2350 Santa Ana Avenue
Costa Mesa, CA 92627
- – beds
- – baths
- – sqft
- ~1/2 acre lot
- 1963 build
- – on site
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.
Listed By CRMLS_CA / Tyler Leeson / Marcus & Millichap RE Invest / tleeson@marcusmillichap.com
Last checked:
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Last updated Sep 27, 2024
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MLS# OC24175525 —
The Building
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Year Built:1963
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Year Built Source:Assessor
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New Construction:No
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Entry Level:1
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Common Walls:No Common Walls
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Building Area Total:4427.00
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Building Area Units:Square Feet
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# of Buildings:4
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Total Number Of Units:6
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Stories Total:1
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# of Separate Gas Meters:6
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# of Separate Water Meters:1
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# of Separate Electric Meters:6
Interior
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Levels:One
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Entry Location:First level
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Laundry:Dryer Included, Washer Included
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Laundry:1
Location
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Directions:Cross Streets of Santa Ana Avenue & Wilson Street
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Latitude:33.65097400
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Longitude:-117.89681900
The Property
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Property Type:Residential Income
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Subtype:Apartment
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Lot Features:Level with Street
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Lot Size Area:0.4100
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Lot Size Acres:0.4100
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Lot Size SqFt:17859.60
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Lot Size Source:Assessor
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Additional Parcels:No
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Land Lease:No
Listing Agent
- Contact info:
- No listing contact info available
Taxes
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Tax Census Tract:631.03
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Tax Tract:300
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Tax Lot:106
The Listing
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Special Listing Conditions:Standard
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Parcel Number:43923115
Utilities
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Sewer:Public Sewer
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Water Source:Public
The Community
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Subdivision:Other (OTHR)
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Subdivision:Santa Ana Heights
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Senior Community:No
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Features:Curbs, Gutters, Sidewalks
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Pool:None
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Private Pool:No
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Association:No
Parking
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Parking Spaces:9.00
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Garage Spaces:4.00
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Uncovered Spaces:5.00
Walk Score®
Provided by WalkScore® Inc.
Walk Score is the most well-known measure of walkability for any address. It is based on the distance to a variety of nearby services and pedestrian friendliness. Walk Scores range from 0 (Car-Dependent) to 100 (Walker’s Paradise).
Bike Score®
Provided by WalkScore® Inc.
Bike Score evaluates a location's bikeability. It is calculated by measuring bike infrastructure, hills, destinations and road connectivity, and the number of bike commuters. Bike Scores range from 0 (Somewhat Bikeable) to 100 (Biker’s Paradise).
Transit Score®
Provided by WalkScore® Inc.
Transit Score measures a location's access to public transit. It is based on nearby transit routes frequency, type of route (bus, rail, etc.), and distance to the nearest stop on the route. Transit Scores range from 0 (Minimal Transit) to 100 (Rider’s Paradise).
Soundscore™
Provided by HowLoud
Soundscore is an overall score that accounts for traffic, airport activity, and local sources. A Soundscore rating is a number between 50 (very loud) and 100 (very quiet).
Sale history
Date | Event | Source | Price | % Change |
---|---|---|---|---|
8/23/24
Aug 23, 2024
|
Listed / Active | CRMLS_CA | $4,500,000 |