5 Beds
3 Baths
2,024 SqFt
5 Beds
3 Baths
2,024 SqFt
Key Details
Property Type Multi-Family
Sub Type Duplex
Listing Status Active
Purchase Type For Sale
Square Footage 2,024 sqft
Price per Sqft $1,852
MLS Listing ID SC26185227
Bedrooms 5
Full Baths 3
HOA Y/N No
Year Built 1935
Lot Size 2,613 Sqft
Property Sub-Type Duplex
Property Description
Rarely does a Balboa Island property offer this much flexibility. This charming, timeless duplex can be delivered fully vacant at close. a blank slate for however you want to use it.
The front house is a single-story, 3-bed, 2-bath unit with an open-concept kitchen, dining, and living space, vaulted ceilings, and abundant natural light. It's fully furnished, features new flooring throughout, and offers direct access to a two-car garage. It also holds an active short-term rental permit. one that has historically generated approximately $45,000 in gross income across 3 months of June, July, and August alone. Recent upgrades include a brand-new bright white shower in the guest bath, an updated master bath, and full replacement of the original cast-iron drain lines with ABS.
The rear unit has been tastefully remodeled with twin bedrooms opening to a light-filled kitchen and living area that spills onto a private rooftop balcony. Perfect for catching ocean breezes, now enhanced by a brand-new mini-split system and whole-house fan. New flooring and a clean, contemporary tile bath complete the space.
How you use it is up to you:
-Owner-occupants can settle into the 3-bed front house and lease the rear unit to help offset carrying costs.
-Investors can run the front house as a proven short-term rental while placing a long-term tenant in the rear unit for income on day one.
-Visionaries can hold the property for cash flow while pursuing entitlements and permits for a brand-new build on one of Newport Beach's most desirable islands.
However you choose to play it, this is a rare opportunity to own a cash-flowing asset on Balboa Island with a clear path to even greater upside. Don't miss it.
Location
State CA
County Orange
Area Np - Balboa Peninsula
Rooms
Main Level Bedrooms 3
Interior
Interior Features Balcony, Ceiling Fan(s), Cathedral Ceiling(s), Separate/Formal Dining Room, Furnished, Recessed Lighting, Tile Counters, Main Level Primary
Heating Fireplace(s), Heat Pump
Cooling Ductless, Heat Pump, Whole House Fan
Flooring Tile, Vinyl
Fireplaces Type Living Room
Fireplace Yes
Appliance Dishwasher, Gas Oven, Gas Range, Refrigerator
Laundry Common Area, Inside
Exterior
Parking Features Garage
Garage Spaces 2.0
Garage Description 2.0
Pool None
Community Features Storm Drain(s), Sidewalks
View Y/N Yes
View Bay
Roof Type Shingle
Porch Open, Patio
Total Parking Spaces 2
Private Pool No
Building
Lot Description 2-5 Units/Acre
Dwelling Type Duplex
Story 2
Entry Level Two
Sewer Public Sewer
Water Public
Level or Stories Two
New Construction No
Schools
School District Newport Mesa Unified
Others
Senior Community No
Tax ID 05007118
Acceptable Financing Cash, Conventional, 1031 Exchange
Listing Terms Cash, Conventional, 1031 Exchange
Special Listing Condition Standard
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