Newport Beach - Beach Property For Sale #7660600

Outstanding mixed-use building in an incredible corner-lot location on Balboa Island. This historic property is one of the most recognizable buildings on Marine Avenue, dating back to the 1930s, and has been completely remodeled within the past few years. The office is turnkey and well maintained, offering three exceptional units, including a main unit with spacious vaulted ceilings, one private office, ample desk area, kitchenette, bathroom, and conference room, plus two additional units with separate entrances along Park Avenue. Current total gross rents are approximately $22,000 per month, with agreed-upon extensions projected to potentially increase to over $26,000 per month in gross income, providing strong, stable income. The property is low maintenance with low operating costs and benefits from excellent long-term tenants, producing net income of over $200,000 in 2025. Whether for an investor or owner-user, this is a rare opportunity to acquire a classic piece of Balboa Island architecture in a premier corner location with outstanding visibility, an abundance of commercial traffic and exposure, along with potential for future residential development.