617 Victoria Street
Costa Mesa, CA 92627
- – beds
- – baths
- – sqft
- ~1/2 acre lot
- 1955 build
- – on site
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**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.
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Last updated Jan 17, 2025
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MLS# IV24120357 —
The Building
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Year Built:1955
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Year Built Source:Public Records
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New Construction:No
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Building Area Total:9240.00
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Building Area Units:Square Feet
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Total Number Of Units:12
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# of Buildings:6
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Stories Total:1
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Entry Level:1
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Common Walls:1 Common Wall
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# of Separate Gas Meters:12
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# of Separate Water Meters:1
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# of Separate Electric Meters:12
Interior
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Levels:One
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Entry Location:1
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Laundry:None
Location
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Directions:Head west on Victoria Street, passing Harbor Boulevard. The location is on the south side of Victoria Street, west of Highway 55.
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Latitude:33.65199500
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Longitude:-117.92460400
The Property
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Property Type:Residential Income
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Subtype:Apartment
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Lot Features:11-15 Units/Acre
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Lot Size Area:20038.0000
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Lot Size Acres:0.4600
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Lot Size SqFt:20038.00
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Lot Size Source:Assessor
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Property Attached:1
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Additional Parcels:No
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Additional Parcels Description:42221118
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Land Lease:No
Listing Agent
- Contact info:
- No listing contact info available
Taxes
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Tax Census Tract:637.01
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Tax Tract:9
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Tax Lot:39
The Listing
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Special Listing Conditions:Standard
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Parcel Number:42221116
Utilities
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Sewer:Public Sewer
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Water Source:Public
The Community
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Features:Suburban
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Pool:None
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Senior Community:No
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Private Pool:No
Parking
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Parking Spaces:12.00
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Garage Spaces:12.00
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 |
|---|---|---|---|---|
|
1/7/25
Jan 7, 2025
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Sold | CRMLS_CA | $5,000,000 | -16.6% |
|
10/28/24
Oct 28, 2024
|
Pending | CRMLS_CA | $5,995,000 | |
|
10/21/24
Oct 21, 2024
|
Listed / Active | CRMLS_CA | $5,995,000 |
