111 38th, Newport Beach, CA 92663
- $5,995,000
- List Price
- $5,995,000
- Status
- ACTIVE
- MLS#
- PW26233559
- Year Built
- 1963
- Lot Size
- 3,598
- Acres
- 0.08
- Lot Location
- Near Park
- Days on Market
- 1
- Property Type
- Multifamily
- Style
- See Remarks
- Property Sub Type
- Duplex
- Stories
- Two Levels
- Neighborhood
- Balboa Peninsula (Residential) (Balp)
Property Description
Just three houses from the beach on Newport Beach’s Balboa Peninsula, this beautifully renovated oceanview duplex combines quality, location and a proven rental track record. With two rare short-term rental permits and over $320,000 in seller-reported gross rental income in 2025, along with multiple weeks reserved for personal use, this is an incredible opportunity to own an established coastal investment in a highly desirable beachside setting. The first-floor residence features two bedrooms and one bathroom, while the second-floor residence offers three bedrooms and two bathrooms. Each has its own kitchen, living room and dining area, providing flexibility for vacation rentals, personal use or gathering family and friends with space and privacy. Bright interiors and tasteful renovations create a relaxed, welcoming atmosphere throughout both residences. Modern kitchens feature stainless steel appliances, wine refrigerators and islands with bar seating. Comfortable living and dining areas connect with inviting outdoor spaces, including an upper deck, a generous lower patio and an outdoor fire pit with built-in seating. From morning coffee to outdoor dining after a day at the beach, the property is designed to make the most of its coastal location. Two assigned parking spaces, one for each residence, make it easy to arrive, park and walk. The sand, surf and oceanfront boardwalk are close by, along with neighborhood restaurants, cafés and shopping. Enjoy bike rides along the Peninsula, dining near Newport Pier and exploring the boutiques and waterfront restaurants of nearby Lido Marina Village. Currently managed by AvantStay, the residences may be rented individually or together. Enjoy one while renting the other, bring both together for personal use, or continue operating the property as a vacation rental investment. The approximate cap rate is 4.2%, excluding potential rental income from owner-reserved weeks and other projected income increases. Short-term rental permits: SLP13962 and SLP13963. Buyer to verify all property information, rental financials, operating expenses, permit status and transferability.
Additional Information
- Other Buildings
- Storage
- Appliances
- Dishwasher, Gas Cooktop, Gas Oven, Microwave, Washer
- Pool Description
- None
- Heat
- Central
- Cooling
- Yes
- Cooling Description
- Central Air
- View
- Ocean
- Exterior Construction
- HardiPlank Type
- Roof
- Asphalt
- Sewer
- Public Sewer
- Water
- Public
- Interior Features
- Balcony, Ceiling Fan(s), Cathedral Ceiling(s), Open Floorplan, Stone Counters, Walk-In Closet(s)
- Attached Structure
- Detached
- Number Of Units Total
- 2
- Gross Scheduled Income
- $321,151
- Operating Expense
- 72512
Listing courtesy of Listing Agent: Lawrence Cech (LarryCech@gmail.com) from Listing Office: Keller Williams Coastal Prop..
How much is your home worth?
...get FREE instant property value now!
Mortgage Calculator
Based on information from California Regional Multiple Listing Service, Inc. as of . This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.