Newport Beach - Beach Property For Sale #4748186

EARN INSTANT EQUITY WITH APPROVED PLANS TO ADD A THIRD FLOOR! Perfectly situated on the coveted Balboa Peninsula, this property offers a fantastic opportunity that will double the value of your investment in just 8 months. The APPROVED PLANS show a new roof, new siding, a new inside laundry room on the 2nd floor, new bi-fold doors, new windows, and a new glass elevator that will access all three floors. The addition on the third floor will have a fifth bedroom and full bath, a large California room with beautiful glass walls that open to arguably the largest roof deck in the area. The magnificent rooftop terrace will be an entertainer's dream with its covered and uncovered lounging areas, outdoor kitchen, fire pit, and hot tub with iconic views of Newport Harbor spanning from Mt. Baldy and down the Corona Del Mar coastline. This Cape Cod Contemporary home currently features a large open-concept great room and dining area, a deluxe chef's kitchen with a 60-inch Viking range, a Sub Zero refrigerator, and a large island. The second floor is highlighted by a master bedroom suite with stunning bay views, a generous sitting area, a fireplace, and a wine refrigerator. Two spacious en suite bedrooms and a bedroom/office complete the second level. Last but certainly not least, direct access to your private beach, dock, and boat slip that can accommodate a 60-foot boat.