2350 Santa Ana Avenue, Costa Mesa CA, 92627

Active

2350 Santa Ana Avenue

Costa Mesa CA, 92627

$4,500,000

$1,016.49 per sqft

Active

4,427 sqft

Condos

Built in 1963

Listed by Tyler Leeson with Marcus & Millichap RE Invest [email protected]

Introducing 2350 Santa Ana Ave, a six-unit apartment complex in Eastside Costa Mesa, CA. Built in 1963 and renovated in 2023-2024, the property blends modern comforts with classic charm on an 18,061 sq. ft. lot. It features a mix of one-, two-, and two-bedroom + den units with private outdoor spaces.

Three units have been fully upgraded with new electrical and plumbing systems, energy-efficient windows, split HVAC units, premium flooring, custom cabinetry, designer bathrooms, and stainless steel appliances. The remaining three units will be similarly renovated before closing, making the property turnkey.

Currently master leased through October 2025, the property generates $25,000 per month, offering a 5.50% cap rate with minimal owner obligations. Additionally, it holds future potential with an approved plan for five 1,700 sq. ft. condominium units.

Whether continuing the lease, repositioning as multifamily, or redeveloping, 2350 Santa Ana Ave offers multiple paths to long-term value creation.

OC24175525

MLSⓇ ID

August 23, 2024

Listed

October 17, 2024

Updated

Map

2350 Santa Ana Avenue
Costa Mesa CA, 92627

Interior Features

Total Stories: 1
Appliances: Dryer, Washer
Fireplace: No
Cooling: No
Heating: No

Exterior/Building Features

Lot Size: 0.41 Acres
Lot Features: Street Level
Sewer: Public Sewer

Other Property Details

Area Name: C5 - East Costa Mesa
Days on Market: 35
Garage: Yes
Garage Spaces: 4
Parking Total: 9
View: No
County: Orange
Water Source: Public
Pool: No
Pool Features: None

Listing Contact: 949-419-3200

Based on information from the California Regional Multiple Listing Service (CRMLS) as of 10/17/2024. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, the Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. Any offer of compensation is made only to participants of the MLS where the listing is filed.

Data last updated on 10/17/2024 at 10:18 AM UTC