2585 Orange Avenue, Costa Mesa, CA 92627 - MLS#PW25077806

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Nicole Hazelton

[email protected] +1(619) 206-1892

$3,700,000

Est. payment - /mo

7 Beds

4 Baths

0.54 Acres Lot

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UPDATED:

Key Details

Property Type Multi-Family

Sub Type Res Income 2-4 Units

Listing Status Active

Purchase Type For Sale

MLS Listing ID PW25077806

Bedrooms 7

HOA Y/N No

Lot Size 0.540 Acres

Property Sub-Type Res Income 2-4 Units

Property Description

Spectacular value add investment opportunity! This incredible 7 unit asset is situated on a large open lot in the heart of everything that's wonderful about Southern California! Costa Mesa is the neighboring city to Newport Beach, which houses some of Southern Californias most expensive real estate, high-end car dealerships, magnificent restaurants and boutiques. 2585 & 2589 Orange Ave is situated within a 5 minutes to 15 minute drive to South Coast Plaza, the largest and arguably the best high-end shopping on the West Coast, Newport Peninsula, Fashion Island, Corona Del Mar and Huntington Beach. The asset itself is comprised of One, 3 bedroom x 1 bathroom single family residence Two, 2 bedroom x 1 bathroom cottages, Two 1 bedroom x 1 bathroom cottages and Two, 1 bedroom x 1 bathroom upper-level units. Each unit has its own garage (7 in total) with 5 carports and 8 additional onsite parking spaces. All seven units have interior laundry. The asset is well managed and beautifully maintained. Current GSI is running approximately 40% below market in current condition. The Single Family Residence and all four cottages have their own large side yards, which create's its own personal space inside a community environment. ADU potential and room to add significant value, this asset will be in high demand!
Spectacular value add investment opportunity! This incredible 7 unit asset is situated on a large open lot in the heart of everything that's wonderful about Southern California! Costa Mesa is the neighboring city to Newport Beach, which houses some of Southern Californias most expensive real estate, high-end car dealerships, magnificent restaurants and boutiques. 2585 & 2589 Orange Ave is situated within a 5 minutes to 15 minute drive to South Coast Plaza, the largest and arguably the best high-end shopping on the West Coast, Newport Peninsula, Fashion Island, Corona Del Mar and Huntington Beach. The asset itself is comprised of One, 3 bedroom x 1 bathroom single family residence Two, 2 bedroom x 1 bathroom cottages, Two 1 bedroom x 1 bathroom cottages and Two, 1 bedroom x 1 bathroom upper-level units. Each unit has its own garage (7 in total) with 5 carports and 8 additional onsite parking spaces. All seven units have interior laundry. The asset is well managed and beautifully maintained. Current GSI is running approximately 40% below market in current condition. The Single Family Residence and all four cottages have their own large side yards, which create's its own personal space inside a community environment. ADU potential and room to add significant value, this asset will be in high demand!

Location

State CA

County Orange

Area Oc - Costa Mesa (92627)

Zoning Estimated

Exterior

Parking Features Unit1:Assigned

Roof Type Composition

Building

Lot Description Curbs, Sidewalks

Story 1

Level or Stories 1 Story

Others

Acceptable Financing Cash, Conventional

Space Rent $2,410

Listing Terms Cash, Conventional

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Listed by Cameron Jacques • Kinnery's Brokerage House

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Nicole Hazelton

+1(619) 206-1892

Broker Associate | License ID: 01819363

Broker Associate License ID: 01819363

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2585 Orange Avenue Costa Mesa, CA 92627

Nicole Hazelton

Key Details

Location

Exterior

Building

Others

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