Outstanding investment opportunity for the buyer with a vision. Just one house to the beach and very close to all the Balboa Peninsula offers. This two story triplex offers exceptional long term rental income, close proximity to the oceanfront and plenty of parking/garage space for all units. Tenants enjoy the use of the laundry room, relaxing areas in the courtyard or front patio. This property has been upgraded over the last 5 years and can be used as rentals yearly or summer/winter rentals to maximize income stream. There are two units with 2 bedrooms and 2 bathrooms and one unit over garage is 1 bedroom and 1 bathroom. All units are currently occupied. Next door is 1213 W. Balboa and is the exact mirror of 1209. Buy one or buy both and create a development project with a high enough build to enjoy white water views year round from the upper units. The highest and best use would be stacked condo's with elevators and balconies. The city of Newport Beach has consulted with an architect on the possible future development of 1209 and 1213 W. Balboa. Hurry because this type of property sells fast in Newport Beach, Balboa Peninsula!