$ 5,995,000
617 Victoria Street Costa Mesa, CA 92627
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$ 5,995,000
Est. payment | /mo
9,240 SqFt
$ 5,995,000
Est. payment | /mo
9,240 SqFt
Key Details
Property Type Commercial
Sub Type Other
Listing Status Pending
Purchase Type For Sale
Square Footage 9,240 sqft
Price per Sqft $648
MLS Listing ID CRIV24120357
HOA Y/N No
Year Built 1955
Lot Size 0.460 Acres
Acres 0.46
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 sig
Location
State CA
County Orange
Area Listing
Interior
Fireplace No
Laundry No Hookups
Building
Sewer Public Sewer
Water Public
New Construction No
Others
Tax ID 42221116
© 2024 BEAR, CCAR, bridgeMLS. This information is deemed reliable but not verified or guaranteed. This information is being provided by the Bay East MLS or Contra Costa MLS or bridgeMLS. The listings presented here may or may not be listed by the Broker/Agent operating this website.
Listed by ALBERT LE • LE INVESTMENT GROUP
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