Rare opportunity to own a new custom home on Balboa's coveted and picturesque Little Island. Constructed by noted luxury home builder, Eric Farmer Construction, this Cape Code-inspired residence is scheduled for completion in early 2024. Meticulously planned with the highest attention to detail, including energy performance and the finest quality of materials, the home offers approximately 2,295 square feet of exceptional indoor/outdoor living space with elevator service to all three levels. Main level includes an open floorplan ideal for entertaining centered around a gourmet kitchen, dining and living areas seamlessly opening to a front patio. The second level features three en-suite bedrooms, including the sumptuous master suite with private deck and harbor views. Atop is the fabulous roof top deck with both covered and open space and pre-engineered for spa. The home is completed with two car garage and an outdoor parking area for electric golf cart, bikes, or recreational gear. Whether on the first-floor outdoor space or on the third-floor rooftop deck, enjoy delightful breezes sweeping in from the bay located approximately 100 yards from the property and two blocks from Grand Canal. With less than 250 homes on Balboa's peaceful Little Island, this is a fantastic opportunity to own a perfectly located custom dream home in a highly walkable, water-close location with options to select finishes and personalize with your signature! With nearby 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 verify all aspects of the property to buyer’s satisfaction including plans, specifications, views, and all other construction details. Property is also listed in its pre-construction stage with soon-to-be approved plans at $3.65M (MLS # NP23007999)