Exceptional investment and redevelopment opportunity in the heart of Newport Beach's iconic Balboa Peninsula. Ideally situated just moments from the beach and Newport Harbor, 510 E Balboa Boulevard offers a rare opportunity to acquire a mixed-use property in one of Southern California's most desirable coastal communities. The property is currently operated as a liquor store, with the existing business available for purchase separately from the real estate. The property is zoned MU-V (Mixed-Use Vertical), offering potential redevelopment opportunities. Preliminary development potential includes up to five residential units and one commercial unit, subject to confirmation with the City of Newport Beach and all applicable zoning, density, parking, coastal development, and permitting requirements. Surrounded by popular restaurants, retail, waterfront attractions, and established residential neighborhoods, the property benefits from its prime location on the Balboa Peninsula. With convenient access to the beach, Balboa Fun Zone, Newport Harbor, and the Balboa Ferry, this location offers exceptional appeal for both residential and commercial uses. Whether you're an investor seeking an income-producing coastal asset or a developer looking to capitalize on the demand for residential and commercial space in Newport Beach, this property presents a compelling opportunity.