777 W 18th Street, Costa Mesa, CA 92627

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Glen Henderson

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

$1,800,000

Est. payment - /mo

7 Beds

3 Baths

9,218 Sqft Lot

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UPDATED:

11/03/2024 02:39 AM

Key Details

Property Type Multi-Family

Sub Type Res Income 2-4 Units

Listing Status Active

Purchase Type For Sale

MLS Listing ID NP24223351

Bedrooms 7

HOA Y/N No

Lot Size 9,218 Sqft

Lot Dimensions 71 x 130

Type of Financing Cash,Exchange

Property Description

Exceptional Investment Opportunity Two detached homes on a large 9,218-square-foot parcel! Located in the rapidly appreciating West Side Costa Mesa area, this property is ideal for investors, developers, or homeowners seeking rental income. The prime property presents a promising opportunity for investors to increase income by adjusting the existing below-market lease rates to market value. The recently renovated front home has 3 bedrooms and 1 full bathroom, featuring a spacious, gated front yard. The open floor plan offers vaulted ceilings, wood flooring, and a brick fireplace, with abundant natural light streaming through skylights and windows. An independent, gated rear yard attached to this house provides the perfect space for private relaxation or entertaining. The front home is currently leased for $3,600 per month and will be vacant and available for lease in mid-November, with high interest already expressed by potential tenants. It is actively listed for lease at $3,900 per month. The rear detached home, with its own private, gated backyard, includes 4 bedrooms and 2 bathrooms. The open living room and kitchen create a seamless flow, leading to an expansive outdoor area shaded by mature trees for added privacy and tranquility. The current long-term tenant in the rear is on a month-to-month lease at $3,600 per month, while similar neighboring rentals are achieving up to $4,200 per month, highlighting potential for increased rental income. Each home has a separate laundry area, a one-car garage, and ample off-street parking. Conveniently situated near the vibrant 1
Exceptional Investment Opportunity Two detached homes on a large 9,218-square-foot parcel! Located in the rapidly appreciating West Side Costa Mesa area, this property is ideal for investors, developers, or homeowners seeking rental income. The prime property presents a promising opportunity for investors to increase income by adjusting the existing below-market lease rates to market value. The recently renovated front home has 3 bedrooms and 1 full bathroom, featuring a spacious, gated front yard. The open floor plan offers vaulted ceilings, wood flooring, and a brick fireplace, with abundant natural light streaming through skylights and windows. An independent, gated rear yard attached to this house provides the perfect space for private relaxation or entertaining. The front home is currently leased for $3,600 per month and will be vacant and available for lease in mid-November, with high interest already expressed by potential tenants. It is actively listed for lease at $3,900 per month. The rear detached home, with its own private, gated backyard, includes 4 bedrooms and 2 bathrooms. The open living room and kitchen create a seamless flow, leading to an expansive outdoor area shaded by mature trees for added privacy and tranquility. The current long-term tenant in the rear is on a month-to-month lease at $3,600 per month, while similar neighboring rentals are achieving up to $4,200 per month, highlighting potential for increased rental income. Each home has a separate laundry area, a one-car garage, and ample off-street parking. Conveniently situated near the vibrant 17th Street scene and the iconic beaches of Newport Beach, this duplex offers an outstanding opportunity for income generation and capital growth in a highly sought-after location. Zoned for multifamily development, this property presents prime development potential. Dont miss out on this incredible opportunity!

Location

State CA

County Orange

Area Oc - Costa Mesa (92627)

Zoning Public Rec

Interior

Appliance Forced Air Unit

Exterior

Garage Unit1:Assigned

Roof Type Composition

Building

Lot Description Sidewalks

Story 1

Lot Size Range 7500-10889 SF

Level or Stories 1 Story

Others

Acceptable Financing Cash, Exchange

Space Rent $3,600

Listing Terms Cash, Exchange

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Listed by Stephanie Peterson • Arbor Real Estate

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Glen Henderson

+1(619) 889-7646

Broker Associate | CA BRE #01384181

Broker Associate CA BRE #01384181

San Diego Communities

777 W 18th Street Costa Mesa, CA 92627

Glen Henderson

Glen Henderson

Key Details

Location

Interior

Exterior

Building

Others

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