127 Pearl Lowest Price Per Square Foot on Balboa Island! At just $1, 524 per square foot, this is the lowest priced per square foot home on Balboa Island and the second lowest priced home overall on the entire island! The seller is motivated to make a deal, so don't miss out! Located two blocks from the Ferry on the sunny side of a prime street, this home includes those hard-to-get short-term rental permits. It offers three spacious bedrooms, two and a half baths, plus a loft. The open, airy floor plan features a gourmet kitchen with stainless steel appliances, granite countertops, and a large island. The master suite boasts a walk-in closet and en-suite bath, and outside, a cozy courtyard invites you to relax in the ocean breeze. With a strong rental history, this is the perfect investment, second home, or income-generating property. 127 Pearl Ave is ideal for full-time living, a vacation getaway, or turnkey rental income—a rare find in the heart of Balboa Island!