215 32nd Street, Newport Beach, CA 92663

Property Description

Welcome to an exceptionally rare opportunity to own a trophy asset in one of the most coveted locations in Newport Beach — with an up to 4-year Lease Option to Buy and $260K+ annual rental income from day one. Located at the top of the Balboa Peninsula, just steps from the sand, this newly built 2020 duplex is fully furnished and short-term rental ready — complete with two transferable STR permits and a proven income history. Whether you’re looking to invest, 1031 exchange, or eventually move in, this property offers low entry, high upside, and total flexibility. The property features two beautifully designed, turnkey units: Rear Unit: 5BR / 3.5BA — Private direct access from the 2-car garage, open-concept kitchen and living, large bonus/media room, and a rooftop deck with stunning ocean, city, and mountain views. Front Unit: 3BR / 2.5BA — A charming beachside retreat with a welcoming front porch on 32nd Street, perfect for indoor-outdoor living and entertaining. Additional features include central AC & heat, 4-car parking (2-car garage + 2-car carport), and high-end finishes throughout. Just a short stroll to the beach, Lido Marina Village, the Bayfront, local boutiques, coffee shops, and top-tier dining. Fast access to PCH and nearby freeways. Whether you're an investor seeking immediate income and long-term appreciation, or a future homeowner wanting to lock in your dream home today and buy later—this is a Newport Beach opportunity you don’t want to miss.