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2658 Santa Ana Avenue

Costa Mesa, CA 92627
  • $5,178,000
  • STATUS: Active
  • ON SITE: 14 Days
  • ID#: NP24028330
$5,178,000
  • 0
    BEDS
  • 0.45
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Multi-Family
Built:
1959
County:

School Ratings & Info

Listing Agent(s): Veronica Hicks of Condos Etc, Inc (949-861-8181)


Description

Welcome to a lucrative investment opportunity in the heart of Popular Eastside Costa Mesa " a commercial multifamily property that epitomizes turnkey perfection. Ideal for the discerning investor seeking immediate profitability without the hassle of renovations, this property is poised to deliver both financial success and peace of mind.Strategically located near the 55 Freeway, 17th Street, South Coast Plaza, The Back Bay, and Newport Beach, this multifamily gem is surrounded by desirable amenities and prime destinations. The property comprises six detached bungalows, each with a garage and 1-2 parking spaces, ensuring convenience for both residents and guests.Recently remodeled in late 2022, this property shines with a cohesive aesthetic, presenting near-identical units that showcase meticulous attention to detail. Every aspect of these bungalows has been thoughtfully upgraded, from the new kitchens and baths to the flooring, doors, paint, gutters, and roofing, creating a harmonious living experience.Embrace modern comfort with air-conditioned interiors, featuring three mini-split systems in each bungalow for personalized climate control. Step outside to discover oversized, meticulously landscaped yards, providing residents with a private oasis and an inviting atmosphere for outdoor activities.Unlock additional value with the potential for an Accessory Dwelling Unit (ADU), offering flexibility in usage and increased investment potential. Currently boasting a remarkable 100% occupancy rate at market rents, this property is fully leased up, providing a secure and immediate return on investment.In summary, this commercial multifamily property is more than just an investment; it's a turnkey opportunity for the savvy investor looking to capitalize on a prime location, modern amenities, and a seamless, income-generating property. Secure your stake in the thriving Eastside Costa Mesa community today!

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Based on information from California Regional Multiple Listing Service, Inc. as of 2024-02-23T00:30:33.41. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Lori Thompson | Coldwell Banker Realty. Licensed in the State of California, USA.
www.housesforsalesocal.com/homes/147418750
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2658 Santa Ana Avenue Costa Mesa, CA 92627

  • Price: $5,178,000
  • Status: Active
  • On Site: 14 Days
  • ID#: NP24028330
0
Beds
0
Baths
0
½ Baths
0.45
Acres
1959
Built
Neighborhood:
Eastside Central (Eccm)
County:
Orange
Area:
C5 - East Costa Mesa
Property Description
Welcome to a lucrative investment opportunity in the heart of Popular Eastside Costa Mesa " a commercial multifamily property that epitomizes turnkey perfection. Ideal for the discerning investor seeking immediate profitability without the hassle of renovations, this property is poised to deliver both financial success and peace of mind.Strategically located near the 55 Freeway, 17th Street, South Coast Plaza, The Back Bay, and Newport Beach, this multifamily gem is surrounded by desirable amenities and prime destinations. The property comprises six detached bungalows, each with a garage and 1-2 parking spaces, ensuring convenience for both residents and guests.Recently remodeled in late 2022, this property shines with a cohesive aesthetic, presenting near-identical units that showcase meticulous attention to detail. Every aspect of these bungalows has been thoughtfully upgraded, from the new kitchens and baths to the flooring, doors, paint, gutters, and roofing, creating a harmonious living experience.Embrace modern comfort with air-conditioned interiors, featuring three mini-split systems in each bungalow for personalized climate control. Step outside to discover oversized, meticulously landscaped yards, providing residents with a private oasis and an inviting atmosphere for outdoor activities.Unlock additional value with the potential for an Accessory Dwelling Unit (ADU), offering flexibility in usage and increased investment potential. Currently boasting a remarkable 100% occupancy rate at market rents, this property is fully leased up, providing a secure and immediate return on investment.In summary, this commercial multifamily property is more than just an investment; it's a turnkey opportunity for the savvy investor looking to capitalize on a prime location, modern amenities, and a seamless, income-generating property. Secure your stake in the thriving Eastside Costa Mesa community today!
Exterior Features

Architectural Style BungalowCottageMid-Century Modern Construction Materials DrywallStucco Entry Level 1 Entry Location Santa Ana Exterior Features Rain Gutters Fencing VinylWood Foundation Details Slab Lot Features 6-10 Units/AcrePavedRectangular LotSprinklers TimerSprinkler System Number Of Separate Electric Meters 6 Open Parking Spaces 10 Parking Features Assigned Parking Total 16 Pool Features None Pool Private YN No Property Attached YN No Road Frontage Type City Street Road Surface Type Paved Spa Features None Spa YN No View None View YN No

Interior Features

Accessibility Features No StairsAccessible DoorsAccessible Entrance Appliances DishwasherENERGY STAR Qualified AppliancesENERGY STAR Qualified Water HeaterGas CooktopDisposalGas OvenGas Water HeaterIce MakerRefrigeratorRange HoodSelf Cleaning OvenWater HeaterDryerWasher Common Walls No Common Walls Cooling DuctlessElectricENERGY STAR Qualified EquipmentZoned Cooling YN Yes Door Features Panel Doors Fireplace Features None Fireplace YN No Flooring Laminate Heating DuctlessElectricENERGY STAR Qualified EquipmentZoned Heating YN Yes Interior Features Quartz CountersStone CountersUnfurnishedWired for DataAll Bedrooms DownBedroom on Main LevelMain Level Primary Window Features Double Pane WindowsENERGY STAR Qualified WindowsInsulated Windows

Property Features

Additional Parcels YN No Association Fee 0 Association YN No Cap Rate 3.4 Common Interest None Community Features HikingPreserve/Public LandStreet LightsSidewalksUrban Current Financing Conventional Disclosures Home WarrantyRent ControlUnincorporated Electric Electricity - On Property Garage YN Yes Green Energy Efficient AppliancesWater Heater Green Water Conservation Water-Smart Landscaping Gross Income 269520 Gross Scheduled Income 269520 Inclusions All Appliances Insurance Expense 6000 Land Lease YN No Laundry Features Washer HookupElectric Dryer HookupInsideLaundry ClosetStacked Levels One Listing Agreement Exclusive Right To Sell Listing Service Full Service Listing Terms 1031 Exchange Maintenance Expense 4800 Net Operating Income 173759 New Construction YN No New Taxes Expense 58103 Number Of Separate Gas Meters 6 Number Of Separate Water Meters 0 Operating Expense 95761 Other Expense 1200 Pest Control Expense 600 Possession Close Of Escrow Property Condition Updated/RemodeledTurnkey Property Sub Type Mixed Use Rent Control YN Yes Senior Community YN No Sewer Public Sewer Special Listing Conditions Standard Tenant Pays Cable TVElectricityGasTelephone Trash Expense 0 Utilities Cable AvailableCable ConnectedElectricity AvailableElectricity ConnectedNatural Gas AvailableNatural Gas ConnectedPhone AvailablePhone ConnectedSewer AvailableSewer ConnectedWater AvailableWater Connected Vacancy Allowance 8086 Water Sewer Expense 1500 Water Source Public



Based on information from California Regional Multiple Listing Service, Inc. as of 2024-02-23T00:30:33.41. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Lori Thompson | Coldwell Banker Realty. Licensed in the State of California, USA.
 
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Lori Thompson | Coldwell Banker Realty
19440 Goldenwest Street
Huntington Beach CA, 92648
Listing Agent(s): Veronica Hicks of Condos Etc, Inc (949-861-8181)