291-293 Avocado Street, Costa Mesa, CA 92627
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Gloria Shepard

Gloria Shepard

+1(619) 889-8498
$ 9,595,000
Est. payment | /mo

3 Beds

2 Baths

0.85 Acres Lot

Save
$ 9,595,000
Est. payment | /mo
Save

3 Beds

2 Baths

0.85 Acres Lot

Key Details

Property Type Multi-Family

Sub Type Res Income 2-4 Units

Listing Status Active

Purchase Type For Sale

MLS Listing ID OC26091598

Bedrooms 3

Lot Size 0.850 Acres

Property Sub-Type Res Income 2-4 Units

Property Description

291 - 293 Avocado Street is a 24-unit multifamily property in Costa Mesa, California. The asset consists of two 12-unit buildings situated on contiguous parcels and arranged around a shared central courtyard. Built in 1965, the gated property offers approximately 18,012 rentable square feet and features a unit mix of 20 one-bed/one-bath units and 4 two-bed/one-bath units. The property provides 45 parking spaces (approximately 1.9 per unit), including a mix of surface, carport, and garage parking, along with an on-site laundry room. Ownership has completed several capital improvements, including a roof replacement, copper plumbing, and upgraded electrical subpanels. The property has also completed its SB-721 inspection with no required corrective work. 19 of the 24 units have been renovated, and rents are currently near market, supporting stable in-place income. The installation of in-unit washer/dryer hookups presents a potential enhancement, as this feature remains relatively uncommon among comparable properties yet is highly desirable to renters. The property also includes underutilized common area space that could be repositioned into amenities or, subject to city approval, may offer ADU potential. The property is located in a desirable Westside Costa Mesa setting with convenient access to nearby retail, dining, and major transportation corridors.

Location

State CA

County Orange

Zoning Assessor

Direction Cross Streets of Avocado Street & Fairview Road

Interior

Fireplace No

Exterior

View Y/N No

Building

Story 2

Level or Stories 2

Others

Senior Community No

Tax ID 41907119

Acceptable Financing Cash, Conventional, Exchange

Listing Terms Cash, Conventional, Exchange

MLS Router / San Diego MLS
Listed by Tyler Leeson, DRE#01451551 Marcus & Millichap RE Invest 

NEARBY SCHOOL & BUSINESS

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Gloria Shepard

Gloria Shepard

CA DRE #01040966

+1(619) 889-8498

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