330 University Dr
Costa Mesa, CA 92627
330 University Dr, Costa Mesa, CA · Land For Sale · 0.19 AC

Currently a 3BD/2BA home with multiple garages in the back yard area. We have worked with an architect and the head of the development/planning team of OC Public Works to provide potential development options. There are two distinct architectural renderings: Townhouse Rendering: This concept showcases 5 custom townhomes, and 1 custom ADU, all designed in a modern coastal craftsman style. Each townhome is designed with balconies and two-car garages. This configuration could generate an estimated sale of more than $7 million. Apartment Rendering: This option presents 8 high-end custom apartments plus 2 custom ADU apartments. Each apartment includes a private balcony and a single-car garage equipped with an EV charger. Under this plan, the conservative rental income is estimated at $35,000 monthly and $420,000 annually. This development opportunity offers a wealth of possibilities: 1. Develop and Sell – Build and sell all units for an immediate profit. 2. Develop and Rent – Lease all units to generate steady rental income while benefiting from long-term appreciation and potential tax write-offs. 3. Build and Live – Create your dream property, move into one unit, and rent the others. 4. Build and Retain – Keep one or two townhomes for yourself, then sell the remaining units to offset your investment costs. 5. 1031 Exchange – Use this opportunity to complete your 1031 exchange and defer capital gains taxes.