page 12 Subject Property Location Report Date: 02/02/2023 Property Address 2209 W BALBOA BLVD Order ID: R106084415 City, State & Zip NEWPORT BEACH, CA 92663-4333 County ORANGE COUNTY Parcel Number 047-143-30 Disclaimer THIS REPORT IS INTENDED FOR USE BY YOU AS AN END USER SOLELY FOR YOUR INTERNAL BUSINESS PURPOSES. 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