Balboa Island Real Estate
Purchasing Real Estate on Balboa Island is far more complex than you can possibly imagine. It takes years of experience to have an in-depth understanding of all things to consider regarding real estate on Balboa Island. With 17 years of experience in this industry, I can attest that the community of Balboa Island is most unique when compared to other communities in Newport Beach. It’s not as black and white and there are many things that can simply go unnoticed until you purchase here and then slowly learn the pros and cons of each street, location and things you may have never considered that would have played a role in your purchase. Many of the main talking points and things to consider when purchasing real estate on Balboa Island are covered below. If you haven’t found the answer you are looking for, please contact me directly!
CELL: 949.375.4430 | EMAIL: firstname.lastname@example.org
Better yet, stop by my office and say hi! My office is located at 208 Marine Ave, next to the Post Office.
Balboa Island Population – Residents vs. Vacation Homes and Investment Properties
LOTS of Information… How Many Lots and what is the Zoning?
There are 1414 Lots on Balboa Island. Almost all lots are zone R-1.5 which is residential-multifamily. There are commercial zoned properties in the 200 and 300 Blocks of Marine Ave and the 100 Block of Agate Ave.
According to the Island Post Office, there are 1756 mailing addresses. 1648 are considered residential and 108 considered business. On average, this would equate to about 1/3 of the 1414 lots having a second unit.
Short Term Vacation Rentals, Permits & Investment Properties
Balboa Island Property Taxes
Balboa Island Property Taxes are are about 1.05% of the immediate purchase price/newly assessed value. On a $2,000,000 purchase (current lot value/tear down pricing), you would pay an estimated $21,000 in annual property taxes. If you bought new construction for about $4,000,000 you would be paying an estimated $42,000/year in property taxes for your Balboa Island home. As hefty as the current taxes can be for new buyers, there are great rewards for long term ownership due to Prop 13, which has been in play since 1978. Prop 13 keep the max increase in assessed property value capped at 2% per year. In, California where we see an 8% annual appreciation (based on 30 year average), your property values can see meteoric rises, while your property tax remains extremely low. It’s not uncommon to see original owners who are paying less than a couple thousand a year in property taxes.
What is the Feeling & Culture of Balboa Island?
It’s that “Happy Place”, that instant feeling of peace and enjoyment that you feel every time you cross the Marine Ave bridge or take the ferry over to the island from Balboa peninsula. You know you have arrived and everything feels content and safe. For many, the island is a home away from home… the place they come for a weeklong vacation every year, for countless years. For others, it’s the perfect place to heal and find recovery from other hardships in life. As one of the largest and most valuable communities in terms of Luxury Real Estate on Southern California’s west coast, it sits in the center of Newport Beach’s active and truly magnificent harbor life. If you love water and all things nautical, it simply doesn’t get much better than this. More unique aspects of this community are the quaint, 2 blocks of charming dining and retail which draws foot traffic and fame from all over the world. It’s the largest island in Newport Harbor and the only one that has ferry access to the peninsula/oceanfront. It is full of amazing history. It has it’s own fire station and post office. It blossoms in spirit and love for the holidays and many long lasting community events. Each holiday there are decorating contests and community events/involvement like no other. As much net worth that exists on the island, there is nothing pretentious about it. Conversations are about you, your family, fun events and seldom begin with “What do you do”? There is an instant camaraderie amongst island residents, families that enjoy ruby beach, fans of USC or UCLA and never ending dinner invites and social gatherings from neighbors that love to enjoy life. An island full of smiles and good hearted people. You just have to come and feel it for yourself. Make a trip, stay in a vacation rental, submerse your self in the culture and experience it for yourself. I personally grew up in the midwest and for me, this is the one community in Newport Beach that feels closest to home.
Is Balboa Island Old Money or New Money?
Balboa Island Ferry
Parking and Traffic
Are Golf Carts Legal? Pros & Cons
Is Balboa Island on Leased Land or is it Fee Simple?
Does Balboa Island Have an HOA?
BIIA – Balboa Island Improvement Association
Balboa Island Merchant Association
Private Docks, Shore Moorings, Renting Dock Space and More!
Balboa Island Perimeter – Distance Around The Islands
Mostly 3 Blocks Wide – 100, 200, 300
Odd Addresses are West; Even Addresses are East
Telephone Poles & Under-Grounding
John Wayne (SNA) Orange County Airport Airplane Noise
Flood Zone and Flood Insurance on Balboa Island
Seawall History and Future on Balboa Island
North Bay Front vs. South Bay Front vs. East Bay Front
Proximity to The Action on Marine Ave and South Bay Front
Little Island Premium
Collins Island – No Longer Collins Castle
1031 Exchanges | Deferred Property Taxes
Balboa Island Garage Sale
One of the largest community events on Balboa Island is the island-wide community garage sale! This event has been going on for about 30 years. It’s a fun time to do a spring clean and simultaneously attracts thousands of shoppers to the island for a very fun day of garage sales and supporting local merchants. Luxury Real Estate is the host and main sponsor of the event. They also coordinate an extensive raffle/giveaway of big items like $1,000 VESL Paddleboard Packages and a range of other items donated from merchants. You can get all the details here! www.balboaisland.com/garage-sale
Balboa Island Events
Balboa Island is likely the most “event-full” community in Newport Beach and attracts tourism from all over Orange County, Los Angeles and San Diego due to the nearby populations looking for exciting events. It’s a great dating and family destination as well. A few popular events are the Christmas Tree Lighting, Holiday Home Tour, Island Artwork, Community Garage Sale, Summer Parade, End of Summer Carnival, Halloween Trick or Treating, Christmas Boat Parade, and so on. We are always working with local residents, merchants and organizations to come up with more fun events! You can get all the event details here! www.balboaisland.com/events
Things to Do – Endless Recreation
Balboa Island is ultimately a big playground offering so many fund things to do. It’s a great dating and family destination for this very reason. From Duffy Boat Rentals to Paddleboarding, Whale Watching, getting Balboa Bars and Frozen Bananas to Riding the Ferry and hitting the beach or Fun Zone, the fun literally never ends. You can get all the activity details here! www.balboaisland.com/play
Standard Lot Sizes for Interior and Bay Front
Lot Value | Tear Down Pricing on Lots
Most Magnificent Properties on Balboa Island
An Island of Precious Gemstones
Did you realize that the street names on Balboa Island are all named after Precious Gemstones? This is true with the exception of the following streets/addresses: Bay Front, Collins, Marine, Balboa, Park, and Grand Canal.
Here is a list of All Balboa Island Street Names
- Collins Is
- E Bay Front
- Grand Canal
- N Bay Front
- S Bay Front
The Rodeo Drive of Newport Beach and Orange County
Balboa Island Realtors
Balboa Island Architects and Builders
Cost to Build on Balboa Island
California Housing Crisis
Steve Roose | Luxury Real Estate
Off-Market Discount Sales with Broker for Dual Representation Discount