984 Mission Drive, Costa Mesa, CA 92626

REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.

In-PersonVirtual Tour

Glen Henderson

[email protected] +1(619) 889-7646

$3,963,888

Est. payment - /mo

6 Beds

6 Baths

6,970 Sqft Lot

Save

UPDATED:

10/31/2024 11:39 AM

Key Details

Property Type Multi-Family

Sub Type Res Income 2-4 Units

Listing Status Active

Purchase Type For Sale

MLS Listing ID OC24192192

Bedrooms 6

HOA Y/N No

Lot Size 6,970 Sqft

Type of Financing Cash

Property Description

Roof tune-ups completed in 2024, with 5-year warranty. New electrical panels installed in 2024. This is an exceptional investment opportunity in the sought-after Mesa Del Mar enclave of Costa Mesa. Built in 1964, the property is situated on a 6,935-square-foot lot with well-maintained landscaping that reflects a well-kept property. These buildings offer a diverse configuration of units, including a 3-bedroom/2.5-bathroom townhouse, a 2-bedroom/1.5-bathroom townhouse, a 1-bedroom/1-bathroom unit, and a studio. Residents enjoy amenities such as a gated, lush community courtyard accessible from both the front and rear, six single-car garages, and a community laundry room. Each property is individually metered for gas and electric, and additional income is generated from the laundry facilities and garage rentals. Strategically located, this property offers easy accessibility to the best of Costa Mesa, including South Coast Plaza, The Camp, The LAB, and the Harbor Blvd shopping corridor. Tenants benefit from quick access to major freeways, including the 405, 55, and 73 Freeways. This well-maintained property represents a secure investment in a prime location, with upside potential. Extensive interior renovations across both 984 and 988 Mission Dr include complete remodels in several units with new kitchens, flooring, and bathrooms, while others have partial updates or require further improvements. While recent renovations and updates have improved the property, there remains value-add potential. Several of the current rents are below market, offering opportunities for rent adjus
Roof tune-ups completed in 2024, with 5-year warranty. New electrical panels installed in 2024. This is an exceptional investment opportunity in the sought-after Mesa Del Mar enclave of Costa Mesa. Built in 1964, the property is situated on a 6,935-square-foot lot with well-maintained landscaping that reflects a well-kept property. These buildings offer a diverse configuration of units, including a 3-bedroom/2.5-bathroom townhouse, a 2-bedroom/1.5-bathroom townhouse, a 1-bedroom/1-bathroom unit, and a studio. Residents enjoy amenities such as a gated, lush community courtyard accessible from both the front and rear, six single-car garages, and a community laundry room. Each property is individually metered for gas and electric, and additional income is generated from the laundry facilities and garage rentals. Strategically located, this property offers easy accessibility to the best of Costa Mesa, including South Coast Plaza, The Camp, The LAB, and the Harbor Blvd shopping corridor. Tenants benefit from quick access to major freeways, including the 405, 55, and 73 Freeways. This well-maintained property represents a secure investment in a prime location, with upside potential. Extensive interior renovations across both 984 and 988 Mission Dr include complete remodels in several units with new kitchens, flooring, and bathrooms, while others have partial updates or require further improvements. While recent renovations and updates have improved the property, there remains value-add potential. Several of the current rents are below market, offering opportunities for rent adjustments. Additionally, multiple units could benefit from further upgrades. Moreover, there is potential to develop Accessory Dwelling Units (ADUs) in the courtyards, which would further enhance rental income. Property owners in the Mesa Del Mar area have already capitalized on identical lots by constructing ADUs in the courtyards and underutilized garages, further demonstrating the potential of this investment.

Location

State CA

County Orange

Area Oc - Costa Mesa (92626)

Zoning Assessor

Exterior

Garage Unit1:Assigned

Roof Type Composition

Building

Lot Description Curbs, Sidewalks

Story 2

Lot Size Range 4000-7499 SF

Level or Stories 2 Story

Others

Monthly Total Fees $173

Acceptable Financing Cash

Space Rent $1,963

Listing Terms Cash

CFD/Mello-Roos Fee $2, 078

Read Less Info

Listed by Mark Bridge • Mark Bridge, Broker

Get More Information

Glen Henderson

+1(619) 889-7646

Broker Associate | CA BRE #01384181

Broker Associate CA BRE #01384181

San Diego Communities

984 Mission Drive Costa Mesa, CA 92626

Glen Henderson

Glen Henderson

Key Details

Location

Exterior

Building

Others

Get More Information