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$3,395,000
Est. payment /mo
5,241 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 5,241 sqft
Price per Sqft $647
MLS Listing ID CRPW25046836
HOA Y/N No
Year Built 1964
Lot Size 7,405 Sqft
Acres 0.17
Property Sub-Type Other
Property Description
984 El Camino Drive is a premier investment opportunity in the sought-after Mesa Del Mar neighborhood of Costa Mesa, CA. This pristine, turnkey property received an infusion of approximately $1.3 million in 2023, encompassing a full exterior renovation and complete interior remodel. Each unit was upgraded with modern, high-end finishes, offering residents top-quality living spaces. Many units feature brand-new in-unit laundry machines, and all are equipped with new air conditioning, heating systems, microwaves, ceiling fans, stainless steel appliances, sinks, and more. The property also offers excellent parking options, with four garages, spaces for four vehicles in front of the garages, and five additional open spots, providing an impressive 2:1 parking ratio. With a 5.1% cap rate based on current rents, this asset presents a compelling opportunity for investors looking for a turnkey property with solid, immediate cash flow potential.
Location
State CA
County Orange
Interior
Cooling Central Air
Fireplace No
Laundry Community Facility, Gas Dryer Hookup, Other
Building
Sewer Public Sewer
Water Private
New Construction No
Others
Tax ID 14166525
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Listed by Rick Applebaum • Morgan Skenderian