RARE SHORT TERM RENTAL PERMIT. Gorgeous 2 unit building in the heart of Balboa Village on the Peninsula in Newport Beach. The Second floor features a beautifully renovated approximately 1900 SF 3-bed, 3-bath residential condo with stunning upgrades including oak floors, crown molding, skylights and Carrara marble accents throughout the home. The main living space features a chef's kitchen with stainless steel Thermador appliances, an open floor plan living and dining room with a built-in wine fridge and plenty of natural light with the vaulted ceilings and skylights and a balcony overlooking the courtyard. The bedrooms are located towards the rear of the unit with skylights lining the hallway and an in-unit washer & dryer. The primary bedroom features vaulted ceilings, a patio and an ensuite bathroom with an oversized walk in shower and beautiful marble finishes. The First floor includes approx. 1100 SF of commercial space that can be used as retail, office or flex space. Both upper and lower units open into a serene courtyard. Each unit is metered separately for all utilities. 6 covered garage tandem spaces and an EV charger. Fantastic Location; just half a block from the beach, across the street from the Balboa Fun Zone and close the Balboa Pier. Both Residential and Commercial Condo to be sold together. Current leases are month to month. Property has transferable short term rental permit for the upstairs residential unit. Amazing Value Add Opportunity! Property is also listed under residential income: WS23112288