$ 4,500,000
2350 Santa Ana AVE Costa Mesa, CA 92627
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$ 4,500,000
Est. payment | /mo
$ 4,500,000
Est. payment | /mo
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
MLS Listing ID CROC24175525
Originating Board California Regional MLS
Year Built 1963
Property Description
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.
Location
State CA
County Orange
Area C5 - East Costa Mesa
Interior
Laundry Washer, Dryer
Exterior
Garage Spaces 9.0
Pool None
Building
Lot Description Grade - Level
Story One Story
Water District - Public
Others
Tax ID 43923115
Special Listing Condition Not Applicable
© 2024 MLSListings Inc. All rights reserved.
Listed by Tyler Leeson • Marcus & Millichap RE Invest
"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "