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The Warburton Team Brokered By EXp

andreww@gowpnow.com +1(626) 630-2141

$3,190,000

Est. payment - /mo

0.42 Acres Lot

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Key Details

Property Type Apartment

Sub Type Apartment

Listing Status Coming Soon

Purchase Type For Sale

MLS Listing ID OC26133275

HOA Y/N No

Year Built 1960

Lot Size 0.423 Acres

Property Sub-Type Apartment

Property Description

Rare opportunity to acquire a pride-of-ownership 8-unit investment property in the highly sought-after Westside Costa Mesa rental market, offered for sale for the first time in more than 25 years. Near 19th Street and Placentia Avenue, this well-maintained asset offers a combination of strong in- place income, stable occupancy, and long-term upside in one of Orange County's most desirable coastal submarkets. The property benefits from an exceptional location, placing residents within minutes of popular restaurants, breweries, coffee shops, shopping, beaches, and outdoor recreation. Convenient access to the 55 Freeway provides direct connectivity to Newport Beach, John Wayne Airport, major employment centers, and the greater Orange County transportation network, making the property highly attractive to a broad tenant base. The asset consists of two separate fourplex buildings comprising a total of eight 1 bedroom units. Each building features two upstairs and two downstairs residences. Three of the ground-floor units enjoy private enclosed yards or patios
surrounded by white picket fencing and landscaping, creating a residential feel and highly desirable outdoor living spaces rarely found. The property is secured by a gated pedestrian entrance and remote-controlled vehicle gate. A secondary access point at the rear of the property connects
directly to a recently renovated city alleyway, providing additional convenience for residents. The driveway and parking areas are constructed entirely of concrete rather than asphalt, helping minimize long-term maintenance requirements. There are 4 double-car garages along with additional off-street parking spaces for approximately 15 vehicles! 3 of the 4 double car garages are currently on a month to month basis to long-term non-residents, generating $1,000 per month total in supplemental income. The fourth garage is utilized as shared resident storage. Each unit is equipped with in-unit washer and dryer hookups and an individual water heater. There is no house gas meter, reducing owner-paid utility expenses. The house electrical meter serves exterior lighting and the security gate, resulting in minimal common-area utility costs. All units feature efficient and functional floor plans with open-concept kitchens that flow directly into the living areas. Double-pane windows have been installed in all living and dining rooms, improving energy efficiency, reducing exterior noise, and enhancing overall resident comfort.

Location

State CA

County Orange

Area C2 - Southwest Costa Mesa

Interior

Fireplace No

Laundry Washer Hookup, Gas Dryer Hookup

Exterior

Garage Spaces 8.0

Garage Description 8.0

Pool None

Community Features Curbs, Gutter(s), Sidewalks

Total Parking Spaces 15

Private Pool No

Building

Lot Description 0-1 Unit/Acre

Story 2

Entry Level Two

Sewer Public Sewer

Water Public

Level or Stories Two

New Construction No

Others

Senior Community No

Tax ID 42226219

Acceptable Financing Cash to New Loan, Conventional, 1031 Exchange

Listing Terms Cash to New Loan, Conventional, 1031 Exchange

Special Listing Condition Standard

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Listed by Scott Gerard Gerard Properties Inc. 714-345-4223, DRE #01004111

NEARBY SCHOOL & BUSINESS

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1920 Wallace AVE Costa Mesa, CA 92627