$ 5,995,000
617 Victoria ST Costa Mesa, CA 92627
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$ 5,995,000
Est. payment | /mo
0.46 Acres Lot
$ 5,995,000
Est. payment | /mo
0.46 Acres Lot
Key Details
Property Type Condo
Sub Type Apartment
Listing Status Pending
Purchase Type For Sale
MLS Listing ID IV24120357
HOA Y/N No
Year Built 1955
Lot Size 0.460 Acres
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 significant future growth prospects.
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.
Location
State CA
County Orange
Area 699 - Not Defined
Interior
Fireplace No
Laundry None
Exterior
Garage Spaces 12.0
Garage Description 12.0
Pool None
Community Features Suburban
Total Parking Spaces 12
Private Pool No
Building
Lot Description 11-15 Units/Acre
Story 1
Entry Level One
Sewer Public Sewer
Water Public
Level or Stories One
New Construction No
Others
Senior Community No
Tax ID 42221116
Energy Description 3081.0
Acceptable Financing Conventional
Listing Terms Conventional
Special Listing Condition Standard
Listed by ALBERT LE • LE INVESTMENT GROUP • 909-256-7889
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Erik Chavez
REALTORS® | Lic# 02064537