List Price: $5.7M

Listing Status: Active

Days on Market: 1

4 Bedrooms · 4 Bathrooms · 2,800 sq ft

Property Type: Residential

Year Built: 1949

Lot Size: 2,572 sq ft

Garage Spaces: 3

MLS Number: OC26207974

About This Property

**Maximize your portfolio with this rare turnkey four-unit offering in coveted Peninsula Point, just moments from both the beach and bay.** 1609 E Balboa Blvd presents a meticulously maintained and extensively upgraded property in one of Newport Beach’s most desirable coastal enclaves, generating $186,120 in annual gross scheduled income. The property features four one-bedroom, one-bathroom residences, offering an exceptional combination of investment potential, quality, and quintessential Newport Beach lifestyle. Three units were fully remodeled in 2021, while the lower unit underwent a complete renovation in 2025 with the level of quality and finish found in a newly built luxury Newport Beach home. Designed with the owner in mind, Unit D features high-end finishes throughout, a split-system AC, and a floor plan that can easily be converted to a two-bedroom configuration—an especially appealing option for an owner-user seeking a refined coastal residence. The building is exceptionally turnkey and thoughtfully maintained, with substantial upgrades throughout. Two sets of stackable washers and dryers serve the property, and upgraded tankless water heaters were installed in 2022. Each unit has separate electricity and gas, while the owner pays for water and trash, as well as common-area laundry expenses. Three units each include an attached one-car garage, providing highly coveted off-street parking and additional storage. A charming shared front patio with seating and BBQ creates an inviting outdoor gathering space and extends the living experience beyond the individual residences. The location is truly exceptional—within easy walking distance of the beach, bay, restaurants, boutiques, schools, and the world-famous Wedge Beach. Enjoy morning walks along the sand, afternoons on the bay, or the vibrant dining and coastal lifestyle that makes the Balboa Peninsula so sought-after. Peninsula Point is celebrated for its iconic community traditions, including the Christmas Boat Parade and Fourth of July festivities, as well as its proximity to the private Bay Beach and tennis club. Rarely does a property offer this combination of four turnkey residences, owner-quality renovation, parking, outdoor space, and an irreplaceable coastal location. 1609 E Balboa Blvd is a distinctive Newport Beach offering with the flexibility to enjoy as an investment, personal retreat, or both—a truly special opportunity in one of the coast’s most prized neighborhoods.