Situated on the highly sought-after "Quiet End" of Balboa Island, 118 Emerald Avenue represents a truly rare opportunity to own in one of the island's most desirable and tightly held locations"”less than one block from the harbor and south bayfront.
This is one the last remaining original beach cottage on the 100 Block of Emerald, offering a unique blend of classic coastal charm, immediate usability, and long-term upside potential. Properties of this caliber and positioning seldom come to market.
Currently configured as a duplex with two active short-term rental permits, the property provides exceptional flexibility for both personal enjoyment and income generation.
The front unit is a charming single-story 2-bedroom, 1-bath coastal cottage, featuring a spacious front patio framed by a white picket fence"”ideal for relaxing, entertaining, and enjoying the quintessential Balboa Island lifestyle.
The rear unit offers a 3-bedroom, 2-bath split-level layout, complemented by a private 2-car garage, vaulted spatial flow, and functional separation for guests, tenants, or extended family.
Both units are move-in ready, allowing for immediate occupancy or rental income. Alternatively, this property presents a compelling opportunity to design and build a custom luxury residence in an A+ location with enduring value.
Property Type(s):
Single Family
Price History
|
Prior to Jun 1, '26
|
$3,799,000 |
| Jun 1, '26 - Today |
$3,649,000 |
Additional Details
| AIR |
Wall/Window Unit(s) |
| AIR CONDITIONING |
Yes |
| APPLIANCES |
Gas Oven, Gas Range |
| AREA |
N9 - Lower Newport Bay - Balboa Island |
| CONSTRUCTION |
Wood Siding |
| EXTERIOR |
Awning(s) |
| FIREPLACE |
Yes |
| GARAGE |
Attached Garage, Yes |
| HEAT |
Wall Furnace |
| LOT |
2614 sq ft |
| LOT DIMENSIONS |
2614 |
| PARKING |
Attached, Garage, Garage Faces Rear |
| POOL DESCRIPTION |
None |
| SEWER |
Public Sewer |
| STORIES |
2 |
| STYLE |
Cottage |
| SUBDIVISION |
Balboa Island - Main Island (BALM) |
| UTILITIES |
Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected |
| VIEW DESCRIPTION |
None |
| WATER |
Public |
Location
Listed with Balboa Island Estates
The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable copyright laws. Information provided is for viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and CRMLS and its affiliates do not warrant or guarantee such accuracy. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional.
Based on information from California Regional Multiple Listing Service, Inc. as of 6/2/26 10:37 PM PDT and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information
This IDX solution is (c) Diverse Solutions 2026.
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