$5,990,000
700 E OceanfrontNewport Beach, CA 92661Balboa Peninsula (Residential)
111 38th, Newport Beach, CA 92663
- 2,959 sq ft
- Built 1963
$5,995,000
Est. $39,830/mo with 20% down, 30-year fixed
$2,026 a sq ft against a $2,486 Balboa Peninsula (Residential) median. Ask how it comparesSubdivision Balboa Peninsula (Residential)
7 duplexes sold in the past 12 months · median $6,600,000
Open house
Open Houses
The home
About 111 38th
Just three houses from the beach on Newport Beach’s Balboa Peninsula, this beautifully renovated oceanview duplex combines quality, location and a proven rental track record. With two rare short-term rental permits and over $320,000 in seller-reported gross rental income in 2025, along with multiple weeks reserved for personal use, this is an incredible opportunity to own an established coastal investment in a highly desirable beachside setting.
The first-floor residence features two bedrooms and one bathroom, while the second-floor residence offers three bedrooms and two bathrooms. Each has its own kitchen, living room and dining area, providing flexibility for vacation rentals, personal use or gathering family and friends with space and privacy.
Bright interiors and tasteful renovations create a relaxed, welcoming atmosphere throughout both residences. Modern kitchens feature stainless steel appliances, wine refrigerators and islands with bar seating. Comfortable living and dining areas connect with inviting outdoor spaces, including an upper deck, a generous lower patio and an outdoor fire pit with built-in seating. From morning coffee to outdoor dining after a day at the beach, the property is designed to make the most of its coastal location.
Two assigned parking spaces, one for each residence, make it easy to arrive, park and walk. The sand, surf and oceanfront boardwalk are close by, along with neighborhood restaurants, cafés and shopping. Enjoy bike rides along the Peninsula, dining near Newport Pier and exploring the boutiques and waterfront restaurants of nearby Lido Marina Village.
Currently managed by AvantStay, the residences may be rented individually or together. Enjoy one while renting the other, bring both together for personal use, or continue operating the property as a vacation rental investment. The approximate cap rate is 4.2%, excluding potential rental income from owner-reserved weeks and other projected income increases.
Short-term rental permits: SLP13962 and SLP13963. Buyer to verify all property information, rental financials, operating expenses, permit status and transferability.
Property details for 111 38th
This duplex sits in the Balboa Peninsula (Residential) neighborhood of Newport Beach in Orange County. It has 2,959 square feet of living space and is listed at $5,995,000, about $2,026 per square foot. The home was built in 1963. The MLS record lists the assessor parcel number as 423-322-12. Highlights include ocean views, central air, and a turnkey home.
Photographs
Photos of 111 38th, Newport Beach
Specifications
Home Details
General Features
- Property Type
- Duplex
- MLS Number
- PW26233559
- Year Built
- 1963
- Lot Size (sq ft)
- 3,598
- Lot Size (acres)
- 0.0826
- Levels
- Two
- Parking Spaces
- 2
- View
- Ocean
- Parcel Number
- 42332212
- On Market Date
- 2026-10-30
- Listing Terms
- Standard
Interior Features
- Interior Features
- Balcony, Ceiling Fans, Cathedral Ceilings, Open Floorplan, Stone Counters, Walk In Closets
- Appliances
- Dishwasher, Gas Cooktop, Gas Oven, Microwave, Washer
- Flooring
- Vinyl, Wood
- Heating
- Central
- Cooling
- Central Air
- Fireplace
- None
- Laundry
- Laundry Room
- Entry Level
- 1
- Common Walls
- No Common Walls
- Windows
- Insulated Windows
- Doors
- Panel Doors, Sliding Doors
- Accessibility
- Other
- Rooms
- Other, Primary Bedroom, Laundry, Kitchen, Living Room, Primary Bathroom
Exterior Features
- Architectural Style
- See Remarks
- Exterior Features
- Lighting
- Roof
- Asphalt
- Construction
- Hardiplank Type
- Foundation
- See Remarks
