Investment Overview

A MULTIFAMILY RENTAL OPPORTUNITY JUST FEET FROM THE SAND The property is currently configured with four units. The front unit which is on the corner of Balboa Boulevard and Coronado Street is two- bedrooms with one bath and a kitchen and small dining area. Two of the units (Units 1 and 2) are one bedrooms with one bath. One unit is a studio unit. Both the ones and the studio unit have kitchenettes. The City of Newport Beach has limits and strict guidelines to the addition of vacation rentals along the Balboa Peninsula, but for a developer who can get the necessary approvals, 301 Balboa Blvd. is an outstanding location for such a project given its line of site for ocean views, its proximity to the boardwalk, beach, pier, restaurants and other activities in nearby Balboa Village. As of August 2023, published nightly vacation rental rates are $675 for a one-bedroom, $549-$680 for two-bedrooms, $382-$736 for three- bedrooms and up to $1,415 for a four-bedroom.