Jill Madlem IDC Global Agent

Jill Madlem

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License# 00662205
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(951) 768-4773

205 42nd Street, Newport Beach, CA 92663 (Sold on )

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 $3,150,000

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  • 4 BedBeds
  • 2 BathBaths
  • 1,552 SqftSqft
  • TypeSingle Family
  • Active
  • MLS# NP26027772

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Property Description

Incredible investment opportunity in the heart of Newport Beach. This turnkey duplex includes two Short Term Rental Permits that are transferable to the new owner! The property consists of two separate units and an oversized 4-car garage, assuring you will never be without parking at the beach. Located on the Balboa Peninsula, this duplex is just steps to the sandy beach or a short walk to Channel Park on the bay. Each unit offers 2 bedrooms and 1 bathroom with recently updated kitchens and baths. The upper unit, situated above the garage, enjoys ocean breezes, while the lower unit features a private patio with a fire pit, enhancing guest appeal and rental performance. Both units are fully furnished and equipped with modern conveniences including Smart TVs, on-site washer and dryer, towels, linens and beach gear, allowing for immediate, turnkey operation. The property has an established history as a professionally managed vacation rental with consistent income, making it a strong, proven performer. All finishes, furnishings, and household items are in excellent condition. All appliances new as of 2024 including tankless water heater. Recent improvements including new paint, roof, windows, and additional upgrades minimizing near-term capital expenditures. This is a low-maintenance coastal asset located in one of Newport Beach’s strongest rental corridors.

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Jill Madlem

License# 00662205
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Property Details 205 42nd Street, Newport Beach, CA 92663

General

  • MLS#: NP26027772
  • Property Type: Single Family
  • Property Sub Type: Duplex
  • List Date: 02/06/2026
  • Year Built: 1947
  • Area: NP - Balboa Peninsula
  • Subdivision: Balboa Peninsula (Residential) (BALP)
  • County: Orange
  • Beds: 4
  • Full Bath: 2
  • Total Baths: 2
  • Association Fee: $0.00

Interior Features

  • Interior Features: Ceiling Fan(s), Furnished
  • Flooring: Laminate
  • Appliances: Barbecue, Gas Oven, Gas Range, Refrigerator, Tankless Water Heater
  • Window Features: Double Pane Windows
  • Laundry Features: Common Area, In Garage

Exterior Features

  • Community Features: Storm Drain(s), Street Lights, Sidewalks, Park
  • Fencing: Block
  • Private Pool: No
  • Pool Features: None
  • Garage Spaces: 4
  • Exterior Features: Fire Pit
  • Roof: Composition

Schools

  • High School District: Newport Mesa Unified

Structure

  • Stories: 2
  • Attached Garage: Yes

Size & Lot

  • Lot Size Acres: 0.0600
  • Lot Size SqFt: 2,614
  • Lot Features: Corner Lot, Near Park, Near Public Transit, Paved

Utilities

  • Utilities: Cable Connected, Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected
  • Cooling: None
  • Sewer: Public Sewer

Estimated Monthly Mortgage Calculator

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