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.
Listing Details for 2550 Santa Ana Avenue:
|Property Type:||Residential Income|
|Days on Market:||27|
|Lot Size:||23,209 SqFt|
|Area:||C5 - East Costa Mesa|
|Builder Tract:||Eastside Central (ECCM)|
|Entry Location:||Ground Level No Steps|
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.