Homes for sale - 758 W 20th ST, Costa Mesa, CA 92627

Key Details

Property Type Multi-Family

Sub Type Quadruplex

Listing Status Active

Purchase Type For Sale

Square Footage 3,384 sqft

Price per Sqft $531

Subdivision Other (Othr)

MLS Listing ID OC24207896

HOA Y/N No

Year Built 1972

Lot Size 9,212 Sqft

Acres 0.2115

Property Description

Unlock the potential of this four-unit property in a prime Westside location of Costa Mesa! This property offers tremendous upside potential for investors looking to capitalize on below-market rents and increasing equity. Each of the four 2-bedroom, 1-bathroom units comes with its own garage, offering a desirable and convenient layout for tenants. All units are currently tenant-occupied on a month-to-month basis, presenting an incredible opportunity for the new owner to make upgrades and increase rents to market levels. With rents currently well below market value, this property is ideal for an investor looking to renovate and reposition. Inquire with the City to see if an ADU can be constructed either on top of the garage or built on the existing large 9,211 sqft lot. Market rents in the area for similar units are estimated at $2,700 per unit, giving the new owner the chance to bring the monthly gross income to over $11,000, and offers the investor a fantastic opportunity with generating a 5%+ cap rate; thereby making it an excellent addition to any real estate portfolio. Whether you’re an experienced investor or looking for your first multi-unit property, this gem of a building promises long-term growth and significant returns. Situated in a highly desirable area, close to shopping, dining, freeway and just minutes from the beach, this is a can't-miss opportunity for those seeking both cash flow and future appreciation. Whether you plan to improve and hold...or renovate and resell, the upside is undeniable. This is your chance to create significant equity while tapping into the strong rental demand in this vibrant community. This is your chance to secure a property with significant equity upside and tap into Costa Mesa’s growing rental market. Don’t miss out—opportunities like this are few and far between!

Location

State CA

County Orange

Area C2 - Southwest Costa Mesa

Interior

Heating Forced Air

Cooling None

Fireplaces Type None

Laundry None

Exterior

Garage Spaces 4.0

Pool None

Community Features Sidewalks,Storm Drains,Street Lights

View None

Private Pool No

Building

Lot Description 0-1 Unit/Acre

Story 2

Sewer Public Sewer

Water Public

Level or Stories Two

New Construction No

Others

Senior Community No

Special Listing Condition Standard

Confidential INFO

TERMS 1031 Exchange,Cash,Cash To New Loan,Conventional

LIST AGRMT Exclusive Right To Sell

LIST SERVICE Full Service

PRIVATE REMARKS ===== Broker, broker's agents, staff and/or employees do not represent or guarantee accuracy of the square footage, bedroom/bathroom count, lot size or lot lines/dimensions, permitted or unpermitted spaces, school boundary lines or eligibility, or other information concerning the conditions or features of the property. =====

SHOW CONTACT TYPE Agent,See Remarks

SHOW INSTRUCTIONS ===== Showings will be scheduled with qualified offers by appointment only. Please do not disturb tenants. Setup in supplements section in the MLS highlight current and proforma figures. Any questions, please call agent directly. =====