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$ 8,088,000
Est. payment /mo
Active
1509 W Balboa Boulevard Newport Beach, CA 92663
2,575 Sqft Lot
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Res Income 2-4 Units
Listing Status Active
Purchase Type For Sale
MLS Listing ID NP25132550
HOA Y/N No
Lot Size 2,575 Sqft
Property Sub-Type Res Income 2-4 Units
Property Description
Revuelto Construction present a fully entitled, shovel-ready duplex with an ADU development opportunity on a premium corner lot in the heart of Newport Beachs 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 five 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 occupancyparticularly 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 pric
Revuelto Construction present a fully entitled, shovel-ready duplex with an ADU development opportunity on a premium corner lot in the heart of Newport Beachs 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 five 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 occupancyparticularly 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 Californias most sought-after coastal enclaves is scheduled to be ready for occupancy near February of 2026.
Revuelto Construction present a fully entitled, shovel-ready duplex with an ADU development opportunity on a premium corner lot in the heart of Newport Beachs 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 five 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 occupancyparticularly 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 Californias most sought-after coastal enclaves is scheduled to be ready for occupancy near February of 2026.
Location
State CA
County Orange
Area Oc - Newport Beach (92663)
Zoning Builder
Interior
Cooling Central Forced Air
Exterior
Exterior Feature Other/Remarks
Building
Lot Description Corner Lot, Sidewalks
Story 3
Lot Size Range 1-3999 SF
Level or Stories 3 Story
Others
Monthly Total Fees $67
Acceptable Financing Cash, Conventional, Exchange, Land Contract
Listing Terms Cash, Conventional, Exchange, Land Contract
Listed by Mark Todd • Compass
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