A Newport Beach vintage home in the Balboa Peninsula neighborhood has just been sold by Beach Cities Real Estate agent Charlie Gilbert who represented the owners of the property. 117 29th Street, Newport Beach sold for $1,365,000 and closed escrow on 1/06/2017. Located in the heart of the Balboa Peninsula, the historic home was built in 1923 and featured two small bungalow style houses on one lot. Both of the houses feature one bedroom and one bath with a one car garage for the back unit. The biggest selling point for this home is the location as it's only located approximately one block to the beach. The home was only on the market for a total of 9 days and sold for the full asking price of $1,365,000. There were multiple offers on this property due to the prime location near the beach.
The Balboa Peninsula is a popular area for residents and tourists alike with the Pacific Ocean located on one side and the Newport Bay on the other. This small strip of land typically will be just a couple block radius in between these two bodies of water. The Newport Beach Pier is located here as well as the famous Wedge surf break. There tends to be a lot of vacation rental properties in this area and can be very busy during the summer months. Homes similar to 117 29th Street in this price range will often sell for land value as many buyers will build a much larger home on the lot. For those interested in looking in the Newport Beach area should contact Charlie Gilbert at 949-400-5071 today.