A rare investment opportunity just steps from the sand on the 100 block of Newport Beach's Balboa Peninsula. Located at 125 41st Street, this 1,620-square-foot duplex features two 2-bedroom, 1-bath units on a 2,550-square-foot lot and offers an exceptional combination of immediate income potential, coveted short-term rental use, and future development opportunity. Currently operated as a short-term rental property, the offering includes two highly desirable short-term rental permits, providing the potential for substantial annual gross rental income. The existing duplex configuration offers flexibility for investors seeking continued vacation-rental income, a beach property with multiple residences, or a longer-term hold in one of Newport Beach's most sought-after coastal locations. Beyond its current use, the property presents compelling redevelopment potential. The 30' x 85' lot offers the opportunity to re-imagine the site with two new-construction condominiums, allowing a future owner to significantly improve the property while capitalizing on its exceptional Peninsula location. Just a short walk from the beach, surf, boardwalk and the best of the Newport Beach lifestyle, 125 41st Street represents an increasingly difficult-to-replicate combination: two residences, two short-term rental permits, strong income potential, and future development upside-all just steps from the sand.