681 Victoria Street,  Costa Mesa CA, 92627 (Residential Income)

5,880 sqft
Status: Pending
MLS#: OC16176396
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Last Updated: 12/10/2016 2:23 AM
Description for 681 Victoria Street Costa Mesa, CA 92627
641 Victoria Street is a great 7 unit investment opportunity with all units currently rented month-to-month and appear to be below market. Four units are townhouse with 2BR / 1.5 baths with private patios, two units (a 2 BR and a 3 BR) are ground floor units, and one unit is an upstairs 2BR unit. All units have separate gas & electric meters with tenants paying most of those expenses. Units have private rear areas. Costa Mesa zoning map shows the property is zoned R2-MD and the city shows the property lies in the Mesa West Residential Ownership Urban plan which allows an owner to rebuild the existing number of units even if the minimum lot size cannot be met under the current Residential Development Standards. There are two generous parking areas plus two single car garages. The south and west property lines have seen brand new developments built on the contiguous properties. Income shown in the Analysis Section is based on current actual. Actual annual income is $121,452 resulting in net operating income of $99,642.
Price
$2,100,000
Orange
5,880 (approx)
OC16176396
Pending
Description
641 Victoria Street is a great 7 unit investment opportunity with all units currently rented month-to-month and appear to be below market. Four units are townhouse with 2BR / 1.5 baths with private patios, two units (a 2 BR and a 3 BR) are ground floor units, and one unit is an upstairs 2BR unit. All units have separate gas & electric meters with tenants paying most of those expenses. Units have private rear areas. Costa Mesa zoning map shows the property is zoned R2-MD and the city shows the property lies in the Mesa West Residential Ownership Urban plan which allows an owner to rebuild the existing number of units even if the minimum lot size cannot be met under the current Residential Development Standards. There are two generous parking areas plus two single car garages. The south and west property lines have seen brand new developments built on the contiguous properties. Income shown in the Analysis Section is based on current actual. Actual annual income is $121,452 resulting in net operating income of $99,642.
Listing Information
Property Type: Cluster, 2 Story
0.41 Acres 1,812,000 sq.ft. 5,880 (approx)
$357.14 1964
2
Neighborhood
Room Information
Exterior / Lot Features
None
No Pool
R2
Sidewalks
Driving Directions
Cross Streets: Pomona Ave
Financial Considerations
42221106
$121,455 Income ,$21,813Expense
Listing Price History

Costa Mesa Real Estate

Costa Mesa is located in California. Costa Mesa, California 92627 has a population of 110,322.

The median household income in Costa Mesa, California 92627 is $65,373. The median household income for the surrounding county is $75,566 compared to the national median of $53,046. The median age of people living in Costa Mesa 92627 is 33.7 years.

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Information is deemed reliable but is not guaranteed.

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