Pending

984 Mission DR

COSTA MESA CA, 92626

$3,963,888


$486.37 per sqft

Pending

6 Beds

6 Baths

8,150 sqft

Multi-family

Built in 1964

Roof tune-ups completed in 2024, with 5-year warranty. New electrical panels installed in 2024. This is an exceptional investment opportunity in the sought-after Mesa Del Mar enclave of Costa Mesa. Built in 1964, the property is situated on a 6,935-square-foot lot with well-maintained landscaping that reflects a well-kept property. These buildings offer a diverse configuration of units, including a 3-bedroom/2.5-bathroom townhouse, a 2-bedroom/1.5-bathroom townhouse, a 1-bedroom/1-bathroom unit, and a studio. Residents enjoy amenities such as a gated, lush community courtyard accessible from both the front and rear, six single-car garages, and a community laundry room. Each property is individually metered for gas and electric, and additional income is generated from the laundry facilities and garage rentals. Strategically located, this property offers easy accessibility to the best of Costa Mesa, including South Coast Plaza, The Camp, The LAB, and the Harbor Blvd shopping corridor. Tenants benefit from quick access to major freeways, including the 405, 55, and 73 Freeways. This well-maintained property represents a secure investment in a prime location, with upside potential. Extensive interior renovations across both 984 and 988 Mission Dr include complete remodels in several units with new kitchens, flooring, and bathrooms, while others have partial updates or require further improvements. While recent renovations and updates have improved the property, there remains value-add potential. Several of the current rents are below market, offering opportunities for rent adjustments. Additionally, multiple units could benefit from further upgrades. Moreover, there is potential to develop Accessory Dwelling Units (ADUs) in the courtyards, which would further enhance rental income. Property owners in the Mesa Del Mar area have already capitalized on identical lots by constructing ADUs in the courtyards and underutilized garages, further demonstrating the potential of this investment.

OC24192192MR

MLS ID

September 5, 2024

Listed

November 22, 2024

Updated

Map

984 Mission DR
COSTA MESA CA, 92626

Interior Features

Total Stories

2


Bedrooms

6


Total Bathrooms

6


Appliances

Community


Laundry Description

Community


Fireplace

No


Cooling

No


Heating

Yes


Heating Description

Wall

Exterior/Building Features

Lot Size

0.16 Acres


Roof

Composition, Shingle


Sewer

Public Sewer

Other Property Details

Area Name

East Costa Mesa


Days on Market

57


Garage

Yes


Garage Spaces

12


Parking

Assigned, Garage - 1 Car


Parking Total

12


View

No


County

Orange


Water Source

Public


Pool

No


Pool Features

None

Listing History

Date

Event

Price

11/13/2024

Pending

10/29/2024

Price change

$3,963,888

-1%

10/29/2024

Active

10/25/2024

Under contract

10/3/2024

Price change

$3,995,000

-7%

Listed by Mark Bridge with Mark Bridge, Broker
Listing Contact: 949-372-4888 

Based on information from The MLSTM / Combined LA/Westside Multiple Listing Service, Inc. IDX information is provided exclusively for consumers' personal, non-commercial use, it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All information is deemed reliable but not guaranteed and should be independently reviewed and verified. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. All properties are subject to prior sale, change or withdrawal, and may or may not be listed by the office/agent presenting the information. Neither listing broker(s) nor Christie’s International Real Estate Southern California shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. 

©2024 Combined L.A./Westside MLS. All rights reserved.

Data last updated 11/22/2024

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