Location! Location! Location! This deluxe penthouse condo is located in the Villa Balboa Community which is situated on a bluff overlooking the ocean. It is rare for a large penthouse to be available. Enjoy a 5-minute walk to the beach or to Lido Marina Village. Be the envy of your friends with this 2 bed 2 bath home that is spacious, bright, & airy. It has skylights & clerestory windows that accentuate the vaulted cathedral ceilings. There is so much natural light that lighting is rarely needed during the day. With the windows open, you will enjoy a cool ocean breeze during the summer, & very mild winter; The AC or heater is rarely needed. This inviting home is nearly 1600 sqft. It is extremely private & equipped with a large, covered balcony with a peek-a-boo ocean view. This redone home has just-installed luxury vinyl floors with 9-inch-wide planks, 5-inch white shaker baseboards, & brand-new energy-efficient Milgard sliding doors & windows. The kitchen has brand new white quartz countertops with gray veins, a stainless steel sink, & abundant cabinet space. The well-lit kitchen has brand new, never-used stainless steel appliances with transferable 3-year warranties. The Great room has a gas fireplace that adds a cozy ambiance, which is ideal for entertaining & enjoying quiet time. The open floorplan flows naturally into a large dining room lit by a large skylight. The bedroom wing ends in a huge master bedroom & a second bedroom for guests or an office. Both the guest & master baths enjoy the same luxury flooring, with brand new white shaker vanities, “jazz white” marble countertops, brushed nickel fixtures, slow-close drawers, & under-mount sinks. Each bathroom has custom silver-framed mirrors which match the brushed nickel lights. The master bedroom has two closets, one of which is a large walk-in. In Newport, it's very rare to get so much and pay so little. Villa Balboa is a gated community, with spacious greenbelts that create a park-like ambiance. The community has two pools with spas & BBQs, a large clubhouse with a kitchen & meeting room, & a gym with treadmills & bicycles, free weights & machines. There are two tennis courts, 24-hour security, & ample guest parking. HOA fees pay for hot & cold water, natural gas, garbage, & two garage parking places with a storage locker. This is your chance to own one of the best values in Newport Beach! Experience all that Newport Beach has to offer, & make 280 Cagney Lane #303 your own personal oasis.