207 29th Street offers a unique opportunity for those seeking a blend of coastal living and investment potential in Newport Beach. Just STEPS from the ocean and a short walk to Balboa Peninsula's local restaurants and shops, this remodeled duplex sits on a quiet and wide street predominantly occupied by long-term residents, ensuring a tranquil environment away from peninsula street traffic and noise. The UPPER unit with three-bedrooms and two-baths, completely remodeled in 2021 with contemporary upgrades, boasts vaulted ceilings, attractive flooring and a charming corner fireplace within an open-plan living room and kitchen area. This layout flows onto a generously-sized sunny patio, offering residents the luxury of peekaboo ocean views while enjoying the fresh ocean air and ambiance. The LOWER unit with one-bedroom and one-bath retains its original charm, including a fireplace and a large outdoor patio. Both units are rented on a month-to-month basis. Convenient parking options include a 3-car garage and an additional space in alley at the rear of the property. Moreover, the property presents significant potential for redevelopment under Newport Beach zoning regulations. Permitted options for new construction include a two-story, two-unit duplex or condominium, and/or ADU configuration. Local architect Rod A. Jeheber has drafted plans (available to potential buyers) for a contemporary two-unit condominium with modern amenities and ocean views, catering to both full-time and part-time residents seeking a lock-and-go lifestyle. Whether you're looking for a coastal retreat, an investment opportunity, or a combination of both, don't miss out on this prime opportunity to enjoy beach-life year around.