Newport Beach has a wide variety of residential income property choices. From duplexes to single family homes and multi unit apartment buildings to custom built water front estates, there is a level to appeal to any type of investor. Residential income property is a great real estate investment for a variety of reasons such as equity build up, tax benefits and appreciation with monthly income generation. In recent years, single family homes have shown higher appreciation than many other types of property investment. Newport Beach provides a unique opportunity because residential income property can be used as either residential or vacation rental properties. Home prices range from $350,000 to several million dollars. Home prices vary depending on location, size, number of units, views and neighborhood amenities. There are both guard gated and non-gated developments in Newport Beach. Some neighborhoods have private beach access; public beach access is just a short drive from any Newport Beach neighborhood. Views in from Newport Beach homes include the Pacific Ocean, Catalina Island, Newport Bay, Newport Harbor, the coastline, city night lights, surrounding mountains and canyons.