758 W 20th Street, Costa Mesa, CA 92627

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Glen Henderson

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

$1,800,000

Est. payment - /mo

8 Beds

4 Baths

9,211 Sqft Lot

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UPDATED:

10/24/2024 02:21 AM

Key Details

Property Type Multi-Family

Sub Type Res Income 2-4 Units

Listing Status Contingent

Purchase Type For Sale

MLS Listing ID OC24207896

Bedrooms 8

HOA Y/N No

Lot Size 9,211 Sqft

Type of Financing Cash,Conventional,Exchange

Property Description

Unlock the potential of this four-unit property in a prime Westside location of Costa Mesa! This property offers tremendous upside potential for investors looking to capitalize on below-market rents and increasing equity. Each of the four 2-bedroom, 1-bathroom units comes with its own garage, offering a desirable and convenient layout for tenants. All units are currently tenant-occupied on a month-to-month basis, presenting an incredible opportunity for the new owner to make upgrades and increase rents to market levels. With rents currently well below market value, this property is ideal for an investor looking to renovate and reposition. Inquire with the City to see if an ADU can be constructed either on top of the garage or built on the existing large 9,211 sqft lot. Market rents in the area for similar units are estimated at $2,700 per unit, giving the new owner the chance to bring the monthly gross income to over $11,000, and offers the investor a fantastic opportunity with generating a 5%+ cap rate; thereby making it an excellent addition to any real estate portfolio. Whether youre an experienced investor or looking for your first multi-unit property, this gem of a building promises long-term growth and significant returns. Situated in a highly desirable area, close to shopping, dining, freeway and just minutes from the beach, this is a can't-miss opportunity for those seeking both cash flow and future appreciation. Whether you plan to improve and hold...or renovate and resell, the upside is undeniable. This is your chance to create significant equity while tapping int
Unlock the potential of this four-unit property in a prime Westside location of Costa Mesa! This property offers tremendous upside potential for investors looking to capitalize on below-market rents and increasing equity. Each of the four 2-bedroom, 1-bathroom units comes with its own garage, offering a desirable and convenient layout for tenants. All units are currently tenant-occupied on a month-to-month basis, presenting an incredible opportunity for the new owner to make upgrades and increase rents to market levels. With rents currently well below market value, this property is ideal for an investor looking to renovate and reposition. Inquire with the City to see if an ADU can be constructed either on top of the garage or built on the existing large 9,211 sqft lot. Market rents in the area for similar units are estimated at $2,700 per unit, giving the new owner the chance to bring the monthly gross income to over $11,000, and offers the investor a fantastic opportunity with generating a 5%+ cap rate; thereby making it an excellent addition to any real estate portfolio. Whether youre an experienced investor or looking for your first multi-unit property, this gem of a building promises long-term growth and significant returns. Situated in a highly desirable area, close to shopping, dining, freeway and just minutes from the beach, this is a can't-miss opportunity for those seeking both cash flow and future appreciation. Whether you plan to improve and hold...or renovate and resell, the upside is undeniable. This is your chance to create significant equity while tapping into the strong rental demand in this vibrant community. This is your chance to secure a property with significant equity upside and tap into Costa Mesas growing rental market. Dont miss outopportunities like this are few and far between!

Location

State CA

County Orange

Area Oc - Costa Mesa (92627)

Zoning Assessor

Interior

Appliance Forced Air Unit

Building

Lot Description Sidewalks

Story 2

Lot Size Range 7500-10889 SF

Level or Stories 2 Story

Others

Monthly Total Fees $143

Acceptable Financing Cash, Conventional, Exchange

Space Rent $2,136

Listing Terms Cash, Conventional, Exchange

CFD/Mello-Roos Fee $1, 727

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Listed by Ramzi Ataya • Engel & Voelkers Newport Beach

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Glen Henderson

+1(619) 889-7646

Broker Associate | CA BRE #01384181

Broker Associate CA BRE #01384181

San Diego Communities

758 W 20th Street Costa Mesa, CA 92627

Glen Henderson

Glen Henderson

Key Details

Location

Interior

Building

Others

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