CA > Costa Mesa
Costa Mesa, CA 92627,617 Victoria ST
Costa Mesa, CA 92627,617 Victoria ST
Costa Mesa, CA 92627,617 Victoria ST
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The Warburton Team Brokered By EXp

The Warburton Team Brokered By EXp

+1(626) 630-2141
$5,995,000
Est. payment /mo
0.46 Acres Lot
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UPDATED:

10/28/2024 05:50 PM

Key Details

Property Type Condo

Sub Type Apartment

Listing Status Pending

Purchase Type For Sale

MLS Listing ID IV24120357

HOA Y/N No

Year Built 1955

Lot Size 0.460 Acres

Property Description

**MILLION DOLLAR PRICE REDUCTION, SELLER WILL MOVE THIS ASSET. ALL OFFERS ARE ENCOURAGED**
Introducing an exceptional investment opportunity at 615-617 Victoria Street, brought to you by. Spanning three parcels, totaling 1.32 acres, the property presents an array of prospects. Currently there are 12 single-story residences, each with 2 bedrooms and 1 bathroom, a single-car garage, washer/dryer hookups, and private patio. Nestled within the property is a sprawling tree lined, grassy courtyard. With strategic renovations, savvy investors stand to unlock substantial rental upside, potentially exceeding 40% on the existing units alone. Furthermore, ADU regulations established by the city of Costa Mesa present the opportunity to add more units, amplifying rental income and elevating the property's overall value.
For developers seeking a larger project in the Costa Mesa market, this property is an unparalleled find. Positioned in the Mesa West Residential Urban Plan, these parcels offer a rare chance for redevelopment, allowing for the creation of new apartments or saleable units with increased density compared to other opportunities in the area. Plus, it is located in an Opportunity Zone.
Don't miss out on this investment opportunity, combining current rental income potential with significant future growth prospects.

Location

State CA

County Orange

Area 699 - Not Defined

Interior

Fireplace No

Laundry None

Exterior

Garage Spaces 12.0

Garage Description 12.0

Pool None

Community Features Suburban

Total Parking Spaces 12

Private Pool No

Building

Lot Description 11-15 Units/Acre

Story 1

Entry Level One

Sewer Public Sewer

Water Public

Level or Stories One

New Construction No

Others

Senior Community No

Tax ID 42221116

Energy Description 3081.0

Acceptable Financing Conventional

Listing Terms Conventional

Special Listing Condition Standard

Read Less Info
California Regional MLS (CRMLS)
Listed by ALBERT LE • LE INVESTMENT GROUP • 909-256-7889

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