Vacation rental duplex ready with two short-term rental permits of the City of Newport Beach (Short-term rental permits are very limited and no additions in near future). This modern beautiful duplex located in the heart of the picturesque Balboa Peninsula, ten homes from the beach within the famed one block from the sparkling sand and sea. It comprises of two fully furnished units spanning 2474 Sq/Ft., and has been remodeled and re-piped in 2021. Unit A is a spectacular, open-floor 2 bedroom, 2 bathroom with an array of upgrades and exceptional materials including Nest thermostats, recessed lighting, stainless steel appliances, custom cabinet, designer subway tile backsplashes, and newer quartz countertops. Unit B is a remarkable, refined and upgraded with 3 bedroom, 2 bathroom, spacious dining area, and balcony with a BBQ servicing the opulent living room. Additional features include Dutch entry doors, custom designer tiles, luxury vinyl plank flooring throughout both units and 2 car garage. This is your chance to own property in the famous harborside community of Balboa Peninsula, with shopping, world-class dining and a world-famous boardwalk just moments away. The property has stellar established gross rental history, with gross income at approximately $195,000. This property provides tremendous opportunity for stable and steady income and existing reservations are already in place through Summer 2023.