• Asking Price $5,995,000
  • Estimated Value: $1,318,164

  • 617 VICTORIA ST COSTA MESA, CA 92627

  • 4,620 SqFt
  • Multi-family (5 or more units) / Resale (MLS)
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Property Details for 617 VICTORIA ST, COSTA MESA, CA 92627

Features

  • Price/sqft: $1,297
  • Lot Size: 19199 sq. ft.
  • Total Units: 6
  • Stories: 100

Facts

  • Year Built: 01/01/1955
  • Property ID: 892063811
  • MLS Number: IV24120357
  • Parcel Number: 422-211-16
  • Property Type: Multi-family (5 or more units)
  • County: ORANGE
  • Legal Description: N TR 9 BLK LOT 39 TR 9 LOT 39 W 66 FT E 396 FT N1/2 -EX ST-

Description

This is an MLS listing, meaning the property is represented by a real estate broker, who has contracted with the home owner to sell the home.

This listing is NOT a foreclosure. **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 Le Investment Group and Gould Group. 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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All information provided is deemed reliable, but is not guaranteed and should be independently verified.

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