Rare opportunity to own on Balboa's coveted and picturesque Little Island. This exceptionally well-located lot is offered in its pre-construction status with soon-to-be approved plans for a custom 2,295 s.f. Cape Cod-inspired Island home. This meticulously planned home will offer three levels with of exceptional indoor/outdoor living space perfect for entertaining and relaxing. Whether on the first-level outdoor living space or from the covered third-floor rooftop deck, enjoy sumptuous gentle breezes sweeping in from the bay located a few hundred feet away. Features include an elevator to all levels, fireplaces on each of the three levels, ground floor BBQ area, 2-car garage, and an outdoor electric golf cart parking area. Plans include pre-engineering for 3rd level spa. With less than 250 homes on Balboa's peaceful Little Island, this is a fantastic opportunity to own a perfectly situated custom dream home in a highly walkable, water-close location with options to select finishes and personalize with your signature! With close proximity to Balboa's Marine Ave. teeming with local boutique shops and restaurants, Newport harbor and beaches, world-class shopping at nearby Fashion Island, and championship golf courses, 120 Abalone is a perfect place for full-time residency or part-time vacation stays.***Seller is in the permit approval process and plans are subject to change. Buyer to investigate all aspects of the property including plans, permits, and views to Buyer's satisfaction. Property is also available for sale as a completed project for $5.8M. See MLS # NP23007214