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$5,995,000
Est. payment /mo
0.46 Acres Lot
UPDATED:
12/06/2024 06:33 PM
Key Details
Property Type Commercial
Listing Status Pending
Purchase Type For Sale
MLS Listing ID CRIV24120357
Originating Board California Regional MLS
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
Location
State CA
County Orange
Area 699 - Not Defined
Interior
Laundry None
Exterior
Garage Spaces 12.0
Pool None
Building
Story One Story
Water District - Public
Others
Tax ID 42221116
Special Listing Condition Not Applicable
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Listed by ALBERT LE • LE INVESTMENT GROUP
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Sharad Gupta
Broker | License ID: 02213637
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