617 Victoria Street, Costa Mesa, CA 92627
-
Listed Price :
$5,995,000
-
Beds :
N/A
-
Baths :
N/A
-
Property Size :
N/A sqft
-
Year Built :
1955
Property Description
**MILLION DOLLAR PRICE REDUCTION, SELLER WILL MOVE THIS ASSET. ALL OFFERS ARE ENCOURAGED**
Introducing an exceptional investment opportunity at 615-617 Victoria Street, brought to you by. Spanning three parcels, totaling 1.32 acres, the property presents an array of prospects. Currently there are 12 single-story residences, each with 2 bedrooms and 1 bathroom, a single-car garage, washer/dryer hookups, and private patio. Nestled within the property is a sprawling tree lined, grassy courtyard. With strategic renovations, savvy investors stand to unlock substantial rental upside, potentially exceeding 40% on the existing units alone. Furthermore, ADU regulations established by the city of Costa Mesa present the opportunity to add more units, amplifying rental income and elevating the property's overall value.
For developers seeking a larger project in the Costa Mesa market, this property is an unparalleled find. Positioned in the Mesa West Residential Urban Plan, these parcels offer a rare chance for redevelopment, allowing for the creation of new apartments or saleable units with increased density compared to other opportunities in the area. Plus, it is located in an Opportunity Zone.
Don't miss out on this investment opportunity, combining current rental income potential with significant future growth prospects.
Interior Features
| Laundry Information |
| Location(s) |
None |
| Bedroom Information |
| Bedrooms |
N/A |
| Bathroom Information |
| Bathrooms |
N/A |
Listing Information
| Address |
617 Victoria Street |
| City |
Costa Mesa |
| State |
CA |
| Zip |
92627 |
| County |
Orange |
| Listing Agent |
ALBERT LE DRE #01468313 |
| Co-Listing Agent |
DARREN CORREA DRE #02066621 |
| Courtesy Of |
LE INVESTMENT GROUP |
| List Price |
$5,995,000 |
| Status |
Active Under Contract |
| Type |
Residential Income |
| Subtype |
Apartment |
| Structure Size |
N/A |
| Lot Size |
20,038 |
| Year Built |
1955 |
Listing information courtesy of: ALBERT LE, DARREN CORREA, LE INVESTMENT GROUP. *Based on information from the Association of REALTORS/Multiple Listing as of Sep 30th, 2024 at 6:37 PM and/or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
