Real Estate Investment in Newport Beach, CA

Why Invest in Newport Beach Real Estate?

Famous for its great weather, access to top-notch education and healthcare facilities, luxurious lifestyle, and vicinity to many emerging tech hubs, Newport Beach attracts plenty of young professionals and recent retirees. Home to more than 86,000 residents, the city has about 37% renter-occupied units, which makes it a hot spot for real estate investors in rental properties.

Newport Beach's economy is strong and thriving, which continuously attracts and retains talent. Key industries include educational services, healthcare & social assistance, manufacturing, finance, and management services.

The city's real estate market boasts some of the priciest properties in the US; however, it's important to mention that properties in the area experience high appreciation rates. This translates into a nice scene for real estate investors looking for house flipping. Both buyers and sellers have decent options, especially when talking about luxury properties.

All things considered, Newport Beach provides plenty of opportunities for real estate investors in single-family homes.

Investment Considerations for Newport Beach Real Estate

There are a number of factors to consider, including:

  • Growing job market - With a job market that increased by 2.3% in 2017, Newport Beach is an attractive place for people looking to expand their career. Also referred to as the Silicon Valley of Southern California, the city's booming economy is supported by numerous companies (PIMCO, Trovata, Ghost Group, United Capital, and many others) that are either headquartered or have their key offices here. The unemployment rate is 3.7%, which is significantly lower than the national average of 5.2%. This means that real estate investors can choose from many employed tenants who will afford to pay their rent on time.
  • Solid rental property market - 40.7% of all Newport Beach's inhabitants are living in rented properties and 37.21% of all the housing units are renter-occupied. Moreover, a lot of the tenants work in high-paying professions; as a matter of fact, the city's per capita income is $84,134, higher than the US average of $50,392. This is great news for real estate investors who will easily find reliable renters for their single-family homes.
  • Steady commercial real estate market development - In 2017 alone, a 116,000-square-foot space was built for retail and hospitality purposes and even larger projects have already been set in motion. Stretching over 13 acres, Koll Center is another similarly envisioned complex that's waiting for approval. Newport Beach's concentration of businesses (21.33 per 100 residents) is actually the highest nationwide, as the economy supports major corporate players while also being an increasing technology cluster. Therefore, real estate investors in commercial spaces can benefit from the newly built spaces together with the influx of businesses and young professionals. This can translate into a steady stream of year-round income and a strong likelihood of positive cash flow.
  • Popular living destination - Located in Orange County, Newport Beach is a prosperous seaside city that represents the laidback, lush Southern Californian lifestyle. Its renowned blue-ribbon schools such as Corona del Mar High School, access to beautiful beaches, pleasant weather, and the plethora of leisure ops like the Cabo San Lucas Yacht Race attract lots into the city. Newport Beach is certainly a popular destination among people looking to relocate. This means a good percentage of steady renters and homebuyers that makes it highly likely for real estate investors to generate a nice return on investment.

What are the best neighborhoods to invest in Newport Beach

  • While the entire city is packed with high-end properties, Newport Heights is one of the best choices for real estate investors. Thanks to its luxurious vibe and increasing rental demand, this is an area that’s worth keeping an eye on. Also, individual properties in this neighborhood are often selling for less than the asking price.
  • Real estate investors have diverse opportunities in Newport Beach. From single-family homes to commercial spaces, there is no shortage of options. Those looking for positive cash flow likelihood, appreciation, and year-round incomes can see Newport Beach as a promising place.

 

HomeUnion® Investment MapHomeUnion® is the leader in residential real estate investment. With the use of big data and machine learning, we analyze information on millions of single family homes in Newport Beach, CA; and across the United States and calculate home values INVESTimate® for every property in Newport Beach. If you’re looking for the best investment properties across the country, visit our comprehensive investment site.

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