Active
2350 Santa Ana Avenue
Costa Mesa CA, 92627
$4,500,000
$1,016.49 per sqft
Active
4,427 sqft
Condos
Built in 1963
Listed by Tyler Leeson with Marcus & Millichap RE Invest tleeson@marcusmillichap.com
Introducing 2350 Santa Ana Ave, a six-unit apartment complex in Eastside Costa Mesa, CA. Built in 1963 and renovated in 2023-2024, the property blends modern comforts with classic charm on an 18,061 sq. ft. lot. It features a mix of one-, two-, and two-bedroom + den units with private outdoor spaces.
Three units have been fully upgraded with new electrical and plumbing systems, energy-efficient windows, split HVAC units, premium flooring, custom cabinetry, designer bathrooms, and stainless steel appliances. The remaining three units will be similarly renovated before closing, making the property turnkey.
Currently master leased through October 2025, the property generates $25,000 per month, offering a 5.50% cap rate with minimal owner obligations. Additionally, it holds future potential with an approved plan for five 1,700 sq. ft. condominium units.
Whether continuing the lease, repositioning as multifamily, or redeveloping, 2350 Santa Ana Ave offers multiple paths to long-term value creation.
OC24175525
MLSⓇ ID
August 23, 2024
Listed
October 17, 2024
Updated
Map
2350 Santa Ana Avenue
Costa Mesa CA, 92627
Interior Features
Total Stories
1
Appliances
Dryer, Washer
Fireplace
No
Cooling
No
Heating
No
Exterior/Building Features
Lot Size
0.41 Acres
Lot Features
Street Level
Sewer
Public Sewer
Other Property Details
Area Name
C5 - East Costa Mesa
Days on Market
35
Garage
Yes
Garage Spaces
4
Parking Total
9
View
No
County
Orange
Water Source
Public
Pool
No
Pool Features
None
Listing Contact: 949-419-3200
Based on information from the California Regional Multiple Listing Service (CRMLS) as of 10/17/2024. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, the Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. Any offer of compensation is made only to participants of the MLS where the listing is filed.
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Data last updated on 10/17/2024 at 10:18 AM UTC