- Lot Features
- Near Park
- Parking
- Attached Carport
- Fencing
- Good Condition
- Pool Features
- None
- Spa
- None
- Sewer
- Public Sewer
- Water
- Public
- Utilities
- Cable Connected, Electricity Connected, Phone Available, Sewer Connected, Water Connected
- Condition
- Turnkey
- Faces
- South
- Units
- 2
Community Features
- Subdivision
- Balboa Peninsula (Residential) (BALP)
- Community Features
- Biking, Curbs, Street Lights, Sidewalks, Park
- Security
- Carbon Monoxide Detectors
The record
Property History for 111 38th
| Date | Event | Price | Note |
|---|---|---|---|
| Oct 30, 2026 | Listed for sale | $5,995,000 | |
| Feb 6, 2024 | Sold | $5,150,000 | Lido Realty Inc. |
| Oct 15, 2014 | Sold | $1,867,500 | Surterre Properties Inc. |
Cost of ownership
Estimated monthly payment
7.24% · 30-yr fixed$
$46,163/mo
10% down · 30-year fixed · $599,500 down
Principal & interest$36,770
Mortgage insurance (est., over 80% LTV)$2,248
Property tax (est. 1.08%)$5,396
Home insurance (rough est., varies widely)$1,749
HOANot reported, not included
$39,830/mo
20% down · 30-year fixed · $1,199,000 down
Principal & interest$32,685
Property tax (est. 1.08%)$5,396
Home insurance (rough est., varies widely)$1,749
HOANot reported, not included
$35,744/mo
30% down · 30-year fixed · $1,798,500 down
Principal & interest$28,599
Property tax (est. 1.08%)$5,396
Home insurance (rough est., varies widely)$1,749
HOANot reported, not included
Estimated carrying cost
$7,145/mo
All cash · taxes and insurance only
Principal & interestNone (cash purchase)
Property tax (est. 1.08%)$5,396
Home insurance (rough est., varies widely)$1,749
HOANot reported, not included
Estimate only, not a loan offer or quote. Principal and interest use the Freddie Mac 30-year fixed average of 7.24% (week of Oct 29, 2026); your rate will differ. A loan this size is typically a jumbo loan, which prices differently. Tax and insurance are modelled, not billed amounts; tax uses a typical Newport Beach rate, excluding Mello-Roos. Verify all figures. Full assumptions and disclosures.
Next steps
Buying 111 38th
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Selling near 111 38th
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The neighborhood
About Newport Beach
Set along the Pacific in Orange County, Newport Beach surrounds Newport Harbor, where Balboa Island, Lido Isle, and the Balboa Peninsula frame one of California's largest recreational harbors. The city stretches from the Balboa and Newport piers to Corona del Mar and Fashion Island, within the Newport-Mesa Unified School District.
Balboa Peninsula (Residential) home sales, past 12 months
- Homes sold
- 7
- Median price
- $6,600,000
- Median days on market
- 12
- Median per sq ft
- $2,486
Recorded MLS closings of duplexes, Oct 23, 2025 to Oct 23, 2026. Days on market run from listing to going under contract.
Price per square foot against recent Balboa Peninsula (Residential) sales
At $2,026 per square foot, this home's asking price is 19% below the Balboa Peninsula (Residential) median of $2,486 for duplexes that closed in the past 12 months.
Recent Balboa Peninsula (Residential) sales
| Address | Closed | Price | Sq ft | Per sq ft | Days on market |
|---|---|---|---|---|---|
| 5901 Seashore Drive | Jul 31, 2026 | $9,500,000 | 3,185 | $2,983 | 40 |
| 213 33rd Street | May 28, 2026 | $2,616,000 | 1,451 | $1,803 | 7 |
| 1204 E Balboa Boulevard | Feb 5, 2026 | $6,600,000 | 2,516 | $2,623 | 183 |
| 4103 Seashore | Jan 8, 2026 | $9,200,000 | 2,724 | $3,377 | 31 |
| 4208 River | Dec 16, 2025 | $4,350,000 | 1,750 | $2,486 | 6 |
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Location
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Listed by Lawrence Cech of Keller Williams Coastal Prop.
Listing information updated Oct 30, 2026 at 4:22 PM PT. Source: CRMLS.
This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. The display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, the Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.