Gracing the waters edge of Newport Bay within the gated enclave of Balboa Coves, this exceptional retreat is poised to deliver an ultra-luxe lifestyle amid the peninsula's vibrant coastal-urban setting. Claiming appx. 38' of frontage on a virtually private beach, the splendid four-bedroom, four-bathroom residence offers an assigned boat slip accommodating a vessel up to 35'. Just across the threshold, gracious living and dining areas merge seamlessly onto the property's outdoors to create the ultimate waterfront entertainment venue. A bright and neutral color palette throughout the roughly 2,977 SF interiors allow thoughtful design elements to come into focus such as peaked beamed ceilings in the great room and a wall of sliding glass doors for unobstructed views of the canal on which the home sits. Designed for modern tastes, a gleaming gourmet kitchen features quartz countertops, chevron tile backsplash, professional Wolf appliances, and breakfast nook. Completing the main level is a generously sized en suite bedroom and bonus room with bathroom that can be used as a fifth bedroom. On second level await two secondary bedrooms, full bathroom, balcony looking onto the neighborhood, and a fireplace-warmed owner's suite accompanied by a freestanding tub, dual sinks, oversized walk-in closet, and a private balcony from which to enjoy the panoramic bay vistas. Adding to the allure of the estate are Nest thermostats and a two-car garage. 56 Balboa Coves presents a fantastic opportunity to live with the bay at your feet in an award-winning school district near Balboa Fun Zone, Marina Park, Lido House Resort, shopping, and dining.