Property
Beds
None
Full Baths
None
1/2 Baths
None
Year Built
1955
Sq.Footage
N/A
**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.
Features & Amenities
Interior
-
Total Bedrooms
N/A
-
Bathrooms
N/A
Exterior
-
Garage
Yes
-
Garage spaces
12
-
Pool
Yes
-
Pool Features
None
Area & Lot
-
Lot Size(acres)
0.46
-
Property Type
Residential Income
-
Property Sub Type
Apartment
Price
-
Sales Price
$5,995,000
-
Sq. Footage
N/A
-
Price/SqFt
N/A
HOA
-
Association
No
School District
-
Elementary School
N/A
-
Middle School
N/A
-
High School
N/A
Property Features
-
Stories
1
-
Senior Community YN
NO
-
Sewer
Public Sewer
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Location
County
Orange
Elementary School
Middle School
High School
Listing Courtesy of ALBERT LE , LE INVESTMENT GROUP
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