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$ 1,999,900
Est. payment | /mo
9 Beds
4 Baths
6,970 Sqft Lot
$ 1,999,900
Est. payment | /mo
9 Beds
4 Baths
6,970 Sqft Lot
Key Details
Property Type Multi-Family
Sub Type Res Income 2-4 Units
Listing Status Active
Purchase Type For Sale
MLS Listing ID V1-38449
Bedrooms 9
Lot Size 6,970 Sqft
Property Sub-Type Res Income 2-4 Units
Property Description
Excellent opportunity to acquire a well-located four-unit investment property in the heart of Costa Mesa, offering an attractive combination of strong in-place rental income and meaningful future upside. With rents currently below projected market levels, the property provides an investor with the opportunity to increase income over time while benefiting from four established rental income streams. The desirable unit mix consists of one three-bedroom residence and three two-bedroom residences, providing larger and more versatile floor plans than many typical apartment investments. This mix appeals to a broad tenant base, including professionals, couples, families and those seeking additional space for a home office. Tenants pay their own gas and electricity, helping reduce the owner's exposure to rising utility costs. The property's central Costa Mesa location is a significant advantage. Residents enjoy convenient access to South Coast Plaza, South Coast Metro, Orange Coast College and John Wayne Airport, along with the employment, shopping, dining and entertainment opportunities found throughout Costa Mesa and neighboring Irvine. Newport Beach and Huntington Beach are also just minutes away, providing easy access to some of Orange County's most desirable coastal communities. Excellent freeway accessibility via the 405, 55 and 73 makes the property convenient for tenants working throughout Orange County. Costa Mesa's combination of employment, entertainment, shopping, education and proximity to the coast continues to make it a highly desirable rental market. For an investor
Location
State CA
County Orange
Zoning Assessor
Direction From 405-South on HarborRight on PonderosaRight on Hickory Place
Interior
Fireplace No
Exterior
View Y/N No
Building
Story 2
Level or Stories 2
Others
Senior Community No
Tax ID 13929618
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
Listed by Keith Geller, DRE#00919059 Realty Network
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