"One of a Kind" location. Outstanding rare and remarkable residence ideally situated just steps to the water on what was formerly the rear section of a South Bayfront lot that subdivided in 2003. This iconic and classically restored beach house is completely turnkey and is the only Balboa Island home on this kind of corner. This impeccable property provides an abundance of light, serene views of the Bay from both levels and picturesque details throughout. The main floor offers new white oak floors, an expansive living area, large master retreat and a gourmet kitchen with vaulted ceilings, new quartz countertops, fixtures and Wolf appliances. The first floor opens to an expansive outdoor patio with great views of the Bay. The second floor offers a private separate entrance, new white oak floors with a large bedroom, bath, storage, and spectacular views of the Bayfront. Not only is the location of this home rarely available, but it also affords the use of a short-term permit with fantastic rental history and that presents an array of options for the new owner. This luxury home has a new metal roof and approved plans for a large (10'x 20') upstairs deck. Ideally located just one block from Marine Avenue, enjoy easy access to the Island’s downtown shops, dining, and more. Don't miss out on this unique opportunity to obtain what was formerly a part of a Bayfront lot without the Bayfront price.