CA > Costa Mesa
Costa Mesa, CA 92627,2648 Newport BLVD
Costa Mesa, CA 92627,2648 Newport BLVD
Costa Mesa, CA 92627,2648 Newport BLVD
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The Warburton Team Brokered By EXp

The Warburton Team Brokered By EXp

+1(626) 630-2141
$1,750,000
Est. payment /mo
0.46 Acres Lot
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UPDATED:

Key Details

Property Type Commercial

Sub Type Business

Listing Status Active Under Contract

Purchase Type For Sale

MLS Listing ID OC25030847

HOA Y/N No

Lot Size 0.455 Acres

Property Sub-Type Business

Property Description

Perfect for your 1031 Client! Wonderful opportunity to own a large lot on a prime Eastside Costa Mesa with Two month-to-month tenants making it easy to shift gears when you have applied for zone change and when you are ready to build! Undermarket but vary Stable rent roll, minimal expenses while you decide what to do with this property. Wonderful opportunity to develop or hold a rare piece of land in Eastside Costa Mesa with simple month-to-month tenancy in place. Lot is zoned C-1, but Residential or Mixed Use zoning is viable if one is to propose a General Plans Amendment, Rezone, and Specific Plans. In 2020, a 9-unit condo passed the General Plan Screening* at the city council - does not equal to entitlement or being shovel ready. All plans have since expired and one would need to bring plans and proposals up to current requirements and code. Please note, it would take 6 months to 3 years to get the entitlements and be shovel ready as each proposal is different. Expired plans can be included in the sale of the property. This is an AS-IS purchase.

*General Plan Screening is a precondition to the entitlement process; the City Council determined the proposal may proceed through the entitlement process. Staff believed the proposed development would provide an opportunity to improve the condition of the site and would provide additional housing in the City. The proposed condominiums were designed to complement the street frontage; however, the site plans would need refinement in terms of parking, design, and open space. The Council voted to move forward, submittal of applications for a General Plan Amendment, Rezone and Specific Plan would be required to process the necessary entitlements. After the General Plan Screening, the project was put on hold due to Covid uncertainties.

Location

State CA

County Orange

Area C5 - East Costa Mesa

Interior

Fireplace No

Laundry None

Building

Lot Description Level, Rectangular Lot, Value In Land

Story 1

Water Public

Others

Tax ID 43908107

Acceptable Financing Cash, Cash to Existing Loan, Cash to New Loan, 1031 Exchange

Listing Terms Cash, Cash to Existing Loan, Cash to New Loan, 1031 Exchange

Special Listing Condition Standard

Read Less Info
California Regional MLS (CRMLS)
Listed by Chris Lee • Berkshire Hathaway HomeService

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