615-617 Victoria St, Costa Mesa, CA 92627
12 Unit Apartment Building | $5,995,000 ($499,583/Unit) | 3.81% Cap Rate | Costa Mesa, CA 92627
For Sale
Active
- Date Added:
- September 16, 2024
- Days on Market:
- 2 days
Asking Price $5,995,000
- Property Type
-
Multifamily
- Square Feet
- 9,240 SF
Listing Contacts
Nick Gould
Verified Profile
Jonathon Nichols
Verified Profile
- Property Info
Property Overview
Introducing an exceptional investment opportunity at 615-17 Victoria Street, brought to you by Gould Group and Le Investments. Spanning three parcels, totaling 1.32 acres, the property presents an array of prospects. Currently there are 12 single-story residences, each with 2 bedrooms and 1 bathroom, a single-car garage, washer/dryer hookups, and private patio. Nestled within the property is a sprawling tree lined, grassy courtyard. With strategic renovations, savvy investors stand to unlock substantial rental upside, potentially exceeding 40% on the existing units alone. Furthermore, ADU regulations established by the city of Costa Mesa present the opportunity to add more units, amplifying rental income and elevating the property's overall value.
For developers seeking a larger project in the Costa Mesa market, this property is an unparalleled find. Positioned in the Mesa West Residential Urban Plan, these parcels offer a rare chance for redevelopment, allowing for the creation of new apartments or saleable units with increased density compared to other opportunities in the area. Plus, it is located in an Opportunity Zone.
Don't miss out on this investment opportunity, combining current rental income potential with significant future growth prospects.
For developers seeking a larger project in the Costa Mesa market, this property is an unparalleled find. Positioned in the Mesa West Residential Urban Plan, these parcels offer a rare chance for redevelopment, allowing for the creation of new apartments or saleable units with increased density compared to other opportunities in the area. Plus, it is located in an Opportunity Zone.
Don't miss out on this investment opportunity, combining current rental income potential with significant future growth prospects.
Property Details
- Class
- C
- Year Built
- 1955
- Stories
- 1
- Lot Size (sq. ft)
- 57,935 SF
- Units
- 12
Highlights
- 3 Parcels, 1.32 Acres
- All Single Story 2 Bedroom/1 Bathroom Units
- Private Patios, Washer/Dryer Hookups
- Single Car Garages & Ample Parking
- Value-Add Or Re-Development Opportunity
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