See all 19 photos

$4,500,000

Est. payment - /mo

Save

4,427 SqFt

Active

2350 Santa Ana AVE Costa Mesa, CA 92627

Save

In-PersonVirtual Tour

Nathan King Real Estate Group

info@kingrealestate.group +1(559) 396-0000

UPDATED:

09/30/2024 05:39 PM

Key Details

Property Type Condo

Sub Type Apartment

Listing Status Active

Purchase Type For Sale

Square Footage 4,427 sqft

Price per Sqft $1,016

Subdivision ,Santa Ana Heights

MLS Listing ID OC24175525

HOA Y/N No

Year Built 1963

Lot Size 0.410 Acres

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

Fireplace No

Appliance Dryer, Washer

Exterior

Garage Spaces 4.0

Garage Description 4.0

Pool None

Community Features Curbs, Gutter(s), Sidewalks

Total Parking Spaces 9

Private Pool No

Building

Lot Description Street Level

Story 1

Entry Level One

Sewer Public Sewer

Water Public

Level or Stories One

New Construction No

Others

Senior Community No

Tax ID 43923115

Acceptable Financing Cash, Cash to New Loan, 1031 Exchange

Listing Terms Cash, Cash to New Loan, 1031 Exchange

Special Listing Condition Standard

Listed by Tyler Leeson • Marcus & Millichap RE Invest • tleeson@marcusmillichap.com

Get More Information

Nathan King Real Estate Group

Broker | License ID: 01878277

+1(559) 396-0000

Quick Search