Exceptional Investment Opportunity – Two detached homes on a large 9,218-square-foot parcel! Located in the rapidly appreciating West Side Costa Mesa area, this property is ideal for investors, developers, or homeowners seeking rental income. The prime property presents a promising opportunity for investors to increase income by adjusting the existing below-market lease rates to market value.The recently renovated front home has 3 bedrooms and 1 full bathroom, featuring a spacious, gated front yard. The open floor plan offers vaulted ceilings, wood flooring, and a brick fireplace, with abundant natural light streaming through skylights and windows. An independent, gated rear yard attached to this house provides the perfect space for private relaxation or entertaining. The front home is currently vacant and available for lease, with high interest already expressed by potential tenants. It is actively listed for lease at $3,900 per month.The rear detached home, with its own private, gated backyard, includes 4 bedrooms and 2 bathrooms. The open living room and kitchen create a seamless flow, leading to an expansive outdoor area shaded by mature trees for added privacy and tranquility. The current long-term tenant in the rear is on a month-to-month lease at $3,600 per month, while similar neighboring rentals are achieving up to $4,200 per month, highlighting potential for increased rental income. Each home has a separate laundry area, a one-car garage, and ample off-street parking.Conveniently situated near the vibrant 17th Street scene and the iconic beaches of Newport Beach, this duplex offers an outstanding opportunity for income generation and capital growth in a highly sought-after location. Zoned for multifamily development, this property presents prime development potential. Don’t miss out on this incredible opportunity!
DAYS ON MARKET
|
38
|
LAST UPDATED
|
11/8/2024
|
TRACT
|
Westside Costa Mesa South (WSCM)
|
YEAR BUILT
|
1961
|
COMMUNITY
|
Southwest Costa Mesa
|
GARAGE SPACES
|
2.0
|
COUNTY
|
Orange
|
STATUS
|
Active
|
PROPERTY TYPE(S)
|
Residential Income
|
|
|
AIR |
None |
APPLIANCES |
Built-In Range, Disposal, Gas Cooktop, Gas Oven, Gas Range, Water Heater |
AREA |
Southwest Costa Mesa |
FIREPLACE |
Yes |
GARAGE |
Assigned, Yes |
HEAT |
Forced Air, Wall Furnace |
HOA DUES |
0 |
INTERIOR |
All Bedrooms Down, Beamed Ceilings, Bedroom on Main Level, Cathedral Ceiling(s), Ceramic Counters, Open Floorplan, Tile Counters, Unfurnished, Walk-In Closet(s) |
LOT |
9218 sq ft |
LOT DESCRIPTION |
2-5 Units/Acre, Back Yard, Front Yard, Landscaped, Lawn, Level, Near Public Transit, Paved, Rectangular Lot, Trees, Yard |
LOT DIMENSIONS |
71 x 130 |
PARKING |
Assigned |
POOL DESCRIPTION |
None |
SEWER |
Public Sewer |
STORIES |
1 |
STYLE |
Ranch |
SUBDIVISION |
Westside Costa Mesa South (WSCM) |
UTILITIES |
Cable Connected,Electricity Connected,Natural Gas Connected,Phone Available,Phone Connected,Sewer Connected,Water Connected,Overhead Utilities |
VIEW DESCRIPTION |
None |
WATER |
Public |
ZONING |
R2 |
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Listed with Arbor Real Estate
The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable copyright laws. Information provided is for viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and CRMLS and its affiliates do not warrant or guarantee such accuracy. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional.
Based on information from California Regional Multiple Listing Service, Inc. as of 12/9/24 8:14 AM PST and /or other sources. 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
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