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Listed by Cameron Jacques • Kinnery's Brokerage House
$ 3,700,000
Est. payment | /mo
5,181 SqFt
$ 3,700,000
Est. payment | /mo
5,181 SqFt
Key Details
Property Type Commercial
Sub Type Other
Listing Status Pending
Purchase Type For Sale
Square Footage 5,181 sqft
Price per Sqft $714
MLS Listing ID CRPW25077806
HOA Y/N No
Originating Board Datashare California Regional
Year Built 1955
Lot Size 0.540 Acres
Property Sub-Type Other
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
Location
State CA
County Orange
Interior
Heating Wall Furnace
Cooling None
Fireplace No
Laundry Laundry Closet, In Garage, In Kitchen
Exterior
View Other
Building
Lot Description Other
Water Public
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Glen Riggs
REALTOR® | Lic# CA DRE 02161397