$3,150,000

205 42nd Street, Newport Beach, CA 92663

  • 4 beds |
  • 2 baths |
  • 1,552 sqft
  • Property Icon Duplex
  • Property Year Built Icon Built in 1947
  • Property Lot Size Icon2,614sqft lot
  • Property Parking Icon 4 car garage
  • Property Price Per Square Feet Icon $2,030/sqft
  • Property List Date Icon Listed 3 months ago

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.

Listing Status:
Active
Date Added:
February 6, 2026
Data Last Updated:
May 20, 2026 at 3:16PM
Listing Office:
Compass : 949-438-4340
Listing Agent:
Anna Andrews : 949-274-0132
MLS ID:
NP26027772
  • General: Ceiling Fan(s)Furnished
  • Appliances: BarbecueGas OvenGas RangeRefrigeratorTankless Water Heater
  • Laundry: Common AreaIn Garage
  • Flooring: Laminate
  • A/C: None
  • Fireplace: OutsidePropaneFireplace
  • Disability Feature: Parking
  • General: Fire Pit
  • Pool: None
  • Parking: AssignedGarageOversizedPrivateParking spaces: 4
  • Roofing: Composition
  • Windows: Double Pane Windows
  • General: 2Slab
  • HOA Amenities: 0.0
  • Originating MLS: CRMLS_CRM
  • School District: Newport Mesa Unified
  • County: Orange
  • Zoning: 42329608
  • View: OceanPeek-A-BooView
  • Fencing: Block
  • Utilities: Cable ConnectedElectricity ConnectedNatural Gas ConnectedSewer ConnectedWater Connected
  • Water: Public
  • Sewer: Public Sewer
  • Source: CRMLS_CRM

This listing courtesy of Anna Andrews , Compass

Monthly Payment

$Est. Payment
  • Principal & Interest $
  • Property Taxes $
  • Home Insurance $
  • VA Funding Fee $

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Location

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  • 4 bed |
  • 3 bath |
  • 1,804 sqft |
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#NP26063265 - Compass