Balboa Island Multifamily Homes & Duplexes for Sale

/12
$6,400,000
- 5 Beds
- 2.5 Baths
- 2,370 Sq Ft
126 Sapphire Ave, Newport Beach, CA 92662

DEVELOPER'S DREAM! Rare Opportunity to Develop 2 Side-by-Side Balboa Island Lots! In a desirable mid-Island location,126 & 124 Sapphire Ave, 2 parcels with separate APN numbers, at the corner of Park and Sapphire, have a combined total of app 5100 sqft. Convenient to Marine Ave shopping and dining, within a short walk to the Balboa Ferry, all that Balboa Island has to offer is walkable, and with

Louise Stuart Pacific Coast Realty Group

126 Sapphire Ave, Newport Beach, CA 92662
Explore Balboa Island
/4
$3,245,000
- 4 Beds
- 2.5 Baths
- 1,843 Sq Ft
201 Diamond Ave, Newport Beach, CA 92662

This desirable corner lot duplex on Balboa Island offers a rare opportunity for luxurious living or a savvy investment. Perfect for builders, investors, and developers seeking a prime coastal property.The spacious main unit features 3 bedrooms, 1.5 bathrooms, with direct garage access. The back unit above the garage has 1 bedroom and 1 full bath, offering comfort and charm. Complete with

Brandon McTeer Realty One Group West

201 Diamond Ave, Newport Beach, CA 92662
/73
$7,375,000
- 8 Beds
- 6 Baths
- 4,867 Sq Ft
115 Apolena Ave, Newport Beach, CA 92662

Extraordinary Yale Home on Famed Story Book Row! 1st Time on the Market in 50+Years. 5 Bedroom Home, 2 Bedroom Apartment, In-Law Guest Quarters, 2 Full Lots. Main Residence: 5 Bedroom | 4 Baths | Chef - Friendly Kitchen w/Breakfast Bar Opening to Family Room | Generous Size Dining Room w/ Fireplace | Spacious Living Room w/ Cathedral Ceilings Accented by Wood Beam Trusses | Showpiece Custom Brick

Mary Hardesty Mary Hardesty Realty

115 Apolena Ave, Newport Beach, CA 92662
/22
$9,475,000
- 4 Beds
- 3.5 Baths
- 2,003 Sq Ft
1407 N Bay Front, Newport Beach, CA 92662

PRIVATE DOCK Rare Oversized Balboa Island Bayfront with Private Dock This exceptional oversized lot, boasting 45 feet of frontage on Newport Harbor’s coveted bayfront, presents a rare opportunity to design and build a more spacious custom waterfront home of over 4,000 square feet, with multi-craft dock. Properties with this size, location and potential are rarely available and highly sought

Georgie Fenton Coldwell Banker Realty

1407 N Bay Front, Newport Beach, CA 92662

California Orange County Newport Beach Balboa Island

Why Live in Balboa Island

Balboa Island in Newport Beach is a compact, walkable neighborhood known for its boating culture and beach access. The island features private docks and is near the Balboa Yacht Basin and Newport Beach Yacht Club. Newport Bay, to the south, offers opportunities for deep-sea fishing and diving. Public beaches encircle the island, allowing for swimming and fishing, though they are narrow and have specific hours for dogs. A ferry ride south leads to Balboa Peninsula, home to the Balboa Pier, Newport Beach Pier, and the Balboa Fun Zone, a popular carnival area. Marine Avenue, the island’s commercial hub, is lined with shops, restaurants, and the famous frozen banana stands, Dad’s and Sugar 'n Spice. The Balboa Island Museum and local boutiques add to the charm. Events like the Balboa Island Community Garage Sale and Concert in the Park bring residents together. While there are no schools on the island, Lincoln Elementary and Corona Del Mar Middle and High School, both highly rated, are about 2 miles away on the mainland. The island's homes, ranging from 1920s cottages to modern builds, feature multiple stories, large patios, and bright colors, reflecting a quintessential beach vibe. Despite the high property prices, the median sale price is lower than neighboring areas. The island is accessible via a ferry to Balboa Peninsula or a bridge to the Pacific Coast Highway, though traffic can be heavy, especially in summer.

Learn more about living in Balboa Island

Home Trends in Balboa Island, CA

On average, homes in Balboa Island, Newport Beach sell after 122 days on the market compared to the national average of 70 days. The median sale price for homes in Balboa Island, Newport Beach over the last 12 months is $418,000, up 13% from the median home sale price over the previous 12 months.

Housing Trends

Median Sale Price

$418,000

Median Single Family Sale Price

$525,000

Median Townhouse Sale Price

$339,000

Average Price Per Sq Ft

$319

Number of Homes for Sale

Last 12 months Home Sales

Months of Supply

1.10

Median List Price

$494,000

Median Change From 1st List Price

Median Home Sale Price YoY Change

13%

How to Buy a Home How to Finance a Home How to Sell a Home

In Balboa Island, there are currently 4 multi-family homes for sale, providing an appealing investment opportunity for buyers. With multi-family homes ranging from $3,245,000 to $9,475,000, there's something for every budget. As of July, 2025 the median home price in Balboa Island, Newport Beach is $494,000, while the average sale price is $692,967, providing insight into local market trends. On average, multi-family homes spend 122 days on the market before being sold. Multi-family homes encompass various property types, including duplexes, triplexes, fourplexes, and apartment complexes, all within a single building divided to accommodate multiple families living separately. These multi-family properties for sale offer investors the chance to generate rental income. Whether you're interested in a duplex for a starter investment or an apartment complex for a larger-scale venture, there are investment properties available to suit your needs. Explore the range of multi-family homes for sale in Balboa Island, Newport Beach.

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Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information