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Lorenzo Vasquez

sold@lorenzovasquez.com +1(559) 667-7612

$3,150,000

Est. payment - /mo

4 Beds

2 Baths

1,552 SqFt

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UPDATED:

Key Details

Property Type Multi-Family

Sub Type Duplex

Listing Status Active

Purchase Type For Sale

Square Footage 1,552 sqft

Price per Sqft $2,029

Subdivision Balboa Peninsula (Residential) (Balp)

MLS Listing ID NP26027772

Bedrooms 4

Full Baths 2

Construction Status Turnkey

HOA Y/N No

Year Built 1947

Lot Size 2,613 Sqft

Property Sub-Type Duplex

Property Description

Incredible investment opportunity in the heart of Newport Beach. This turnkey duplex includes two Short Term Rental Permits that are transferable to the new owner! The property consists of two separate units and an oversized 4-car garage, assuring you will never be without parking at the beach. Located on the Balboa Peninsula, this duplex is just steps to the sandy beach or a short walk to Channel Park on the bay. Each unit offers 2 bedrooms and 1 bathroom with recently updated kitchens and baths. The upper unit, situated above the garage, enjoys ocean breezes, while the lower unit features a private patio with a fire pit, enhancing guest appeal and rental performance. Both units are fully furnished and equipped with modern conveniences including Smart TVs, on-site washer and dryer, towels, linens and beach gear, allowing for immediate, turnkey operation. The property has an established history as a professionally managed vacation rental with consistent income, making it a strong, proven performer. All finishes, furnishings, and household items are in excellent condition. All appliances new as of 2024 including tankless water heater. Recent improvements including new paint, roof, windows, and additional upgrades minimizing near-term capital expenditures. This is a low-maintenance coastal asset located in one of Newport Beach's strongest rental corridors.

Location

State CA

County Orange

Area Np - Balboa Peninsula

Rooms

Main Level Bedrooms 2

Interior

Interior Features Ceiling Fan(s), Furnished

Cooling None

Flooring Laminate

Fireplaces Type Outside, Propane

Fireplace Yes

Appliance Barbecue, Gas Oven, Gas Range, Refrigerator, Tankless Water Heater

Laundry Common Area, In Garage

Exterior

Exterior Feature Fire Pit

Parking Features Assigned, Garage, Oversized, Private

Garage Spaces 4.0

Garage Description 4.0

Fence Block

Pool None

Community Features Storm Drain(s), Street Lights, Sidewalks, Park

Utilities Available Cable Connected, Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected

View Y/N Yes

View Ocean, Peek-A-Boo

Roof Type Composition

Accessibility Parking

Total Parking Spaces 4

Private Pool No

Building

Lot Description Corner Lot, Near Park, Near Public Transit, Paved

Dwelling Type Duplex

Story 2

Entry Level Two

Foundation Slab

Sewer Public Sewer

Water Public

Level or Stories Two

New Construction No

Construction Status Turnkey

Schools

School District Newport Mesa Unified

Others

Senior Community No

Tax ID 42329608

Acceptable Financing Conventional, 1031 Exchange

Listing Terms Conventional, 1031 Exchange

Special Listing Condition Standard

Lease Land No

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Listed by Anna Andrews Compass 949-274-0132, DRE #01485699

Nearby School & Business

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Lorenzo Vasquez

+1(559) 667-7612

Agent | License ID: 02072805

Agent License ID: 02072805

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205 42nd ST Newport Beach, CA 92663

Lorenzo Vasquez

Key Details

Location

Rooms

Interior

Exterior

Building

Schools

Others

Nearby School & Business

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