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RARE INVESTMENT PROPERTY INDEED!!! Remodeled Single story Duplex. Built in 1970 with a completely separate Two Story 4 Bedroom House added at the rear of the lot. The Two Story House, built in 1996 is 1,730 Sq. Ft. and has a 2-car garage. The Duplex has a total of 2,293 Sq. Ft. The total Square footage for the Duplex + House is 4,023 Sq. Ft. Each unit in the Duplex has Central Heat. 2br unit has 1.5 bath. The Duplex has been beautifully remodeled in the last year or so with new windows kitchens, Baths and new flooring. The Roofs on the duplex and House were replaced in 2017. This property is in the highly desirable and popular "Spice Street Tract" of 4-Plexes in Costa Mesa. Each unit has its own washer and dryer hook-ups. Extremely large 13,291 Square Foot Lot which allowed for the addition of the 2 story 4br - 2ba separate House built to the rear of the duplex in 1996. This is truly a very Unique opportunity to purchase an exceptional 3 unit investment property with huge income potential. Market rents could generate $124,800 in gross income per year which is more than most of the 4-plexes in the tract. Lease on the 4br currently at $3,376 is ending on September 30, 2024 and can now be raised to $3,675 within the boundaries of CA rent control assuming the cost of living index remains at 3.9%. There is one 2-car garage, one single garage plus 9 open parking spaces, all on concrete, which includes one space in front of each garage. The trash expense is included in the special assessments portion of the property tax bill. So, with this property you will have no Trash Dumpster bill as you would with most properties. Also, it has separate water heaters for each unit. Long term tenants in both duplex units and all 3 rents can be increased on Oct. 1, 2025. There is still the potential to build an ADU or to add onto the Duplex and/or the House. Lots of opportunity to increase income. Additionally, there is no alley to contend with. All the parking is on beautiful concrete (no asphalt with pothole issues). The location in the tract couldn't be better as it is SUPER QUIET for the serenity and peace of all your tenants. Also, there are no tenants above or below another tenant. You will look for a very long time to find another 3 unit property with the amenities of this one. So, hurry on this one to allow yourself the opportunity to own an investment property of this caliper and one that you will want to own for a very long time!!!
Property Type(s):
Residential Income
| Last Updated | 3/1/2025 | Tract | OTHER |
|---|---|---|---|
| Year Built | 1970 | Community | Mesa Verde |
| Garage Spaces | 3.0 | County | Orange |
Additional Details
| APPLIANCES | Dishwasher |
|---|---|
| AREA | Mesa Verde |
| CONSTRUCTION | Stucco |
| FIREPLACE | Yes |
| GARAGE | Door-Multi, Door-Single, Garage, On Street, Unassigned, Uncovered, Yes |
| HEAT | Central, Fireplace(s), Forced Air |
| HOA DUES | 0 |
| INTERIOR | Stone Counters, Unfurnished |
| LOT | 0.31 acre(s) |
| LOT DESCRIPTION | 0-1 Unit/Acre, Irregular Lot, Lawn, Sprinkler System, Street Level |
| PARKING | Door-Multi,Door-Single,Garage,On Street,Unassigned,Uncovered |
| POOL DESCRIPTION | None |
| SEWER | Public Sewer |
| STORIES | 1 |
| STYLE | Contemporary |
| SUBDIVISION | OTHER |
| UTILITIES | Cable Available,Cable Connected,Electricity Available,Electricity Connected,Natural Gas Available,Natural Gas Connected, Electric: Electricity - On Property,Standard,Unknown |
| WATER | Public |
Location
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Listed with New Dimension Investment Prop
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