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
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©2024 Combined L.A./Westside MLS. All rights reserved.
Data last updated 11/22/2024