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$ 3,700,000
Est. payment | /mo
7 Beds
4 Baths
0.54 Acres Lot
$ 3,700,000
Est. payment | /mo
7 Beds
4 Baths
0.54 Acres Lot
Key Details
Property Type Multi-Family
Sub Type Res Income 2-4 Units
Listing Status Active
Purchase Type For Sale
MLS Listing ID PW25077806
Bedrooms 7
HOA Y/N No
Lot Size 0.540 Acres
Property Sub-Type Res Income 2-4 Units
Property Description
Spectacular value add investment opportunity! This incredible 7 unit asset is situated on a large open lot in the heart of everything that's wonderful about Southern California! Costa Mesa is the neighboring city to Newport Beach, which houses some of Southern Californias most expensive real estate, high-end car dealerships, magnificent restaurants and boutiques. 2585 & 2589 Orange Ave is situated within a 5 minutes to 15 minute drive to South Coast Plaza, the largest and arguably the best high-end shopping on the West Coast, Newport Peninsula, Fashion Island, Corona Del Mar and Huntington Beach. The asset itself is comprised of One, 3 bedroom x 1 bathroom single family residence Two, 2 bedroom x 1 bathroom cottages, Two 1 bedroom x 1 bathroom cottages and Two, 1 bedroom x 1 bathroom upper-level units. Each unit has its own garage (7 in total) with 5 carports and 8 additional onsite parking spaces. All seven units have interior laundry. The asset is well managed and beautifully maintained. Current GSI is running approximately 40% below market in current condition. The Single Family Residence and all four cottages have their own large side yards, which create's its own personal space inside a community environment. ADU potential and room to add significant value, this asset will be in high demand!
Spectacular value add investment opportunity! This incredible 7 unit asset is situated on a large open lot in the heart of everything that's wonderful about Southern California! Costa Mesa is the neighboring city to Newport Beach, which houses some of Southern Californias most expensive real estate, high-end car dealerships, magnificent restaurants and boutiques. 2585 & 2589 Orange Ave is situated within a 5 minutes to 15 minute drive to South Coast Plaza, the largest and arguably the best high-end shopping on the West Coast, Newport Peninsula, Fashion Island, Corona Del Mar and Huntington Beach. The asset itself is comprised of One, 3 bedroom x 1 bathroom single family residence Two, 2 bedroom x 1 bathroom cottages, Two 1 bedroom x 1 bathroom cottages and Two, 1 bedroom x 1 bathroom upper-level units. Each unit has its own garage (7 in total) with 5 carports and 8 additional onsite parking spaces. All seven units have interior laundry. The asset is well managed and beautifully maintained. Current GSI is running approximately 40% below market in current condition. The Single Family Residence and all four cottages have their own large side yards, which create's its own personal space inside a community environment. ADU potential and room to add significant value, this asset will be in high demand!
Spectacular value add investment opportunity! This incredible 7 unit asset is situated on a large open lot in the heart of everything that's wonderful about Southern California! Costa Mesa is the neighboring city to Newport Beach, which houses some of Southern Californias most expensive real estate, high-end car dealerships, magnificent restaurants and boutiques. 2585 & 2589 Orange Ave is situated within a 5 minutes to 15 minute drive to South Coast Plaza, the largest and arguably the best high-end shopping on the West Coast, Newport Peninsula, Fashion Island, Corona Del Mar and Huntington Beach. The asset itself is comprised of One, 3 bedroom x 1 bathroom single family residence Two, 2 bedroom x 1 bathroom cottages, Two 1 bedroom x 1 bathroom cottages and Two, 1 bedroom x 1 bathroom upper-level units. Each unit has its own garage (7 in total) with 5 carports and 8 additional onsite parking spaces. All seven units have interior laundry. The asset is well managed and beautifully maintained. Current GSI is running approximately 40% below market in current condition. The Single Family Residence and all four cottages have their own large side yards, which create's its own personal space inside a community environment. ADU potential and room to add significant value, this asset will be in high demand!
Location
State CA
County Orange
Area Oc - Costa Mesa (92627)
Zoning Estimated
Exterior
Parking Features Unit1:Assigned
Roof Type Composition
Building
Lot Description Curbs, Sidewalks
Story 1
Level or Stories 1 Story
Others
Acceptable Financing Cash, Conventional
Space Rent $2,410
Listing Terms Cash, Conventional
Listed by Cameron Jacques • Kinnery's Brokerage House
"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "