2658 Santa Ana Avenue, Costa Mesa, CA 92627

$5,178,000
List Price
$5,178,000
Status
ACTIVE
MLS#
NP24028350
Year Built
1959
Lot Size
19,602
Acres
0.45
Lot Location
6-10 Units/Acre, Paved, Rectangular Lot, Sprinklers Timer, Sprinkler System
Days on Market
21
Property Type
Commercial
Property Sub Type
Multi Family

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!

Additional Information

Appliances
Dryer, Washer
Heat
Ductless, Electric, ENERGY STAR Qualified Equipment, Zoned
Cooling
Yes
Cooling Description
Ductless, Electric, ENERGY STAR Qualified Equipment, Zoned
Exterior Construction
Drywall, Stucco
Water
Public
Attached Structure
Detached
Number Of Units Total
6
Gross Scheduled Income
$269,520
Operating Expense
95761

Listing courtesy of Listing Agent: Veronica Hicks (veronica@condosetc.com) from Listing Office: Condos Etc, Inc.

Mortgage Calculator

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Calculator source: Real Geeks

Based on information from California Regional Multiple Listing Service, Inc. as of . 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 usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.