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Tera Rench

terarenchre@gmail.com +1(262) 370-7299

$2,400,000

Est. payment - /mo

2,178 Sqft Lot

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Key Details

Property Type Multi-Family

Sub Type Triplex

Listing Status Active

Purchase Type For Sale

Subdivision Balboa Peninsula (Residential) (Balp)

MLS Listing ID NP26193591

Construction Status Fixer

HOA Y/N No

Year Built 1941

Lot Size 2,178 Sqft

Property Sub-Type Triplex

Property 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.

Location

State CA

County Orange

Area Np - Balboa Peninsula

Interior

Interior Features Ceiling Fan(s), All Bedrooms Down

Heating Wall Furnace

Cooling None

Flooring Carpet, Tile, Vinyl

Fireplaces Type None

Fireplace No

Appliance Refrigerator

Laundry Inside

Exterior

Parking Features None

Fence Wood

Pool None

Community Features Biking, Curbs, Fishing, Storm Drain(s), Street Lights, Sidewalks, Urban

Utilities Available Electricity Available, Natural Gas Available, Sewer Available, Water Available

Waterfront Description Across the Road from Lake/Ocean,Ocean Access,Ocean Side Of Freeway,Ocean Side Of Highway

View Y/N Yes

View Neighborhood

Roof Type Flat

Private Pool No

Building

Lot Description Value In Land

Faces Southeast

Story 1

Entry Level One

Foundation Slab

Sewer Public Sewer

Water Public

Level or Stories One

New Construction No

Construction Status Fixer

Others

Senior Community No

Tax ID 04802214

Acceptable Financing Cash, Cash to New Loan, Conventional, Submit

Listing Terms Cash, Cash to New Loan, Conventional, Submit

Special Listing Condition Standard

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Listed by Arthur Dorr Balboa Realty 9495009832, DRE #01899740

NEARBY SCHOOL & BUSINESS

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203 6th ST Newport Beach, CA 92661