Active
2350 Santa Ana AVE
COSTA MESA CA, 92627
$4,500,000
$1,016.49 per sqft
Active
3 Beds
3 Baths
4,427 sqft
Multi-family
Built in 1963
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.
OC24175525MR
MLSⓇ ID
August 23, 2024
Listed
September 13, 2024
Updated
Map
2350 Santa Ana AVE
COSTA MESA CA, 92627
Interior Features
Total Stories
1
Bedrooms
3
Total Bathrooms
3
Laundry Description
Dryer, Dryer Included, Washer, Washer Included
Fireplace
No
Cooling
No
Heating
No
Exterior/Building Features
Lot Size
0.41 Acres
Sewer
Public Sewer
Other Property Details
Area Name
East Costa Mesa
Days on Market
11
Garage
Yes
Garage Spaces
4
Parking Total
9
View
No
County
Orange
Water Source
Public
Pool
No
Pool Features
None
Listed by Tyler Leeson with Marcus & Millichap RE Invest
Listing Contact: 949-419-3326
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 9/13/2024
