$2,850,000
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0.26 Acres Lot
SOLD DATE : 07/13/2023
Key Details
Property Type Apartment
Sub Type Apartment
Listing Status Sold
Purchase Type For Sale
Subdivision ,None
MLS Listing ID NP23102429
Sold Date 07/13/23
HOA Y/N No
Year Built 1963
Lot Size 0.260 Acres
Property Sub-Type Apartment
Property Description
This rare value-add opportunity presents two side-by-side 3-unit apartment buildings located in
a high demand location of Costa Mesa. While one unit has already undergone a complete
rehabilitation, there is significant potential to increase the property's value and generate higher
rental income by rehabbing the remaining five units which are mostly in original condition.
These townhouse-style units all feature 2 bedrooms and 1.25 bathrooms, interior laundry,
sizable private backyard patios and enclosed parking. The layout provides a comfortable and
spacious environment, making these units attractive to individuals or small families seeking
ample living space and allowing the tenants to create a sense of home. Investors can capitalize
on this opportunity by implementing a strategic renovation plan to bring the remaining units up
to market standards allowing for higher rental rates but also increasing the overall property
value. This investment has significant upside potential for savvy investors. The Property is one
parcel with six units, so must be sold together as one single purchase.
Location
State CA
County Orange
Area C4 - Central Costa Mesa
Interior
Fireplace No
Laundry Laundry Room
Exterior
Garage Spaces 6.0
Garage Description 6.0
Pool None
Community Features Sidewalks
Total Parking Spaces 9
Private Pool No
Building
Lot Description 6-10 Units/Acre
Story 2
Entry Level Two
Sewer Public Sewer
Water Public
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 14113423
Acceptable Financing Cash, Cash to New Loan, Conventional
Listing Terms Cash, Cash to New Loan, Conventional
Financing Cash
Special Listing Condition Standard, Trust
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Bought with General NONMEMBER NONMEMBER MRML
