See all 32 photos
32 photos
REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your advisor will contact you to discuss available opportunities.
In-PersonVirtual Tour
$5,995,000
Est. payment /mo
2 Beds
1 Bath
0.46 Acres Lot
UPDATED:
12/07/2024 06:02 AM
Key Details
Property Type Multi-Family
Sub Type Res Income 2-4 Units
Listing Status Pending
Purchase Type For Sale
MLS Listing ID IV24120357
Bedrooms 2
HOA Y/N No
Lot Size 0.460 Acres
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.
**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.
**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.
Location
State CA
County Orange
Area Oc - Costa Mesa (92627)
Zoning Public Rec
Building
Story 1
Level or Stories 1 Story
Others
Monthly Total Fees $174
Acceptable Financing Conventional
Space Rent $3,250
Listing Terms Conventional
Read Less Info
Listed by ALBERT LE • LE INVESTMENT GROUP
GET MORE INFORMATION
Mary Ellen Haywood
Broker Associate | CA DRE#01264878
Broker Associate CA DRE#01264878