Once-in-a-lifetime opportunity to own BALBOA ISLANDS BEST OVER-SIZED LOT plus a MAGICAL,RENOVATED 4 BEDROOM, 4 BATH HOME. Located on a 45 x 85 foot lot-and-a-half, just 4 doors from the South Bayfront, on Balboa Island's coveted LITTLE ISLAND, this quintessential cottage offers relaxed beach living with endless possibilities to update further, rebuild, or just kick back and enjoy as it is. Just past its white picket fence and front patio, the main level of this home has oak hardwood floors throughout, a large living room with fireplace, upgraded kitchen, formal dining room, an office/den or 5th bedroom, and a private rear casita bedroom and bath. The main level also has an expansive courtyard with fireplace, perfect for entertaining and enjoying the Island’s great climate and sea breezes. The second level has fir floors, three bedrooms and two bathrooms; including a master suite with its own bath. This home has been a successful vacation and yearly rental for the owner, and presents a wonderful opportunity for a buyer looking for a beautiful older home filled with character on a large Little Balboa Island lot.