Investor Opportunity: Turnkey Duplex on Newport Beach's Balboa Peninsula Introducing a fully remodeled, income-producing duplex in the heart of Newport Beach’s prestigious Balboa Peninsula. This turnkey property offers a rare investment opportunity with a proven history of strong short-term rental income. Each of the two units features three bedrooms, two bathrooms, upgraded kitchens, recessed lighting, and individual HVAC systems—ideal for maximizing guest comfort and rental appeal. The property includes a versatile one-bedroom, one-bath bonus suite in the rear unit, as well as dedicated laundry facilities for each unit, adding flexibility and convenience for long- or short-term stays. Outdoor spaces are abundant, with three open patios and a rooftop deck perfect for entertaining and capturing California’s coastal lifestyle. Operating with two highly sought-after short-term lodging permits, this duplex has consistently generated impressive rental income. The prime location offers immediate access to both the bay and the beach, ensuring strong demand from vacationers. With ample parking and proximity to world-class beaches, shopping, and dining, this property is an investor’s dream. Seize the chance to own a premium, high-performing rental property in Newport Beach. Contact us today to schedule a showing!
Property Details
Property Features
Property Information:
Architectural Style: Bungalow
Year Built: 1955
Stories: 2
Living Area: 2,371 SqFt
Listing Office:
Office Name: Compass
Office Phone: (949) 220-4409
Listing Agent: Tyler Brown
Interior Features
Interior Information:
Appliances: Dishwasher, Freezer, Disposal, Gas Oven, Gas Range, Gas Water Heater, Water Heater, Microwave, Refrigerator, Range Hood, Tankless Water Heater, Vented Exhaust Fan
Flooring Type: Vinyl
Interior: Breakfast Bar, Ceiling Fan(s), Granite Counters, High Ceilings, Recessed Lighting
This property is $566.2K more than the Median Sold Price and $264/SqFt more than other homes in Newport Beach, CA.
Based on homes sold in the last 12 months
MLS Details
MLS Information:
MLS Name: CRMLS
MLS Number: #NP24198991
Listing Office:
Office Name: Compass
Office Phone: (949) 220-4409
Listing Agent: Tyler Brown
Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. The data contained herein is copyrighted by CRMLS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.
The information being provided by California Regional Multiple Listing Service, Inc. (“CRMLS”) is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Any information relating to a property referenced on this web site comes from CRMLS. Properties may or may not be listed by the office/agent presenting the information. Real estate listings held by brokerage firms other than this broker are marked with the Internet Data Exchange logo and detailed information about them includes the names of the listing brokers and listing agents. MLS search engine provided by IHR Technology Services. This data is updated every 2 hours. Some properties appearing for sale on this display may subsequently have sold and may no longer be available. Data displayed may be a portion of, and not a complete set of all listings published in the MLS. Last updated on: 10/18/2024, 4:20:51 AM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
Property Sales & Tax
Listing History
DATE
EVENT
PRICE
Dec 27, 2017
Dec 27, 2017Home Sold
$1,545,000
Jul 01, 1992
Jul 01, 1992Home Sold
$400,000
Tax History
YEAR
PROP. TAX
ASSESSMENT
2021
$19,791
$1,832,517
2020
$19,596
$1,813,727
2019
$16,730
$1,685,037
2018
$16,731
$1,545,000
2017
$5,683
$493,369
History based on county public records data.
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Schools
Schools Nearby
The school rating is a score out of 10, where 10 is the highest and 1 is the lowest. Assigned schools have a bold outline.
Elementary School
8
/10
Newport Elementary School
1327 W Balboa Blvd
Distance between this listing and this school0.04 miles
Public District Grades KG-6
Middle School
8
/10
Horace Ensign Intermediate School
2000 Cliff Dr
Distance between this listing and this school0.85 miles
Public District Grades 7-8
High School
7
/10
Newport Harbor High School
600 Irvine Ave
Distance between this listing and this school1.13 miles
Public District Grades 9-12
Assigned Schools
8
/10
Newport Elementary School
1327 W Balboa Blvd
Distance between this listing and this school0.04 miles
Public District Grades KG-6
Nearby Schools
7
/10
Newport Heights Elementary School
300 E 15th St
Distance between this listing and this school1.41 miles
Public District Grades KG-6
7
/10
Mariners Elementary School
2100 Mariners Dr
Distance between this listing and this school1.90 miles
Public District Grades KG-6
Assigned Schools
8
/10
Horace Ensign Intermediate School
2000 Cliff Dr
Distance between this listing and this school0.85 miles
Public District Grades 7-8
Nearby Schools
7
/10
Isaac L. Sowers Middle School
9300 Indianapolis Ave
Distance between this listing and this school4.80 miles
Public District Grades 6-8
9
/10
Vista Verde
6 Federation Way
Distance between this listing and this school5.44 miles
Public District Grades KG-8
Assigned Schools
7
/10
Newport Harbor High School
600 Irvine Ave
Distance between this listing and this school1.13 miles
Public District Grades 9-12
Nearby Schools
8
/10
Corona Del Mar High School
2101 Eastbluff Dr
Distance between this listing and this school2.97 miles
Public District Grades 7-12
2
/10
Back Bay High School
390 Monte Vista Ave
Distance between this listing and this school3.65 miles
The neighbors living near this home have an average income of $110,552. Most Newport Beach, CA residents have annual incomes between $35k-100k. The majority of families are single, no kids. Typical level of education for residents in this area is post secondary degree.
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This home is located at 1320 W Balboa Blvd in Newport Beach, CA and zip code 92661 in the Central Newport Beach neighborhood. This 2,371 square foot home, which was built in 1955, sits on a 0.07 acre lot. Features: 7 bedrooms, 5 bathrooms. It has been listed on Rocket Homes since September 25, 2024 and is currently priced at $3,980,000.
In September 2024, from all listings sold in Newport Beach, CA there were more than 6 sold above asking price, over 58 sold below and more than 5 were sold right at the asked price. The number of homes for sale in Newport Beach, CA increased by 2.6% between August 2024 and September 2024. Listings spent 51 days on the market in September 2024, and had a median list price of $3,413,750 during the same period.
From Rocket Homes Real Estate and based on county public records data.
Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. The data contained herein is copyrighted by CRMLS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. 
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