REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.
In-PersonVirtual Tour
Listed by ALBERT LE • LE INVESTMENT GROUP
$ 5,995,000
Est. payment /mo
Pending
617 Victoria Street Costa Mesa, CA 92627
9,240 SqFt
UPDATED:
12/06/2024 09:30 PM
Key Details
Property Type Single Family Home
Listing Status Pending
Purchase Type For Sale
Square Footage 9,240 sqft
Price per Sqft $648
MLS Listing ID IV-24120357
Year Built 1955
Lot Size 0.460 Acres
Property Description
**MILLION DOLLAR PRICE REDUCTION, SELLER WILL MOVE THIS ASSET. ALL OFFERS ARE ENCOURAGED** Introducing an exceptional investment opportunity at 615-617 Victoria Street, brought to you by. Spanning three parcels, totaling 1.32 acres, the property presents an array of prospects. Currently there are 12 single-story residences, each with 2 bedrooms and 1 bathroom, a single-car garage, washer/dryer hookups, and private patio. Nestled within the property is a sprawling tree lined, grassy courtyard. With strategic renovations, savvy investors stand to unlock substantial rental upside, potentially exceeding 40% on the existing units alone. Furthermore, ADU regulations established by the city of Costa Mesa present the opportunity to add more units, amplifying rental income and elevating the property's overall value. For developers seeking a larger project in the Costa Mesa market, this property is an unparalleled find. Positioned in the Mesa West Residential Urban Plan, these parcels offer a rare chance for redevelopment, allowing for the creation of new apartments or saleable units with increased density compared to other opportunities in the area. Plus, it is located in an Opportunity Zone. Don't miss out on this investment opportunity, combining current rental income potential with significant future growth prospects.
Location
State CA
County Orange
Interior
Laundry None
Exterior
Parking Features Gated
Garage Spaces 12.0
Pool None
Community Features Suburban
Building
Lot Description 11-15 Units/Acre
Sewer Public Sewer
Nicole Van Parys & Gary Nesen
License Partners, Private Office Advisors | License ID: 01108944