We currently are working with a client that is looking for a beach close property that is just steps to the beach, located in safe neighborhood, no homeowners association dues, near a Pier and within close proximity to great restaurants and shopping. The budget is ideally around $1 million but willing to go up a little higher based on the perfect property. While this sounds like a tall order we were able to find some properties that fit this criteria. One of the currently listed properties that just came on the market is located in the popular Balboa Peninsula area of Newport Beach. It's being advertised that the "property is also zoned for vacation rentals, Air B&B and VRBO" which is a big selling feature for those looking to buy a vacation home. The condo located at 3701 W Balboa Boulevard features a total of two bedrooms, two baths with 1,106 square feet and located on three levels. One of the biggest selling points of the condo is the large roof top deck that has nice ocean views as well as a cute front patio area.
Finding a property that is zoned for vacation rentals can be tricky. Many vacation owners love the idea of being able to rent it out during the off season to capture extra money for the upkeep of the home and to help with the monthly mortgage. Some residents don't like the idea due to a constant coming and going of new tenants that are renting the home. The Balboa Peninsula area is a unique area that offers large numbers of properties in a small dense area with the Pacific Ocean on one side and the Newport Bay on the other. Pretty much no matter where you live on the Pensinula you will be within walking distance to the water. There are great restaurants and shopping in this area with the Newport Beach Pier located nearby. The famous "Wedge" surf break is also located at the very point of the Peninsula that is a very popular spot during the winter months. There is a nice mixture of rental properties with owner occupant homes with the summer months becoming a very desirable location. Real Estate prices for homes in this area currently start at $1,150,000 and go up to nearly $17 million dollars. Summer is fast approaching so please contact us at 949-444-1901 if you are looking to purchase a vacation home in the Newport Beach area.