Today marks the beginning of the Newport Beach Boat Parade and what better way to get into the spirit of the festivities than with a cruise on the Duffy! The charming community of Beacon Bay is the perfect spot to take in the parade. With its inception dates back to 1927, Beacon Bay boasts stunning beaches, docks, boat slips, grassy stradas, tennis courts, pickleball courts, and a children's play park, as well as direct access to the renowned Balboa Yacht Basin marina and the iconic Galley Cafe. The 167 lots that make up Beacon Bay are subject to a land lease with the City of Newport Beach, with no land buyout option available. Upon each new sale, the buyer is granted a fresh 50-year ground lease from the City of Newport Beach.
The land lease payment amounts to 2.5% of the purchase price, with annual CPI (Consumer Price Index) adjustments. So if you're fortunate enough to partake in a gathering at one of the bayfront homes, I wish you an unforgettable time. Enjoy the boat parade and see you next time on the Duffy!
Cheers.
