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$3,150,000 Just Listed

  • For Sale
  • Active
  • Duplex
  • 4 Beds
  • 2 Full Baths
  • 1,552 Sq. Ft.
  • 4 Car Garage
  • Updated 3 days ago
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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.

Full Property Details for 205 42nd St

General

  • Price: $3,150,000
  • Status: Active
  • Type: Duplex
  • Source: MRMLS
  • MLS ID: NP26027772
  • Updated: 2/7/2026
  • Days on Market: 5 days
  • Added to Site: 5 day(s) ago

Interior

  • Rooms/Areas: Kitchen, Living Room
  • Interior Features: Ceiling Fan(s), Furnished
  • Fireplace: Yes
  • Fireplace(s): Outside, Propane, Firepit
  • Appliances: Barbecue, Gas Oven, Gas Range, Refrigerator, Tankless Water Heater
  • Flooring: Laminate

Rooms

Bathrooms

  • Total Bathrooms: 2
  • Full Bathrooms: 2

Bedrooms

  • Total Bedrooms: 4

Other Rooms

  • Laundry: Community, In Garage

Additional Information

  • Pool Description: None

Parking

  • Garage: Yes
  • Garage Spaces: 4
  • Parking: Assigned, Garage, Oversized, Private

Location

  • County: Orange
  • Subdivision: Balboa Peninsula (Residential) (BALP)
  • Driving Directions: W. Balboa Blvd to 42nd Street

School Information

  • School District: Newport Mesa Unified

Community

  • Community Features: Sidewalks, Storm Drains, Street Lights

Heating & Cooling

  • Cooling Type: None

Utilities

  • Sewer: Public Sewer
  • Water: Public

Structural Information

  • Structure Type: Duplex
  • Foundation: Slab
  • Roof: Composition
  • Common Walls: No Common Walls
  • Windows: Double-Pane Windows
  • Disability Access: Parking
  • Entry Location: 1
  • Stories/Levels: Two
  • Stories Description: Two
  • Square Feet: 1,552
  • Sq. Ft. Source: Assessor
  • Year Built: 1947
  • Year Built Source: Assessor
  • Property Condition: Turnkey

Lot Features

  • Property View: Ocean, Peek-a-Boo
  • Lot Size (Acres): 0.06
  • Lot Size (Sq. Ft.): 2,614
  • Lot Size Source: Assessor
  • Lot Description: Corner Lot, Near Public Transit, Park Nearby, Paved
  • Fencing (Description): Block

Financial Considerations

  • Price Per Sq. Ft.: $2,029.64

Disclosures and Reports

  • Special Conditions: Standard

Listed by Compass, Anna Andrews

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Listing agent

— 205 42nd St —

  • Anna Andrews

    Compass

949-274-0132

Get Pre-Approved Today

Be ready to buy your new home!

with our affiliated lender
NMLS#: 1598647

Get Pre-Approved

Be ready to buy your new home!

with our affiliated lender
NMLS#: 1598647

Get Pre-Approved

Schools serving 205 42nd St

School District:Newport-Mesa Unified School District
NameGradesDistance
Newport Elementary School
1327 West Balboa Boulevard, Newport Beach, CA 92661
K-61.4 mi
Horace Ensign Intermediate School
2000 Cliff Drive, Newport Beach, CA 92663
7-81.3 mi
Newport Harbor High School
600 Irvine Avenue, Newport Beach, CA 92663
9-121.4 mi
Disclaimer: School attendance boundaries provided by Pitney Bowes and are for reference only. Contact the school directly to verify enrollment eligibility.

Price & Sales History for 205 42nd St Get Price Alerts and Save Property

Date
Details
Price
Change
Source
2/06/2026
Listed
$3,150,000
88.62%
MLS
9/22/2020
Sold
$1,670,000
—
Public Record
Get Price Alerts and Save Property
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.

Tax History for 205 42nd St

Year
Property Taxes
Change
Tax Assessment
Change
2025
$19,505
2%
$1,807,661
2%
2024
$19,194
2%
$1,772,217
2%
2023
$18,742
2%
$1,737,468
2%
2022
$18,428
2%
$1,703,400
2%
2021
$18,077
438%
$1,670,000
515%
2020
$3,359
2%
$271,451
2%
2019
$3,299
2%
$266,129
2%
2018
$3,237
2%
$260,911
2%
2017
$3,182
2%
$255,796
2%
2016
$3,115
1%
$250,781
2%
2015
$3,083
2%
$247,015
2%
2014
$3,012
1%
$242,177
—
2013
$2,989
—
$241,083
—
View All
Disclaimer: Historical tax information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.

Estimate the Cost for 205 42nd St

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*These costs are estimates, and the interest rates assume exceptional credit standing.

Be ready to buy your new home!

with our affiliated lender
NMLS#: 1598647

Get Pre-Approved

Listed by Compass, Anna Andrews

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205 42nd Street, Newport Beach, CA 92663 (MLS# NP26027772) is a Duplex property with 4 bedrooms and 2 full bathrooms. 205 42nd Street is currently listed for $3,150,000 and was received on February 06, 2026. Want to learn more about 205 42nd Street? Do you have questions about finding other Duplex real estate for sale in Newport Beach? You can browse all Newport Beach real estate or contact a Coldwell Banker agent to request more information.

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