FANTASTIC WATERFRONT INVESTMENT OPPORTUNITY INCLUDES FULLY APPROVED PLANS! Ideally located right on the bay with the absolute best views of the Newport Harbor and a private dock that will accommodate a 65 ft yacht. The Balboa Island Ferry, the world-famous body surfing spot known as "the Wedge", the Balboa Pier, the oceanfront Balboa Peninsula Park, and restaurants are just steps away from your home. This 4 bed / 4 bath turnkey property features a chef's kitchen with a large island, a 60-inch Viking range, Sub Zero refrigerator, a warming drawer, and double ovens perfect for culinary creations and entertaining. Ample counters and cabinet space are complemented by an extensive bi-level bar with seating. The Primary Suite epitomizes luxury living with a large sitting area, wine refrigerator, and a balcony with magnificent views where you can unwind and soak in the sights and sounds of the harbor. With high vaulted ceilings, plantation shutters, abundant custom built-ins, two walk-in closets, and a spa-like bathroom featuring dual vanity, vaulted ceilings, a soaking tub, and an oversized walk-in shower. Additional upstairs living spaces include two spacious en suites with private bathrooms and large closets and a versatile 4th flex room that can serve as an office or bedroom. This home is the perfect place to relax and enjoy the fun of California coastal living with your private beach, a boat dock, and a private boat slip that can accommodate a 65 ft yacht or easily be reconfigured to allow an even larger boat. Whether lounging in the sun, hosting boat parade parties, or hopping on the Duffy boat for a sunset ride, this bay-front home is a perfect investment or rental property. FULLY APPROVED PERMIT READY PLANS are included for the addition of a third-floor bedroom, bathroom, and a large California room with glass walls that open to arguably the largest roof deck in the area. The magnificent rooftop terrace will be an entertainer's dream with its covered and uncovered lounging areas, outdoor kitchen, fire pit, and hot tub overlooking the Newport Harbor. Don't miss this amazing opportunity to increase the equity substantially!