203 6th Street,Newport Beach, CA 92661
Newport Beach, CA 92661
Description
RARE BALBOA PENINSULA REDEVELOPMENT OPPORTUNITY. Located in the heart of Newport Beach's 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 California's 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 property's 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 property's 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 future redevelopment project. Buyers should independently verify zoning, allowable density, setbacks, building requirements, parking requirements, and any other development parameters with the City of Newport Beach. Whether acquired as an income-producing triplex, repositioned through renovation, or explored as a future redevelopment site, 203 6th Street offers a rare chance to secure a piece of Balboa Peninsula real estate with significant long-term potential.
Details
| MLS # | NP26193591 |
|---|---|
| Listing Type | For Sale |
| Sub-Type | Resale |
| Status | Active |
| Year | 1941 |
| Days On Site | 11 |
| Listing Provided By | Balboa Realty | Arthur Dorr |
Features
| SQ Feet | 1,500 |
|---|---|
| Story(s) | 1 |
| Units | 3 |
| Building(s) | 1 |
| Acreage | 0.05 |
| Water Front | Yes |
| Property View | Yes |
Interior
| Cooling | None |
|---|---|
| Heating | Wall Furnace |
| Heating Yes / No | Yes |
| Cooling Yes / No | No |
| Interior Features | Ceiling Fans, All Bedrooms Down |
| Appliances | Refrigerator |
| Fireplace Yes / No | No |
Exterior
| Roof | Flat |
|---|---|
| Construction Materials | Stucco |
| Foundation Details | Slab |
| Lot Features | Value In Land |
| Fencing | Wood |
Parking
| Parking Features | None |
|---|---|
| Garage Yes / No | No |
Utilities
| Utilities | Electricity Available, Natural Gas Available, Sewer Available, Water Available |
|---|---|
| Sewer | Public Sewer |
Location
| Community Features | Biking, Curbs, Fishing, Storm Drains, Street Lights, Sidewalks, Urban |
|---|
Area Information
| State | CA |
|---|---|
| County | Orange |
| City | Newport Beach |
| Zip Code | 92661 |
| Area | NP Balboa Peninsula |
| Community Name | Balboa Peninsula (Residential) (BALP) |
| Listing VS Median (in Balboa Peninsula (Residential) (BALP)) | |
Price: $2,400,000 low | high Med: $1,234,500 sqft: 1,500 low | high Med: 1,876 $ / sqft: $1,600 low | high Med: $905 On site: 11 low | high Med: 236.5 | |
Market Activity 92661
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Learn More About This Property
| State | CA |
|---|---|
| County | Orange |
| City | Newport Beach |
| Zip Code | 92661 |
| Area | NP Balboa Peninsula |
| Community Name | Balboa Peninsula (Residential) (BALP) |
| Listing VS Median (in Balboa Peninsula (Residential) (BALP)) | |
Price: $2,400,000 low | high Med: $1,234,500 sqft: 1,500 low | high Med: 1,876 $ / sqft: $1,600 low | high Med: $905 On site: 11 low | high Med: 236.5 | |
