Mark Bridge
This listing was posted on RealtyWW.
$4,295,000
Mission Dr, Costa Mesa, Home For Sale
Price:
$4,295,000
BR/BA:
10+ BR, 10+ BA
Location:
984-988 Mission Dr, Costa Mesa, CA
Description:
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. Many 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. This property offers not only a secure investment but also an inviting residential haven at the heart of Costa Mesas vibrant offerings.For more details: https://realtyww.info/homes_costa-mesa-d525465/for-sale_i76148838
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More About this Listing: Mission Dr, Costa Mesa, Home For Sale
Mission Dr, Costa Mesa, Home For Sale is a 10+ BR 10 Bathroom, 10+ BA, 12 Bathroom Single-Family Homes for Sale at 984-988 Mission Dr in Costa Mesa CA. Find other listings like Mission Dr, Costa Mesa, Home For Sale and listings near 984-988 Mission Dr by searching Oodle Classifieds for 10+ BR 10 Bathroom, 10+ BA, 12 Bathroom Single-Family Homes for Sale in Costa Mesa CA.
Mission Dr, Costa Mesa, Home For Sale is a 10+ BR 10 Bathroom, 10+ BA, 12 Bathroom Single-Family Homes for Sale at 984-988 Mission Dr in Costa Mesa CA. Find other listings like Mission Dr, Costa Mesa, Home For Sale and listings near 984-988 Mission Dr by searching Oodle Classifieds for 10+ BR 10 Bathroom, 10+ BA, 12 Bathroom Single-Family Homes for Sale in Costa Mesa CA.