612 W Balboa Boulevard, Newport Beach, California 92661, Newport Beach, 92661 - 3 bed, 2 bath
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Newport Beach, California 92661
This Coastal Value-Add Duplex is listed at $2,399,000, representing a market-aligned entry point for the Balboa Peninsula given its $2,264,633 Fair Market Value. With a Condition Rating of 5, the 1948 structure requires a full interior modernization, providing a clear path for forced appreciation in a high-demand rental zone. The property features rare 4-car parking and is located steps from the beach within the 9/10 rated Newport Elementary district. This versatile asset is ideal for Real Estate Developers or Buy-and-Hold Investors seeking long-term coastal equity.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 612 W Balboa Boulevard Subject | $2,399,000* List Price | 3 | 2 | 1,122 | $2,018 | - |
A 920 W Balboa Sold | $2,200,000 | 3 | 4 | 1,421 | $1,548 | 0.3 mi |
* Subject property listed price vs sold prices of comps.
Property is extensive renovation needed.
Built in 1948, the property shows no evidence of significant renovation within the last 30 years. The kitchens feature original-style scalloped wood cabinetry, dated laminate countertops, and an exposed water heater in the living space. Systems like the wall heaters are aged, and the overall interior requires a full rehab to meet modern standards.
Elementary School: Newport Elementary School (9/10).
Situated in the heart of the Balboa Peninsula just steps from the sand and pier, this property offers an unbeatable lifestyle and high demand for short-term rentals.
The dual-unit configuration provides flexible options for owner-occupancy with a mortgage helper, multi-generational living, or a high-yield investment strategy.
Living area discrepancy between mls listing and other public or private record. mls listing living area = 1122, other record living area = 384. Bedroom count discrepancy between mls listing and other public or private record. mls listing bedroom count = 3, other record bedroom count = 1.
Built in 1948, the structure may require significant capital improvements or modernization to meet contemporary luxury standards and maximize its market value.
With only 1,122 total square feet divided between two separate units, the interior living spaces are relatively small, which may limit appeal for buyers seeking more spacious accommodations.
Located in the highly desirable Balboa Peninsula, this versatile 2 unit offers the ultimate coastal lifestyle and exceptional investment potential. Situated just steps from the sand and directly across from the beach, this property is also conveniently close to the pier, shops, and dining. The lower-level unit features a well-appointed 1-bedroom, 1-bath layout—perfect for a vacation rental or long-term tenant. Upstairs, the spacious 2-bedroom, 1-bath unit offers elevated living with added privacy and the potential for ocean breezes off the front enclosed sunroom. The property includes a 2-car garage plus two additional parking spaces—an invaluable amenity in this prime beachside location. Whether you’re looking for a smart investment opportunity or a flexible owner-occupied setup, this property delivers. Live in one unit and rent out the other or maximize income potential by leasing both. Don’t miss this rare opportunity to own in one of Southern California’s most sought-after coastal communities.
No exterior & parking available.
Grades PK-6 • 0.6 mi
Grades 7-8 • 1.1 mi
Grades 9-12 • 1.4 mi
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 3.0 | 3.0 | 50% |
| Baths | 2.0 | 4.0 | 29% |
| Square foot | 1,122 | 2,436.5 | 13% |
| Lot Size | 2,100 | 2,614 | 13% |
| Price | $2.40M | $4.58M | 13% |
| Price per sq ft | $2.1K | $2.5K | 42% |
| Built year | 1948 | 1954 | 33% |
| HOA | $0 | $0 | 50% |
| Days on market | 4 | 211 | 4% |
Apr 18, 2026
$2,399,000
Initial Listing