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315 University Drive presents a high-density development opportunity on a 9,148 square foot lot zoned R-4 in Costa Mesa. Architectural studies illustrate two distinct paths: a for-sale configuration featuring four spacious 2-bedroom condominium residences with a separate structure offering two additional 2-bedroom ADUs, all supported by parking within a shared ground-level garage; or a rental-focused design allowing for up to 20 units comprised of a mix of two-bedroom and studio apartments. The apartment concept includes structured parking. The contemporary three-story design features private patios and balconies, elevator access, and a modern coastal architectural aesthetic as depicted in the renderings, which are for illustrative purposes only. With flexible development potential in a supply-constrained submarket, this property offers multiple strategies for build-to-sell, build-to-rent, or long-term hold. Buyer to verify all development standards and requirements with the City of Costa Mesa and the County of Orange. Architectural floor plans are available upon request.
Property Type(s):
Single Family
| Last Updated | 2/25/2026 | Tract | Other |
|---|---|---|---|
| Year Built | 1954 | Community | C5 - East Costa Mesa |
| Garage Spaces | 2.0 | County | Orange |
Additional Details
| AIR | Central Air |
|---|---|
| AIR CONDITIONING | Yes |
| AREA | C5 - East Costa Mesa |
| FIREPLACE | Yes |
| GARAGE | Attached Garage, Yes |
| HEAT | Central, Forced Air |
| LOT | 9148 sq ft |
| LOT DIMENSIONS | 9148 |
| PARKING | Attached |
| POOL DESCRIPTION | None |
| SEWER | Public Sewer |
| STORIES | 1 |
| SUBDIVISION | Other |
| VIEW DESCRIPTION | None |
| WATER | Public |
Location
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Listed with Compass
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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