2218 Pacific Ave
Costa Mesa, CA 92627
Multifamily Property For Sale · 5 Units

Rarely available location and all townhouse-style unit interiors. Considered one of the premier locations in Costa Mesa, the Pacific Townhomes offer five very spacious townhome units, each with sizable private yards, fireplaces, and balconies. The location offers residents the ability to walk to Fairview Park, hike the surrounding wilderness areas, and bike down the hill to the beach. Residents enjoy easy access to the 55 freeway and the Brookhurst corridor for quick access to the 405 freeway and any retail needs of each resident. Trader Joe’s is located just down the hill, less than one mile from the property, at the intersection of Victoria and Brookhurst. Additionally, a new Starbucks coffeehouse and drive-through will be opening at this plaza. The front three-bedroom townhome is a fully-detached, private residence and is approximately 1,300 square feet. All units have forced-air heat, central air conditioning, and individually-attached garages. There is plenty of off-street parking on this 15,253 square-foot lot which measures 233 feet deep. 2218 Pacific Avenue has been owner-managed for occupancy, with family members occupying the front unit, and long-term 20+ year residents here as well. There is significant rental upside. All units have varying levels of upgrades and show very well. All five units are spacious townhome-style and include a fireplace, balcony, large private yard, forced-air heating, separate hot water heater, individual unit water shut-off valves, step-up dining and kitchen areas, large walk-in closets, windows and sliders (most are upgraded to vinyl), individual laundry hook-ups, and all are separately metered. Additionally, all units have some upgrades including but not limited to laminate wood-style floors, plumbing fixtures, tile flooring, base molding, tile counters, newer appliances, stainless appliances, and powder-coated stair rails. Overall, the unit interiors show well. The front unit was extensively upgraded with all new tile flooring and remodeled bathrooms and kitchen. It has a very large, private yard and attached two-car garage with direct access from the unit interior. There are pitched composition roof systems on all structures. There are six total enclosed garages and 15 open parking spaces. The back townhouse unit has additional open parking spaces and a very large and exceptionally private yard. Rents are very low with the owner’s family occupying Unit A and established long-term tenants in other units. There is a significant rental upside attainable to achieve market rents. Unit A has proforma current rent as $2,995 with market rent of $3,150. These are proforma rents and this unit will be vacant at the close of escrow or occupancy/terms shall be negotiated at the time of a Purchase and Sale Agreement.