INVESTORS & BUILDERS, close on this excellent development opportunity with City entitlements, final County map, and full sets of permit ready plans. City of Costa Mesa approved lot split using their Small Lot Ordinance (SLO) guidelines. 2 nearly identical lots have been created from this prime oversized lot of 10,817 SF. Each new lot will be approx. 53' wide by 102' deep, totaling 5,406 SF. On each lot will be one 2-story, 4 bed & 3.5 bath front house of 2,266 SF, plus a single level detached ADU in the back with 2 beds & 2 baths in 884 SF. Architecture is coastal modern farmhouse by Bryant Palmer & Soto. Features will include high volume and vaulted ceilings, great rooms and lofts, upstairs laundry rooms, indoor/outdoor feel, oversized garages, private yards, separate gated entries, welcoming front porches and patios. ADUs will have separate and private entries and all yards will be privately fenced. All units separately metered with electric and gas. Outdoor spaces by BGB Design Group will be soothing places to rest, rejuvenate and entertain with California friendly landscaping and practical yet aesthetically pleasing hardscape surfaces. Just around the corner are Fairview Park and Talbert Nature Preserve, and Santa Ana River trails with beach access. Just a few blocks from excellent Waldorf School. These homes and ADUs will be terrific residences for their occupants. Conservative rental pro forma is $6,500-$7,000/mo for the front houses and $3,500-$3,750/mo for the ADUs. The development project offers many options for the lucky buyer: 1.) Develop and sell for profit; 2.) Develop and rent all units out, then hold for the long-term appreciation and tax write offs; 3.) Build for yourself and move into one and rent the others; 4.) Build both lots, then sell one off to pay for the one you keep; and/or 5.) Purchase for your 1031 exchange to defer capital gains taxes. What is your plan? Reach out to Bixby Residential and allow us to consult with you on your options, connect you with our development team, and introduce you to potential contractors for the build out should you need one. *NOTE: Listing has supplements.
|
DAYS ON MARKET
|
8
|
LAST UPDATED
|
10/22/2024
|
|
TRACT
|
,NEW
|
YEAR BUILT
|
2025
|
|
COMMUNITY
|
Southwest Costa Mesa
|
GARAGE SPACES
|
4.0
|
|
COUNTY
|
Orange
|
STATUS
|
Active
|
|
PROPERTY TYPE(S)
|
Single Family
|
|
|
| School District |
Newport Mesa Unified |
| AIR |
Central Air |
| AIR CONDITIONING |
Yes |
| APPLIANCES |
Dishwasher, Gas Oven, Gas Range, Gas Water Heater, Microwave, Range Hood, Refrigerator |
| AREA |
Southwest Costa Mesa |
| CONSTRUCTION |
Board & Batten Siding, Stucco |
| GARAGE |
Direct Access, Garage, Oversized, Yes |
| HEAT |
Forced Air |
| HOA DUES |
0 |
| INTERIOR |
Bedroom on Main Level, Entrance Foyer, High Ceilings, Loft, Open Floorplan, Primary Suite, Separate/Formal Dining Room, Walk-In Closet(s), Wired for Data, Wired for Sound |
| LOT |
10817 sq ft |
| LOT DESCRIPTION |
Back Yard, Drip Irrigation/Bubblers, Front Yard, Landscaped, Near Park, Sprinklers Timer |
| PARKING |
Direct Access,Garage,Oversized |
| POOL DESCRIPTION |
None |
| SEWER |
Public Sewer |
| STORIES |
1 |
| STYLE |
Custom, Ranch, Traditional |
| SUBDIVISION |
,NEW |
| UTILITIES |
Cable Available,Electricity Connected,Natural Gas Connected,Sewer Connected,Water Connected, Electric: 220 Volts in Garage,220 Volts in Laundry |
| VIEW DESCRIPTION |
None |
| WATER |
Public |
| ZONING |
R2MD |
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Listed with Compass
The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable copyright laws. Information provided is for viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and CRMLS and its affiliates do not warrant or guarantee such accuracy. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional.
Based on information from California Regional Multiple Listing Service, Inc. as of 10/29/24 8:26 PM PDT and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information
This IDX solution is (c) Diverse Solutions 2024.
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