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Listed by Cameron Jacques • Kinnery's Brokerage House
$3,700,000
Est. payment /mo
0.54 Acres Lot
UPDATED:
Key Details
Property Type Commercial
Listing Status Contingent
Purchase Type For Sale
MLS Listing ID CRPW25077806
Year Built 1955
Lot Size 0.540 Acres
Source California Regional MLS
Property Description
Spectacular value add investment opportunity! This incredible 7 unit asset is situated on a large open lot in the heart of everything that's wonderful about Southern California! Costa Mesa is the neighboring city to Newport Beach, which houses some of Southern California's most expensive real estate, high-end car dealerships, magnificent restaurants and boutiques. 2585 & 2589 Orange Ave is situated within a 5 minutes to 15 minute drive to South Coast Plaza, the largest and arguably the best high-end shopping on the West Coast, Newport Peninsula, Fashion Island, Corona Del Mar and Huntington Beach. The asset itself is comprised of One, 3 bedroom x 1 bathroom single family residence - Two, 2 bedroom x 1 bathroom cottages, Two 1 bedroom x 1 bathroom cottages and Two, 1 bedroom x 1 bathroom upper-level units. Each unit has its own garage (7 in total) with 5 carports and 8 additional onsite parking spaces. All seven units have interior laundry. The asset is well managed and beautifully maintained. Current GSI is running approximately 40% below market in current condition. The Single Family Residence and all four cottages have their own large side yards, which create's its own personal space inside a community environment. ADU potential and room to add significant value, this asset wil
Location
State CA
County Orange
Area C5 - East Costa Mesa
Interior
Heating Wall Furnace
Cooling None
Laundry In Closet, In Garage, In Kitchen
Exterior
Parking Features Assigned Spaces
Garage Spaces 20.0
Pool 31, None
View Local/Neighborhood
Roof Type Composition
Building
Story One Story
Water District - Public
Others
Tax ID 43916130
Special Listing Condition Not Applicable , Accepting Backups
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