Active

777 W 18th Street

Costa Mesa CA, 92627

$1,800,000


$808.26 per sqft

Active

2,227 sqft

Multi-family

Built in 1961

Listed by Stephanie Peterson with Arbor Real Estate 949-400-1717

Exceptional Investment Opportunity - Two detached homes on a large 9,218-square-foot parcel! Located in the rapidly appreciating West Side Costa Mesa area, this property is ideal for investors, developers, or homeowners seeking rental income. The prime property presents a promising opportunity for investors to increase income by adjusting the existing below-market lease rates to market value.
The recently renovated front home has 3 bedrooms and 1 full bathroom, featuring a spacious, gated front yard. The open floor plan offers vaulted ceilings, wood flooring, and a brick fireplace, with abundant natural light streaming through skylights and windows. An independent, gated rear yard attached to this house provides the perfect space for private relaxation or entertaining. The front home is currently leased for $3,600 per month and will be vacant and available for lease in mid-November, with high interest already expressed by potential tenants. It is actively listed for lease at $3,900 per month.
The rear detached home, with its own private, gated backyard, includes 4 bedrooms and 2 bathrooms. The open living room and kitchen create a seamless flow, leading to an expansive outdoor area shaded by mature trees for added privacy and tranquility. The current long-term tenant in the rear is on a month-to-month lease at $3,600 per month, while similar neighboring rentals are achieving up to $4,200 per month, highlighting potential for increased rental income. Each home has a separate laundry area, a one-car garage, and ample off-street parking.
Conveniently situated near the vibrant 17th Street scene and the iconic beaches of Newport Beach, this duplex offers an outstanding opportunity for income generation and capital growth in a highly sought-after location. Zoned for multifamily development, this property presents prime development potential. Don't miss out on this incredible opportunity!

NP24223351

MLS ID

November 1, 2024

Listed

November 11, 2024

Updated

Map

777 W 18th Street
Costa Mesa CA, 92627

Interior Features

Total Stories

1


Interior Features

Beamed Ceilings, Ceramic Counters, Cathedral Ceiling(s), Open Floorplan, Tile Counters, Unfurnished, All Bedrooms Down, Bedroom on Main Level, Walk-In Closet(s)


Appliances

Built-In Range, Gas Cooktop, Disposal, Gas Oven, Gas Range, Water Heater


Laundry Description

Gas Dryer Hookup, Laundry Room, Outside


Floor Description

Laminate, Tile, Wood


Fireplace

Yes


Fireplace Description

Living Room, Masonry, Wood Burning


Cooling

No


Cooling Description

None


Heating

Yes


Heating Description

Forced Air, Wall Furnace

Exterior/Building Features

Lot Size

0.21 Acres


Lot Features

2-5 Units/Acre, Back Yard, Front Yard, Lawn, Landscaped, Level, Near Public Transit, Paved, Rectangular Lot, Trees, Yard


Architectual Style

Ranch


Roof

Composition


Sewer

Public Sewer

Other Property Details

Area Name

C2 - Southwest Costa Mesa


Days on Market

10


Garage

Yes


Garage Spaces

2


Parking

Assigned


Parking Total

8


View

No


View Description

None


County

Orange


Water Source

Public


Pool

No


Pool Features

None


Zoning

R2

Listing Contact: 949-673-7600 

Based on information from the California Regional Multiple Listing Service (CRMLS) as of 11/11/2024. 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.

©2024 California Regional Multiple Listing Service (CRMLS) all rights reserved.

Data last updated on 11/11/2024 at 8:21 PM UTC

 

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