284 16th Pl
Costa Mesa, CA 92627
16th Place Triplex · Multifamily Property For Sale · 3 Units

Rarely available Eastside Costa Mesa triplex directly adjacent to the coveted neighborhood of Newport Heights. This is the first time that the property has been offered for sale in 30 years. This property has a desirable unit mix of (1) two-bedroom, one-bathroom front unit plus den and (2) two-bedroom, 1.5-bathroom townhouses. All of the units have private patios and the front unit has a large, enclosed yard with awnings, columns, brick pavers, and six-foot hedges against the sidewalk. The current owner has occupied Unit A for years and another family member has occupied Unit B for the last five years. The ownership is using all three garage spaces. Additionally, there are three open parking spaces adjacent to the garages as well as ample street parking. Unit A is highly renovated with a fireplace, granite countertops, and upgraded cabinets in the kitchen, and marble tile flooring throughout the interior except for the bedrooms. The bathroom in the front unit also has granite countertops and the bathtub enclosure is tiled up to the ceiling. Unit B also has granite countertops, upgraded wood laminate flooring and renovated cabinets in the kitchen. Each townhouse unit has a bedroom with a large walk-in closet in addition to a closet with sliding doors. All of the units have washer-dryer hookups and all of the windows throughout the property have been upgraded to vinyl. Each unit has its own hot water heater. Financial records will show rental income for only unit C for the last 5 years which is rented at $1,949/month. The Pro Forma shows current rents with three resident occupants. The owner will vacate Units A and B at the close of escrow or a month-to-month leaseback can/will be negotiated. The building is located within walking distance to the 17th Street Corridor and a short drive to Triangle Square, Newport Harbor, the Peninsula, and the coastal beaches from Corona Del Mar to Huntington Beach.