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984 988 Mission Drive

Costa Mesa, CA 92626

– beds
– baths
– sqft
6,970 sqft lot
1964 build
– on site

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Roof tune-ups completed in 2024, with 5-year warranty. New electrical panels installed in 2024. This is an exceptional investment opportunity in the sought-after Mesa Del Mar enclave of Costa Mesa. Built in 1964, the property is situated on a 6,935-square-foot lot with well-maintained landscaping that reflects a well-kept property. These buildings offer a diverse configuration of units, including a 3-bedroom/2.5-bathroom townhouse, a 2-bedroom/1.5-bathroom townhouse, a 1-bedroom/1-bathroom unit, and a studio. Residents enjoy amenities such as a gated, lush community courtyard accessible from both the front and rear, six single-car garages, and a community laundry room. Each property is individually metered for gas and electric, and additional income is generated from the laundry facilities and garage rentals. Strategically located, this property offers easy accessibility to the best of Costa Mesa, including South Coast Plaza, The Camp, The LAB, and the Harbor Blvd shopping corridor. Tenants benefit from quick access to major freeways, including the 405, 55, and 73 Freeways. This well-maintained property represents a secure investment in a prime location, with upside potential. Extensive interior renovations across both 984 and 988 Mission Dr include complete remodels in several units with new kitchens, flooring, and bathrooms, while others have partial updates or require further improvements. While recent renovations and updates have improved the property, there remains value-add potential. Several of the current rents are below market, offering opportunities for rent adjustments. Additionally, multiple units could benefit from further upgrades. Moreover, there is potential to develop Accessory Dwelling Units (ADUs) in the courtyards, which would further enhance rental income. Property owners in the Mesa Del Mar area have already capitalized on identical lots by constructing ADUs in the courtyards and underutilized garages, further demonstrating the potential of this investment.

Listed By CRMLS_CA / Mark Bridge / Mark Bridge, Broker / Mark.Bridge@cushwake.com

Last checked: Checking… • Last updated Dec 15, 2024 •

MLS# OC24192192 —

The Building

Year Built:

1964
Year Built Source:

Assessor
New Construction:

No
Building Area Total:

8150.00
Building Area Units:

Square Feet
Total Number Of Units:

8
# of Buildings:

2
Roof:

Composition, Shingle
Stories Total:

2
Entry Level:

1
Common Walls:

1 Common Wall
# of Separate Gas Meters:

8
# of Separate Water Meters:

2
# of Separate Electric Meters:

10

Interior

Levels:

Two
Entry Location:

First
Laundry:

Community
Laundry:

1

Location

Directions:

Head South on Fairview Rd, take a left onto Baker St, Right onto Mendoza Dr, then Left onto Mission Dr. Property will be on your left.
Latitude:

33.67752000
Longitude:

-117.89836100

The Property

Property Type:

Residential Income
Subtype:

Apartment
Lot Features:

6-10 Units/Acre
Lot Size Area:

6970.0000
Lot Size Acres:

0.1600
Lot Size SqFt:

6970.00
Lot Size Source:

Assessor
Fencing:

Wood
Fence:

Yes
Property Attached:

1
Additional Parcels:

Yes
Additional Parcels Description:

14166214
Land Lease:

No

Listing Agent

Contact info:

Taxes

Tax Tract:

662
Tax Lot:

141

The Listing

Special Listing Conditions:

Standard
Parcel Number:

14166213

Heating & Cooling

Heating:

1
Heating:

Wall Furnace

Utilities

Utilities:

Cable Connected, Electricity Connected, Natural Gas Connected, Phone Connected, Sewer Connected, Water Connected
Sewer:

Public Sewer
Water Source:

Public

Appliances

Appliances:

Electric Range, Disposal, Gas Oven, Gas Range, Range Hood, Water Heater
Included:

Yes

The Community

Subdivision:

Other (OTHR)
Subdivision:

Mesa Del Mar
Features:

Curbs, Sidewalks, Storm Drains, Street Lights
Pool:

None
Senior Community:

No
Private Pool:

No
Assessments:

Yes
Assessments:

Special Assessments

Parking

Parking:

Yes
Parking:

Assigned, Garage Faces Rear, Garage - Single Door
Parking Spaces:

12.00
Garage Spaces:

12.00

Extra Units

Average 1 Bed Area:

850
Average 2 Bed Area:

1150
Average 3 Bed Area:

1600
Average Studio Area:

475
Number With Disposal:

8

Explore the Area

My Commute

From

Walk Score®

Provided by WalkScore® Inc.

Bike Score®

Provided by WalkScore® Inc.

Transit Score®

Provided by WalkScore® Inc.

Soundscore™

Provided by HowLoud

Sale history

Date	Event	Source	Price	% Change
12/11/24 Dec 11, 2024	Sold	CRMLS_CA	$3,800,000	-4.1%
11/13/24 Nov 13, 2024	Pending	CRMLS_CA	$3,963,888
10/29/24 Oct 29, 2024	Price Changed	CRMLS_CA	$3,963,888	-0.8%

Multifamily Sold on 12/11/2024

$3,800,000

Listing provided by broker:

Mark Bridge

Mark Bridge, Broker

Mark.Bridge@cushwake.com

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Listing Courtesy of: CRMLS_CA and Mark Bridge, Broker. Based on information from California Regional Multiple Listing Service, Inc. as of 23:11 on Dec 22.

This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.

984 988 Mission Drive

Costa Mesa, CA 92626