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Completed in 2023 and spanning approximately 4,760 square feet, the property consists of two beautifully designed residences, each offering approximately 2,380 square feet with five bedrooms and six bathrooms across three thoughtfully designed levels.\r\n\r\n506 was well thought out, offering en-suite bedrooms, inviting fireplaces, and expansive sliding glass doors that create a seamless connection between indoor and outdoor spaces. Private balconies extend from the primary suites and main living areas, while expansive rooftop decks with east and west exposures provide the perfect setting for entertaining, enjoying the ocean breeze, and taking in spectacular coastal sunsets.\r\n\r\n Live in one and generate income from the other, maintain a combination of short- and long-term rentals, or operate the property entirely as an investment\u2014the flexibility here is exceptionally difficult to replicate in Newport Beach.\r\n\r\nUnit A holds a coveted Newport Beach short-term rental permit and has demonstrated impressive rental performance. From January through May 2026, Unit A generated approximately $150,000 in gross rental revenue. Summer is traditionally an even stronger rental period, with June through August historically generating approximately $28,000 per month in net income.\r\n\r\nUnit B is currently leased at $15,000 per month under a two-year lease, providing the property with an established long-term income stream alongside Unit A's short-term rental potential.\r\n\r\nFor an owner-user, the opportunity is equally compelling: occupy one luxury residence while the neighboring unit produces significant income. For an investor, the combination of an existing long-term lease, an active short-term rental permit, and two nearly new luxury residences creates multiple avenues for income and long-term value.\r\n\r\nThe location completes the offering. 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Completed in 2023 and spanning approximately 4,760 square feet, the property consists of two beautifully designed residences, each offering approximately 2,380 square feet with five bedrooms and six bathrooms across three thoughtfully designed levels.\r\n\r\n506 was well thought out, offering en-suite bedrooms, inviting fireplaces, and expansive sliding glass doors that create a seamless connection between indoor and outdoor spaces. Private balconies extend from the primary suites and main living areas, while expansive rooftop decks with east and west exposures provide the perfect setting for entertaining, enjoying the ocean breeze, and taking in spectacular coastal sunsets.\r\n\r\n Live in one and generate income from the other, maintain a combination of short- and long-term rentals, or operate the property entirely as an investment\u2014the flexibility here is exceptionally difficult to replicate in Newport Beach.\r\n\r\nUnit A holds a coveted Newport Beach short-term rental permit and has demonstrated impressive rental performance. From January through May 2026, Unit A generated approximately $150,000 in gross rental revenue. Summer is traditionally an even stronger rental period, with June through August historically generating approximately $28,000 per month in net income.\r\n\r\nUnit B is currently leased at $15,000 per month under a two-year lease, providing the property with an established long-term income stream alongside Unit A's short-term rental potential.\r\n\r\nFor an owner-user, the opportunity is equally compelling: occupy one luxury residence while the neighboring unit produces significant income. For an investor, the combination of an existing long-term lease, an active short-term rental permit, and two nearly new luxury residences creates multiple avenues for income and long-term value.\r\n\r\nThe location completes the offering. Enjoy immediate access to the best of Newport Beach, from the marina and beaches to the acclaimed shopping and dining of Lido Marina Village, with Balboa Pier, the Balboa Fun Zone, waterfront restaurants, and the energy of the peninsula all just minutes away.\r\n\r\nEach residence also features central air and heating, private laundry, and its own two-car tandem garage, providing the conveniences expected from newly constructed luxury coastal residences.\r\n\r\nRare Opportunity! 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Ideally located, to the beach and sand with shopping close by, with being just a few steps from the sand, it offers a peek-a-boo view of the ocean. With a rare short-term rental permit, this property presents a unique opportunity for flexible living or income generation. The lower unit features 2 spacious bedrooms, 1 full bathroom, and could possibly have another bathroom added downstairs a fully equipped kitchen, and a private patio\u2014ideal for relaxed coastal living. The upper unit boasts 4 bedrooms, 2 bathrooms, and has two separate entrances to the upstairs a full kitchen, formal dining area, and two expansive patios for enjoying ocean breezes and sunset views. Additional features include: 2-car garage plus 1 covered parking space laundry room (separate from the units) Ideal for multi-generational living, vacation rental income, or a primary residence with guest accommodations. 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Built in 2019 and located within the contemporary Lido Villas community, this sophisticated 2-bedroom plus loft, 2.5-bath residence blends modern design with an effortless indoor-outdoor lifestyle. Light-filled interiors unfold across an open-concept living and dining space with expansive windows, a sleek chef's kitchen with oversized island and stainless steel appliances. The 1st floor offers an en-suite oversized bedroom with private patio. The generously sized primary retreat is located next to the loft offers many functions. Above, a private rooftop deck creates an exceptional setting for entertaining, dining alfresco, or unwinding in the coastal air, while a private 2-car garage adds convenience rarely found in such a sought after destination. 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Spanning three impeccably crafted levels connected by a private elevator, the home gracefully blends architectural detail with enhanced seaside living. The flexible floor plan features three ensuite bedrooms, a custom office or optional fourth bedroom, and five luxurious bathrooms. Nine-foot ceilings, rich oak flooring, custom finish carpentry, custom windows with designer shades and plantation shutters, and two marble-clad fireplaces create a refined yet welcoming interior. Expansive sliding glass doors seamlessly connect the elegant interiors to inviting outdoor living. At the heart of the home, the chef\u2019s kitchen showcases Calacatta Borghini marble countertops, a striking mosaic marble backsplash, honed natural stone, bespoke custom cabinetry, Sub-Zero refrigeration, and Wolf professional appliances, including a 48-inch range, convection and steam ovens, a built-in espresso system, and a walk-in pantry designed for effortless entertaining. 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Finding a three car garage in this area is a rare luxury, adding incredible convenience to the property. Accommodating family and guests is a breeze with a dedicated main level bedroom and four more private bedrooms upstairs. Situated on the sunny side of the neighborhood, you are granted access to fantastic community amenities like a yacht club, tennis courts, a private beach, and beautiful scenic walkways. Best of all, the oceanfront and the upscale atmosphere of Lido Marina Village are only a stone's throw away. 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