1933 Wallace Ave
Costa Mesa, CA 92627
Multifamily Property For Sale · 9 Units

Morgan Skenderian is pleased to present this pride of ownership nine unit apartment building. built in 1957, it is comprised of nine one bedroom one bathroom units most of which are single story with private entrances and large private backyards. Tenants find parking a terrific added benefit with this building boasting a 2 to 1 parking spaces to units ratio. Currently the property has leased laundry that give additional income without the headache of maintenance. It is also separately metered for gas and electricity. See attached Marketing Package more information. The City of Costa Mesa is one of Orange County' s leading cultural and business centers. The city is home to The Orange County Performing Arts Center, Orange County Fair Grounds and South Coast Plaza which is one the highest volume shopping centers in the nation. Costa Mesa is bordered by the cities of Santa Ana, Newport Beach, Huntington Beach, Fountain Valley, and Irvine. It is approximately 37 miles southeast of Los Angeles and 88 miles north of San Diego. The city has a current population of 113,440 with 60% of the of the population living in rental housing. The average home sales price in Costa Mesa in 2006 was $779,275 and the average condominium sales price was $562,430. The entire city of Costa Mesa offers an excellent business environment with the three major industries being retail trade, professional services and manufacturing. Some of the city' s major employers include Auto Club of Southern California, DiTech.com, Fairview Development Center, Experian Information Solutions and First Team Real Estate. The city has retail sales tax revenue of approximately $34,460,000 and one of the highest employment rates at 96.7%.