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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!
Property Type(s):
Residential Income
| Last Updated | 11/8/2024 | Tract | Westside Costa Mesa South (WSCM) |
|---|---|---|---|
| Year Built | 1961 | Community | Southwest Costa Mesa |
| Garage Spaces | 2.0 | County | Orange |
Additional Details
| 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 |
Location
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Listed with Arbor Real Estate
The information being provided by Conejo Simi Moorpark Association of REALTORS® (“CSMAR”) is for the visitor's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. Any information relating to a property referenced on this web site comes from the Internet Data Exchange (“IDX”) program of CSMAR. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. Any information relating to a property, regardless of source, including but not limited to square footages and lot sizes, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals. The data contained herein is copyrighted by CSMAR and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.
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