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.
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DAYS ON MARKET
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68
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LAST UPDATED
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8/23/2024
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TRACT
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,Santa Ana Heights
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YEAR BUILT
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1963
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COMMUNITY
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East Costa Mesa
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GARAGE SPACES
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4.0
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COUNTY
|
Orange
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STATUS
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Active
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PROPERTY TYPE(S)
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Residential Income
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| APPLIANCES |
Dryer, Washer |
| AREA |
East Costa Mesa |
| GARAGE |
Yes |
| HOA DUES |
0 |
| LOT |
0.41 acre(s) |
| LOT DESCRIPTION |
Street Level |
| POOL DESCRIPTION |
None |
| SEWER |
Public Sewer |
| STORIES |
1 |
| SUBDIVISION |
,Santa Ana Heights |
| WATER |
Public |
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Listed with Marcus & Millichap RE Invest
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 10/30/24 12:30 AM 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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