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2350 Santa Ana Ave
Costa Mesa, CA 92627
Multifamily Property For Sale
·
6 Units
Investment Highlights
- Versatile Six-Unit Complex: Features one and two-bedroom apartments, each with private outdoor spaces.
- Stable Income Stream: Master leased at $25,000 per month until October 2025, yielding a 5.50% capitalization rate.
- Multifamily Market Flexibility: Potential repositioning as a multifamily asset with a projected 4.00% cap rate.
- Extensive Renovations: High-end updates to interiors and infrastructure, with remaining units to be completed before close.
- Future Redevelopment Potential: Lot approved for development into five detached 1,700 sq. ft. three-bedroom condominium units.
- Prime Coastal Location: Located in the highly desirable and supply-constrained Eastside Costa Mesa area.
Property Facts
| No. Units | 6 | Lot Size | 0.41 AC |
| Property Type | Multifamily | Building Size | 4,427 SF |
| Property Subtype | Apartment | No. Stories | 1 |
| Apartment Style | Low-Rise | Year Built | 1963 |
| Building Class | C | Parking Ratio | 2.03/1,000 SF |
| Zoning | R2 - Residential Mixed Used | ||
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.41 AC |
| Building Size | 4,427 SF |
| No. Stories | 1 |
| Year Built | 1963 |
| Parking Ratio | 2.03/1,000 SF |
| Zoning | R2 - Residential Mixed Used |
Amenities
Unit Amenities
- Air Conditioning
- Washer/Dryer
- Hardwood Floors
- Stainless Steel Appliances
Site Amenities
- Courtyard
- Fenced Lot
- Basketball Court
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 2 | - | 572 |
| 2+2 | 4 | - | 590 - 890 |
Property Taxes
| Parcel Number | 439-231-15 | Improvements Assessment | $216,485 |
| Land Assessment | $3,030,811 | Total Assessment | $3,247,296 |
Property Taxes
Parcel Number
439-231-15
Land Assessment
$3,030,811
Improvements Assessment
$216,485
Total Assessment
$3,247,296
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