1324 W Balboa Boulevard, Newport Beach, California 92661, Newport Beach, 92661 - 0 bed, 0 bath
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Newport Beach, California 92661
This Prime Coastal Income Property represents a rare multi-unit asset on the Balboa Peninsula, offered at a List Price of $4,099,999. While currently positioned above the $3,814,840 Fair Market Value, the property’s unique reconfiguration into six income-generating units maximizes immediate rental yield in a high-demand market. Boasting a Condition Rating of 3 with modern interior updates and proximity to the 9/10 rated Newport Elementary School, the asset combines turnkey utility with a world-class location. This is an exceptional opportunity for Buy-and-Hold Investors or Value-Add Developers looking to secure a high-density coastal footprint.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 1324 W Balboa Boulevard Subject | $4,099,999* List Price | 0 | 0 | 3,336 | $1,144 | - |
A 203 8th St Active | $3,695,000 List Price | 5 | 3 | 2,446 | $1,511 | 0.5 mi |
* Subject property listed price vs sold prices of comps.
Property is move-in ready.
Although originally built in 1936, the property has undergone significant recent interior updates. The units feature modern kitchens with white shaker cabinetry, quartz-style countertops, and stainless steel appliances. Bathrooms have been updated with contemporary tiling and fixtures, and the flooring appears to be newer luxury vinyl plank or laminate. The exterior has fresh paint and the property is presented in move-in ready condition, though the 1936 vintage suggests some original structural elements remain.
Elementary School: Newport Elementary School (9/10).
Situated just steps from the sand and surf on the Balboa Peninsula, the property offers immediate access to world-class beaches, Lido Marina Village, and high-end dining.
This legally recognized triplex has been reconfigured into six units, maximizing immediate rental yield while offering a flexible exit strategy for future redevelopment.
With only three carport spaces for a six-unit configuration, the property faces significant parking challenges in a high-density area where street parking is extremely limited.
Originally constructed in 1936, the property may require ongoing maintenance or significant upgrades to its aging structural and mechanical systems despite recent cosmetic improvements.
Rare investment opportunity just steps from the sand and surf in one of Newport Beach’s most sought-after coastal communities. This legally recognized triplex has been previously reconfigured into six income-generating units, maximizing rental potential while preserving long-term flexibility. The property has been recently updated, including interior unit improvements and fresh exterior paint, offering a clean and well-maintained impression throughout. On-site 3-carport parking adds convenience for tenants. With easy potential to convert back to 3 or 4 larger units, this property offers a flexible exit strategy for future redevelopment or owner-occupant use. Situated just a short stroll to the beach, Lido Marina Village, top dining, shops, and the harbor, this is a prime opportunity for both short- and long-term income investors. Interior unit photos and unit rent breakdown available upon request.
No exterior & parking available.
Grades PK-6 • 0.1 mi
Grades 7-8 • 0.8 mi
Grades 9-12 • 1.2 mi
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 0.0 | 2.5 | 50% |
| Baths | 0.0 | 1.0 | 50% |
| Square foot | 3,336 | 2,508.5 | 83% |
| Lot Size | 3,049 | 3,049 | 50% |
| Price | $4.10M | $3.65M | 50% |
| Price per sq ft | $1.2K | $1.2K | 50% |
| Built year | 1936 | 1960 | 33% |
| HOA | $0 | $0 | 50% |
| Days on market | 277 | 264 | 67% |
Feb 21, 2026
$4,099,999
$4,200,000
-2% Price Drop
Initial Listing
Jul 19, 2025
$4,200,000
Initial Listing