777 W 18th Street
Costa Mesa, CA 92627
- – beds
- – baths
- – sqft
- 9,218 sqft lot
- 1961 build
- – on site
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!
Listed By CRMLS_CA / Stephanie Peterson / Arbor Real Estate / 949-400-1717
Last checked:
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Last updated Nov 11, 2024
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MLS# NP24223351 —
This property is listed in more than one place. See it here.
The Building
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Year Built:1961
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Year Built Source:Public Records
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New Construction:No
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Architectural Style:Ranch
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Roof:Composition
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Entry Level:1
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Foundation:Slab
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Accessibility Features:No Interior Steps
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Common Walls:No Common Walls
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Building Area Total:2227.00
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Building Area Units:Square Feet
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# of Buildings:2
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Total Number Of Units:2
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Stories Total:1
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# of Separate Gas Meters:2
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# of Separate Water Meters:1
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# of Separate Electric Meters:2
Interior
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Features:Beamed Ceilings, Cathedral Ceiling(s), Ceramic Counters, Open Floorplan, Tile Counters, Unfurnished
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Levels:One
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Entry Location:1
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Window Features:Screens, Skylight(s)
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Flooring:Laminate, Tile, Wood
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Room Type:All Bedrooms Down, Family Room, Kitchen, Laundry, Main Floor Bedroom, Separate Family Room, Walk-In Closet
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Fireplace:Yes
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Fireplace:Living Room, Wood Burning, Masonry
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Laundry:Gas Dryer Hookup, Individual Room, Outside
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Laundry:1
Location
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Directions:Take 18th street west, units are on left hand side.
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Latitude:33.63964000
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Longitude:-117.93093500
The Property
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Property Type:Residential Income
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Subtype:Duplex
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Property Condition:Turnkey, Updated/Remodeled
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Zoning:R2
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Lot Features:2-5 Units/Acre, Back Yard, Front Yard, Landscaped, Lawn, Lot 6500-9999, Rectangular Lot, Level, Near Public Transit, Paved, Treed Lot, Utilities - Overhead, Yard
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Lot Size Area:9218.0000
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Lot Size Dimensions:71 x 130
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Lot Size Acres:0.2116
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Lot Size SqFt:9218.00
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Lot Size Source:Public Records
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Lot Dimensions Source:Public Records
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View:None
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Fencing:Block, Excellent Condition, Vinyl
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Fence:Yes
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Road Frontage:City Street
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Road Surface Type:Paved
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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 Tract:517
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Tax Lot:13
The Listing
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Special Listing Conditions:Standard
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Parcel Number:42405513
Heating & Cooling
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Heating:1
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Heating:Forced Air, Wall Furnace
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Cooling:No
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Cooling:None
Utilities
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Utilities:Cable Connected, Electricity Connected, Natural Gas Connected, Phone Available, Phone Connected, Sewer Connected, Water Connected
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Sewer:Public Sewer
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Water Source:Public
Appliances
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Appliances:Built-In Range, Disposal, Gas Oven, Gas Range, Gas Cooktop, Water Heater
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Included:Yes
The Community
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Subdivision:Westside Costa Mesa South (WSCM)
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Subdivision:Westside Costa Mesa South (WSCM)
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Senior Community:No
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Features:Sidewalks
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Pool:None
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Private Pool:No
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Spa Features:None
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Association:No
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Assessments:No
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Assessments:None
Parking
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Parking:Yes
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Parking:Assigned
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Parking Spaces:8.00
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Garage Spaces:2.00
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Uncovered Spaces:6.00
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).
Max Internet Speed
Provided by BroadbandNow®
This is the maximum advertised internet speed available for this home. Under 10 Mbps is in the slower range, and anything above 30 Mbps is considered fast. For heavier internet users, some plans allow for more than 100 Mbps.
Sale history
Date | Event | Source | Price | % Change |
---|---|---|---|---|
11/1/24
Nov 1, 2024
|
Listed / Active | CRMLS_CA | $1,800,000 | 140.0% (13.2% / YR) |
9/20/21
Sep 20, 2021
|
Listed / Active | CRMLS_CA | ||
3/19/14
Mar 19, 2014
|
CRMLS_CA | $750,000 |