$3,800,000
$4,450,000
14.6%For more information regarding the value of a property, please contact us for a free consultation.
8 Beds
8 Baths
0.33 Acres Lot
SOLD DATE : 10/03/2024
Key Details
Sold Price $3,800,000
Property Type Multi-Family
Sub Type Res Income 2-4 Units
Listing Status Sold
Purchase Type For Sale
MLS Listing ID NP24059586
Sold Date 10/03/24
Bedrooms 8
HOA Y/N No
Lot Size 0.333 Acres
Property Description
Welcome to 1012 & 1018 Mission Drive in the Mesa Del Mar enclave of Costa Mesa. These adjacent four-unit apartment buildings showcase an array of 2-bedroom/1.5-bathroom townhouse-style units, each accompanied by its own private yard. With an average unit size of approximately 1,175 square feet, these residences epitomize comfortable living. The property boasts a substantial community courtyard nestled between the two buildings. Notably, the seller has recently renovated four of the eight units since 2021, creating an attractive prospect for savvy investors to enhance the remaining four units and leverage competitive market rents. Tenants are offered garages and off-street parking, along with dedicated laundry rooms within each building. The strategic location of the property ensures easy accessibility to the best of Costa Mesa, including renowned destinations such as South Coast Plaza, The Camp, The LAB, and the Harbor Blvd shopping corridor. Additionally, tenants enjoy seamless connectivity with quick access to major freeways, including the 405, 55, and 73 Freeways. This property not only promises a secure investment but also positions itself as an inviting residential haven at the heart of Costa Mesa's vibrant offerings.
Welcome to 1012 & 1018 Mission Drive in the Mesa Del Mar enclave of Costa Mesa. These adjacent four-unit apartment buildings showcase an array of 2-bedroom/1.5-bathroom townhouse-style units, each accompanied by its own private yard. With an average unit size of approximately 1,175 square feet, these residences epitomize comfortable living. The property boasts a substantial community courtyard nestled between the two buildings. Notably, the seller has recently renovated four of the eight units since 2021, creating an attractive prospect for savvy investors to enhance the remaining four units and leverage competitive market rents. Tenants are offered garages and off-street parking, along with dedicated laundry rooms within each building. The strategic location of the property ensures easy accessibility to the best of Costa Mesa, including renowned destinations such as South Coast Plaza, The Camp, The LAB, and the Harbor Blvd shopping corridor. Additionally, tenants enjoy seamless connectivity with quick access to major freeways, including the 405, 55, and 73 Freeways. This property not only promises a secure investment but also positions itself as an inviting residential haven at the heart of Costa Mesa's vibrant offerings.
Location
State CA
County Orange
Area Oc - Costa Mesa (92626)
Zoning Assessor
Exterior
Parking Features Unit1:Assigned
Building
Lot Description Curbs, Sidewalks
Story 2
Level or Stories 2 Story
Others
Monthly Total Fees $132
Acceptable Financing Cash
Space Rent $2,956
Listing Terms Cash
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Bought with Nick Gould • Gould Group Inc
"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "