Rare opportunity to acquire two, side-by-side, oversized parcels in the prestigious community of Peninsula Point. Both lots (1504 East Balboa Boulevard and 1506 East Balboa Boulevard) are ideal for development and would be suitable for new single-family properties, or one new larger residence with expansive gardens and grounds. Property is part of larger family estate being sold that includes the adjacent properties listed for sale (separately) at 1508 East Balboa Boulevard (mls U10001686), and the oversized 2.5 lot bayfront parcel at 1509 East Bay Avenue (mls U10001683). All properties can be purchased together to create a magnificent bayfront compound with main house, guest homes, service buildings, pool and pool garden, as well as multiple garages. Conceptual plans are available for review.