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Tina Lucarelli

[email protected] +1(310) 738-8089

Listed by Darwin Pearson • Pacific OC Properties

$ 3,739,000

Est. payment -/mo

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Price Dropped by $10K

1245 West Balboa Boulevard Newport Beach, CA 92661

2 Beds

2 Baths

432 SqFt

UPDATED:

01/28/2025 11:18 PM

Key Details

Property Type Single Family Home

Listing Status Active

Purchase Type For Sale

Square Footage 432 sqft

Price per Sqft $8,655

MLS Listing ID NP-24127815

Bedrooms 2

Three Quarter Bath 2

Year Built 1924

Lot Size 3,184 Sqft

Property Description

Ocean View Beach Cottage with Approved Plans for a Luxury Home on Balboa Peninsula Welcome to your dream property, just one row from the ocean with stunning views from the roof deck! This unique opportunity offers a charming beach cottage and a detached efficiency studio, perfect for immediate use or rental income. The property is located off a spacious 20-foot alley on a generous 31-foot wide by 102-foot-long lot, providing ample space and privacy. The beach cottage was completely remodeled in 2020, featuring new windows and a new roof, ensuring a comfortable and modern living experience. But the real gem of this property lies in its future potential. The owners have fully approved construction drawings from the City of Newport Beach, ready for a brand-new, three-story single-family dwelling. Imagine living in a luxurious new home designed with every modern convenience in mind. The new home design includes four spacious bedrooms, each with its own full bath, and two additional powder rooms for guests. The attached Accessory Dwelling Unit (ADU) offers its own entry and patio, perfect for extended family or rental income. The home also features a stunning three-story glass elevator, making every level easily accessible. With a total of 2,924 sq. ft. in the main house and an additional 533 sq. ft. in the ADU, there is plenty of room for everyone. The new construction will provide four off-street parking spaces, including an attached 2-car garage and a 2-car carport, ensuring ample parking for residents and guests. The second level boasts two decks, one with breathtaking ocean views, while the third level features an expansive 852 sq. ft. roof deck. This incredible outdoor space includes a powder room, appliances, BBQ, fire pit, and is designed for a hot tub, making it the perfect spot for entertaining or relaxing while enjoying the ocean views. The Peninsula is a scenic three-mile stretch with the harbor on one side and sandy beaches on the other. The area is primarily residential with some commercial areas, offering a mix of waterfront restaurants, local surf shops, and some of the best nightlife in Newport Beach. The permits are ready, and the property is set to move forward with construction. Act now! We have recently reduced the price by $40,000, making this an even more incredible opportunity. Do not miss out on this rare chance to own a piece of paradise with endless potential. Contact us today to learn more and schedule a viewing!

Location

State CA

County Orange

Zoning R2

Interior

Heating Baseboard

Cooling None

Fireplaces Type None

Laundry Outside

Exterior

Pool None

Community Features Biking, Curbs, Sidewalks, Storm Drains, Street Lights, Watersports

Utilities Available Sewer Connected, Underground Utilities, Water Connected, Electricity Connected, Natural Gas Connected, Phone Available

View Y/N No

View None

Building

Lot Description Front Yard, Level with Street, Rectangular Lot, Tear Down, Value In Land, Yard, 0-1 Unit/Acre

Sewer Public Sewer, Unknown

Tina Lucarelli

Advisor | License ID: 02102354

+1(310) 738-8089

Tina Lucarelli

1245 West Balboa Boulevard Newport Beach, CA 92661

Key Details

Location

Interior

Exterior

Building

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1245 West Balboa Boulevard