CA > Costa Mesa > Westside Costa Mesa South (Wscm)
Costa Mesa, CA 92627,777 W 18th ST
Costa Mesa, CA 92627,777 W 18th ST
Costa Mesa, CA 92627,777 W 18th ST
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Diego Magdaleno

Diego Magdaleno

+1(714) 681-1222
$1,800,000
Est. payment /mo
9,217 Sqft Lot
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UPDATED:

11/11/2024 07:45 PM

Key Details

Property Type Multi-Family

Sub Type Duplex

Listing Status Active

Purchase Type For Sale

Subdivision Westside Costa Mesa South (Wscm)

MLS Listing ID NP24223351

Construction Status Updated/Remodeled,Turnkey

HOA Y/N No

Year Built 1961

Lot Size 9,217 Sqft

Lot Dimensions Public Records

Property Description

Exceptional Investment Opportunity – Two detached homes on a large 9,218-square-foot parcel! Located in the rapidly appreciating West Side Costa Mesa area, this property is ideal for investors, developers, or homeowners seeking rental income. The prime property presents a promising opportunity for investors to increase income by adjusting the existing below-market lease rates to market value.
The recently renovated front home has 3 bedrooms and 1 full bathroom, featuring a spacious, gated front yard. The open floor plan offers vaulted ceilings, wood flooring, and a brick fireplace, with abundant natural light streaming through skylights and windows. An independent, gated rear yard attached to this house provides the perfect space for private relaxation or entertaining. The front home is currently leased for $3,600 per month and will be vacant and available for lease in mid-November, with high interest already expressed by potential tenants. It is actively listed for lease at $3,900 per month.
The rear detached home, with its own private, gated backyard, includes 4 bedrooms and 2 bathrooms. The open living room and kitchen create a seamless flow, leading to an expansive outdoor area shaded by mature trees for added privacy and tranquility. The current long-term tenant in the rear is on a month-to-month lease at $3,600 per month, while similar neighboring rentals are achieving up to $4,200 per month, highlighting potential for increased rental income. Each home has a separate laundry area, a one-car garage, and ample off-street parking.
Conveniently situated near the vibrant 17th Street scene and the iconic beaches of Newport Beach, this duplex offers an outstanding opportunity for income generation and capital growth in a highly sought-after location. Zoned for multifamily development, this property presents prime development potential. Don’t miss out on this incredible opportunity!

Location

State CA

County Orange

Area C2 - Southwest Costa Mesa

Zoning R2

Interior

Interior Features Beamed Ceilings, Ceramic Counters, Cathedral Ceiling(s), Open Floorplan, Tile Counters, Unfurnished, All Bedrooms Down, Bedroom on Main Level, Walk-In Closet(s)

Heating Forced Air, Wall Furnace

Cooling None

Flooring Laminate, Tile, Wood

Fireplaces Type Living Room, Masonry, Wood Burning

Fireplace Yes

Appliance Built-In Range, Gas Cooktop, Disposal, Gas Oven, Gas Range, Water Heater

Laundry Gas Dryer Hookup, Laundry Room, Outside

Exterior

Garage Assigned

Garage Spaces 2.0

Garage Description 2.0

Fence Block, Excellent Condition, Vinyl

Pool None

Community Features Sidewalks

Utilities Available Cable Connected, Electricity Connected, Natural Gas Connected, Phone Available, Phone Connected, Sewer Connected, Water Connected, Overhead Utilities

View Y/N No

View None

Roof Type Composition

Accessibility No Stairs

Total Parking Spaces 8

Private Pool No

Building

Lot Description 2-5 Units/Acre, Back Yard, Front Yard, Lawn, Landscaped, Level, Near Public Transit, Paved, Rectangular Lot, Trees, Yard

Story 1

Entry Level One

Foundation Slab

Sewer Public Sewer

Water Public

Architectural Style Ranch

Level or Stories One

New Construction No

Construction Status Updated/Remodeled,Turnkey

Others

Senior Community No

Tax ID 42405513

Acceptable Financing Cash, Cash to New Loan, 1031 Exchange

Listing Terms Cash, Cash to New Loan, 1031 Exchange

Special Listing Condition Standard

Read Less Info
California Regional MLS (CRMLS)
Listed by Stephanie Peterson • Arbor Real Estate • 949-400-1717
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