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$ 2,400,000
Est. payment /mo
New
203 6th Street Newport Beach, CA 92661
3 Beds
3 Baths
2,178 Sqft Lot
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Res Income 2-4 Units
Listing Status Active
Purchase Type For Sale
Subdivision Balboa Peninsula (Residential) (
MLS Listing ID NP26193591
Bedrooms 3
Lot Size 2,178 Sqft
Property Sub-Type Res Income 2-4 Units
Property Description
RARE BALBOA PENINSULA REDEVELOPMENT OPPORTUNITY. Located in the heart of Newport Beachs iconic Balboa Peninsula, 203 6th Street presents a unique opportunity for investors, developers, and those seeking to create a new coastal residence in one of Southern Californias most coveted beach communities. The property is currently configured as a triplex consisting of three separate one-bedroom units, offering immediate income potential while providing an exceptional opportunity to reimagine the property for the future. Situated on an approximately 2,178-square-foot lot, the propertys existing configuration provides flexibility for a variety of investment strategies. An investor may choose to maintain and improve the existing three-unit income property, while a developer or owner-user may explore the potential to redevelop the site and maximize its value through a new construction project, subject to City of Newport Beach approvals and applicable zoning and development regulations. The propertys location is a major part of the opportunity. Positioned just moments from the beach, bay, restaurants, shops, and the vibrant entertainment that defines the Balboa Peninsula, this is an exceptionally walkable coastal setting. The combination of a highly desirable Peninsula location, existing multifamily use, and valuable land creates a compelling proposition for buyers looking beyond the current improvements. For developers, the real opportunity lies in the land. The existing structure can serve as a source of rental income while plans are evaluated, or the site can be considered for a fut
Location
State CA
County Orange
Zoning Public Rec
Direction Balboa Blvd. to 6th St. in between the Newport and Balboa Piers
Interior
Fireplace No
Exterior
View Y/N No
Building
Story 1
Level or Stories 1
Others
Senior Community No
Tax ID 04802214
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
Listed by Arthur Dorr, DRE#01899740 Balboa Realty