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2550 Santa Ana Avenue, Costa Mesa, CA 92627

23,209 SqFt Lot

$2,950,000
MLS# NP16170298
2550 Santa Ana Avenue Costa Mesa, CA 92627 photo 1
$2,950,000
Status: Closed
MLS# NP16170298

2550 Santa Ana Avenue,
Costa Mesa, CA 92627

23,209 SqFt Lot

Listing Description for 2550 Santa Ana Avenue

Rare 7 single story, separate cottages in the desirable Eastside Costa Mesa submarket. Long term owners are out of the area and these units have a 40%+ attainable rental upside. There is a 10%+ rental upside with hands on management based upon in-place rental comparables. The Eastside Cottages are comprised of seven units; (5) three bedroom, one bath (1) two bedroom, bath, and (1) three-bedroom, one and one quarter bath unit. The owner pays water only and each unit has a separate H2O heater, laundry hook-ups, a private garage and yard. The exterior has new paint, and the roofs are pitched composition shingle. Proforma at Market. See Marketing Flyer in Dedicated Property Website. There is a real attainable approximately 40% rental upside with renovations bringing the going yield inline with market market cap rates. Long-term out of area owners keep rents very, very low and the building full. The Sellers are motivated to complete the IRC 1031 Tax Deferred Exchange.

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Sold on 2016-11-23
If you would like more information about properties for sale in Costa Mesa, or are interested in touring the listing at 2550 Santa Ana Avenue, feel free to contact us. A LivingSoCal Realtor specializing in Costa Mesa will respond promptly to your inquiry.

Listing Details for 2550 Santa Ana Avenue:

Key Facts

Sale Price: $2,950,000
Property Type: Residential Income
Status:Closed
Days on Market:27
Lot Size:23,209 SqFt
Year Built:1967

Location

Area: C5 - East Costa Mesa
Builder Tract: Eastside Central (ECCM)

Features

Pool: None
Entry Location: Ground Level No Steps
Closing Date: 2016-11-23
Parking Spaces: 14
View: None
Spa: None
Garage: 7.00
Heating: Wall Heater

Legal Conditions

Special Conditions:Standard

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Listing courtesy of Berkadia Real Estate Advisors, Steven Brombal;

If you would like more information on MLS Listing NP16170298 for 2550 Santa Ana Avenue, Costa Mesa, CA 92627, please feel free to contact us. A LivingSoCal Realtor in Costa Mesa will be happy to answer any questions about this Residential Income property and assist you in scheduling a private showing.

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