$5,810,000
$6,400,000
9.2%For more information regarding the value of a property, please contact us for a free consultation.
5 Beds
3 Baths
2,370 SqFt
SOLD DATE : 05/13/2026
Key Details
Sold Price $5,810,000
Property Type Multi-Family
Sub Type Duplex
Listing Status Sold
Purchase Type For Sale
Square Footage 2,370 sqft
Price per Sqft $2,451
Subdivision Balboa Island - Main Island (Balm)
MLS Listing ID NP25097121
Sold Date 05/13/26
Bedrooms 5
Full Baths 1
Half Baths 1
Three Quarter Bath 1
HOA Y/N No
Year Built 1938
Lot Size 5,100 Sqft
Lot Dimensions Public Records
Property Sub-Type Duplex
Property Description
DEVELOPER'S DREAM! Rare Opportunity to Develop 2 Side-by-Side Balboa Island Lots! In a desirable mid-Island location,126 & 124 Sapphire Ave, 2 parcels with separate APN numbers, at the corner of Park and Sapphire, have a combined total of app 5100 sqft. Convenient to Marine Ave shopping and dining, within a short walk to the Balboa Ferry, all that Balboa Island has to offer is walkable, and with less congestion.
126 Sapphire: At the corner of Park Ave, this family Duplex reportedly built in 1938, has been modified and expanded over almost 9 decades with unknown permit history. Now a “TEAR DOWN” on an approx. 2550-2614 sqft lot., the 2-story front house was configured with up to 4 bedrooms, 1 1/2 bathrooms, 2 kitchen areas and a den. Upstairs in the rear is a unit of unknown sqft with up to 3 bedrooms & 1 bathroom.
124 Sapphire: The adjacent parcel is reported to be 2,550 sqft, best described as a vacant lot with covered storage/patios and open space. SELLER WILL ONLY CONSIDER SALE OF THE 2 PARCELS TO ONE BUYER. Sale of the 2 parcels is to be contingent upon concurrent closing of both parcels to a single buyer/builder/developer, thus creating a once-in-a-lifetime opportunity with endless possibilities for the right buyer.
Location
State CA
County Orange
Area N9 - Lower Newport Bay - Balboa Island
Interior
Cooling See Remarks
Fireplaces Type See Remarks
Fireplace Yes
Laundry See Remarks
Exterior
Parking Features On Street
Pool None
Community Features Curbs, Gutter(s), Storm Drain(s), Street Lights, Sidewalks
View Y/N No
View None
Private Pool No
Building
Lot Description Tear Down, Value In Land
Story 2
Entry Level Two
Sewer Public Sewer
Water Public
Level or Stories Two
New Construction No
Schools
Elementary Schools Lincoln
Middle Schools Corona Del Mar
High Schools Corona Del Mar
School District Newport Mesa Unified
Others
Senior Community No
Tax ID 05011101
Acceptable Financing Cash, Cash to New Loan
Listing Terms Cash, Cash to New Loan
Financing Cash to New Loan
Special Listing Condition Trust
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Nearby Locations
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2747 E COAST HWY Unit 200, CORONA DEL MAR, California, 92625, USA