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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.
Property Type(s):
Residential Income
| Last Updated | 8/23/2024 | Tract | ,Santa Ana Heights |
|---|---|---|---|
| Year Built | 1963 | Community | East Costa Mesa |
| Garage Spaces | 4.0 | County | Orange |
Additional Details
| APPLIANCES | Dryer, Washer |
|---|---|
| AREA | East Costa Mesa |
| GARAGE | Yes |
| HOA DUES | 0 |
| LOT | 0.41 acre(s) |
| LOT DESCRIPTION | Street Level |
| POOL DESCRIPTION | None |
| SEWER | Public Sewer |
| STORIES | 1 |
| SUBDIVISION | ,Santa Ana Heights |
| WATER | Public |
Location
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Listed with Marcus & Millichap RE Invest
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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