1509 Balboa blvd, Newport Beach, CA 92663
Active
$8,088,000
2 Units
5 Beds
6 Baths
3,349 Area(sq.ft.)
Lot: 2,575 Lot Size(sq.ft.)
| Type | # of Units | Bedroom | Bath | Furnished | Rent | Actual Rent | Projected Rent |
|---|---|---|---|---|---|---|---|
| Unit 1 | 1 | 2 | 3 | No | n/a | n/a | n/a |
| Unit 2 | 1 | 3 | 3 | No | n/a | n/a | n/a |
| 2 | 5 | 6 | $ 0 | $ 0 | $ 0 |
| MLS #: | NP25132550MR |
| Days On Market: | 235 |
| Listing Date: | June 13, 2025 |
| County: | Orange County |
| Property Type: | Residential Income |
| Price per ft2: | $ 2,415 |
| Price per unit: | $ 4,044,000 |
| Year Built: | 2025 |
Property Details
Revuelto Construction present a fully entitled, shovel-ready duplex with an ADU development opportunity on a premium corner lot in the heart of Newport Beach s prestigious Balboa Peninsula. Designed by Iconic Architecture this 3,349 square foot site is approved for the construction of two luxury condominiums and a high-end Accessory Dwelling Unit (ADU), offering a compelling blend of prime location, thoughtful design, and strong financial upside. Ideally situated with nearby access to both the Pacific Ocean and Newport Harbor, the property benefits from a high-demand coastal micro-market where homes routinely command top-tier sale prices and vacation rental rates. The approved development includes six bedrooms and six bathrooms across 2 units plus an ADU, each designed to maximize indoor-outdoor living. Expansive private decks with outdoor kitchens, ample parking, and contemporary architecture contribute to a highly desirable end product. All discretionary approvals, including coastal permits and utility connections, have been secured, allowing for immediate commencement of construction and minimizing holding costs. This opportunity is further strengthened by the rarity of corner-lot development sites on the Balboa Peninsula. Demand remains strong for Newport Beach condominiums, which consistently outperform Orange County averages in both appreciation and occupancy particularly in the short-term rental market. Designed by Iconic Architecture and built by Revuelto Construction, the project is positioned to command a design premium, translating to elevated per-square-foot pricing. This is a unique chance to create lasting value in one of Southern California s most sought-after coastal enclaves is scheduled to be ready for occupancy near February of 2026.Interested in this Listing?
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Income Details
| Rent Control: | False |
| Total Annual Expense: | $ 0 |
| Net Operating Income: | $ 0 |
Structure
| Amenities: | Other |
| Community Features: | Sidewalks |
| Style: | Contemporary |
| Sewer: | Public Sewer |
| View Description: | Bay, City Lights, Harbor, Landmark, Marina, Ocean, Water |
| Water: | Public |
Land & Parking
| Land Lease Type: | Fee |
| Parking Garage: | Direct Entrance, Driveway - Combination, Garage, Garage - 2 Car, Parking Space, Private |
Interior
| Cooking Appliances: | None |
| AC/Cooling: | Central |
| Equipment: | None, Room |
| Heating: | Central |
| Fireplace Rooms: | Living Room |
| Laundry: | Room |
Exterior
| Exterior Construction: | Other |
| Pool: | No |
| Spa: | True |
Detailed Map
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Income
