Opportunity is knocking in Newport Heights! Buy this to live in or tear it down and build 2 homes all with separate addresses. Build 2 homes on this RARE street to street lot, or keep the large Duplex that currently exists. The R-2 zoned lot stretches from Catalina Drive up to La Jolla Drive. The existing Duplex has (2) 3 bedroom, 2 bath homes with a 3 car garage and large yard. The duplex is currently occupied on month to month leases with good rental income, until ready to build. Located in the coveted Newport Heights community and walking distance to the Beach, A Market, plenty of restaurants, bars, Starbucks and Parks! For the savvy investor, this is also a great 1031 exchange opportunity in an area that yields high rental income. Short-Term Lodging is allowed subject to zoning compliance, but there is not currently an active permit.(check with the City of Newport Beach). This home is close to great schools including Newport Heights Elementary, Ensign Middle School and Newport Harbor High school. This home is priced to sell, do not miss out. Agent is part owner. Buyer to verify Square footage.