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Balboa Peninsula Point Multifamily Home for Sale

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    $6,690,000

    • 4 Beds
    • 3 Baths
    • 2,310 Sq Ft

    700 E Oceanfront, Newport Beach, CA 92661

    Fabulous remodeled oceanfront getaway, turnkey vacation rental business or BOTH? The choice is yours at 700 E Oceanfront The property presents a fantastic opportunity to own an updated duplex in the heart of the Balboa Peninsula. LOCATION LOCATION LOCATION, this property is near all of the attractions that you and/or your vacation rental guests desire. Steps away from the sand and ocean, the

    Dominic Tucci Pacific Sotheby's Int'l Realty

    700 E Oceanfront, Newport Beach, CA 92661

Why Live in Balboa Peninsula Point

Balboa Peninsula Point in Newport Beach is a vibrant neighborhood known for its waterside recreation and community events. The area is flanked by Newport Bay and the Pacific Ocean, offering diverse activities such as boating, bodysurfing, and boogie boarding, especially near The Wedge, a renowned spot for its significant swells. The neighborhood features a public pier, private beach, and a boat ramp available to residents for a yearly fee. The Peninsula Point Racquet Club provides tennis and pickleball courts, adding to the local amenities. The Balboa Peninsula Point Association, a social club rather than a homeowners association, organizes various events, including an Easter Egg Hunt, Chili Cook-Off, and Fourth of July parade, fostering a strong sense of community. Balboa Village, located on the neighborhood's west side, is a bustling area with the Balboa Fun Zone, numerous restaurants, and shops, attracting around 7 million tourists annually. Notable dining options include Newport Landing Restaurant and Cruisers Pizza Bar Grill. For shopping, residents can visit nearby Balboa Island or Fashion Island. The neighborhood is served by highly rated schools, with Newport Elementary on the peninsula and Ensign Intermediate and Newport Harbor High about 3 miles north. Homes in Balboa Peninsula Point range from 1920s cottages to contemporary builds, often featuring multiple stories, large windows, and verandas to maximize ocean views. The area is safer than the national average, with daily security patrols enhancing the sense of safety.

Home Trends in Balboa Peninsula Point, CA

Housing Trends

Median Sale Price
$6,300,029
Median Single Family Sale Price
$6,712,500
Median Townhouse Sale Price
$4,757,500
Median 2 Bedroom Sale Price
$2,200,000
Average Price Per Sq Ft
$2,766
Number of Homes for Sale
20
Last 12 months Home Sales
34
Months of Supply
7.10
Median List Price
$6,935,000
Median Change From 1st List Price
5%
Median Home Sale Price YoY Change
-12%
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