$1,800,000
 $9,663 est/mo Sourced by Back At You

758 W 20th Street , Costa Mesa, CA 92627

Costa Mesa, CA 92627

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Description

Unlock the potential of this four-unit property in a prime Westside location of Costa Mesa! This property offers tremendous upside potential for investors looking to capitalize on below-market rents and increasing equity. Each of the four 2-bedroom, 1-bathroom units comes with its own garage, offering a desirable and convenient layout for tenants. All units are currently tenant-occupied on a month-to-month basis, presenting an incredible opportunity for the new owner to make upgrades and increase rents to market levels. With rents currently well below market value, this property is ideal for an investor looking to renovate and reposition. Inquire with the City to see if an ADU can be constructed either on top of the garage or built on the existing large 9,211 sqft lot. Market rents in the area for similar units are estimated at $2,700 per unit, giving the new owner the chance to bring the monthly gross income to over $11,000, and offers the investor a fantastic opportunity with generating a 5%+ cap rate; thereby making it an excellent addition to any real estate portfolio. Whether you’re an experienced investor or looking for your first multi-unit property, this gem of a building promises long-term growth and significant returns. Situated in a highly desirable area, close to shopping, dining, freeway and just minutes from the beach, this is a can't-miss opportunity for those seeking both cash flow and future appreciation. Whether you plan to improve and hold...or renovate and resell, the upside is undeniable. This is your chance to create significant equity while tapping into the strong rental demand in this vibrant community. This is your chance to secure a property with significant equity upside and tap into Costa Mesa’s growing rental market. Don’t miss outopportunities like this are few and far between!

Details

MLS#OC24207896
Listing TypeFor Sale
StyleTown House
Sub-TypeResale
StatusActive Under Contract
Year1972
Days On Site27
Listing Provided ByEngel & Voelkers Newport Beach 949-996-7375 | Ramzi Ataya

Features

SQ Feet3,384
Garage4
Story(s)2
Units4
Building(s)1
Acreage0.21
Property ViewNone

Market Activity 92627

MLS Internet Data Exchange (IDX) information is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing, and that the data is deemed reliable but is not guaranteed accurate by the California Regional MLS.

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Listings Checked: 5 minutes ago
StateCA
CountyOrange
CityCosta Mesa
Zip Code92627
AreaC2 Southwest Costa Mesa
Community Name,Westside Costa Mesa
Listing VS Median (in ,Westside Costa Mesa)
Price:
$1,800,000
low | high
Med:
$0
On Site:
27
low | high
Med:
Sourced by Back At You
Listing Updated: October 31, 2024 at 4:13:11 PM PDT
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