$ 1,800,000
758 W 20th Street Costa Mesa, CA 92627
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$ 1,800,000
Est. payment | /mo
8 Beds
3,384 SqFt
$ 1,800,000
Est. payment | /mo
8 Beds
3,384 SqFt
Key Details
Property Type Multi-Family
Sub Type Quadruplex
Listing Status Pending
Purchase Type For Sale
Square Footage 3,384 sqft
Price per Sqft $531
MLS Listing ID CROC24207896
Bedrooms 8
HOA Y/N No
Year Built 1972
Lot Size 9,211 Sqft
Acres 0.21
Property Description
Unlock the potential of this four-unit property in a prime Westside location of Costa Mesa! This property offers tremendous upside potential for investors looking to capitalize on below-market rents and increasing equity. Each of the four 2-bedroom, 1-bathroom units comes with its own garage, offering a desirable and convenient layout for tenants. All units are currently tenant-occupied on a month-to-month basis, presenting an incredible opportunity for the new owner to make upgrades and increase rents to market levels. With rents currently well below market value, this property is ideal for an investor looking to renovate and reposition. Inquire with the City to see if an ADU can be constructed either on top of the garage or built on the existing large 9,211 sqft lot. Market rents in the area for similar units are estimated at $2,700 per unit, giving the new owner the chance to bring the monthly gross income to over $11,000, and offers the investor a fantastic opportunity with generating a 5%+ cap rate; thereby making it an excellent addition to any real estate portfolio. Whether you’re an experienced investor or looking for your first multi-unit property, this gem of a building promises long-term growth and significant returns. Situated in a highly desirable area, close to sh
Location
State CA
County Orange
Area Listing
Interior
Heating Forced Air
Cooling No Air Conditioning
Fireplace No
Laundry No Hookups
Exterior
Exterior Feature Other
View Y/N false
View None
Total Parking Spaces 4
Building
New Construction No
Others
Tax ID 42228119
© 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 Ramzi Ataya • Engel & Voelkers Newport Beach
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