984 El Camino DR new Save Request In-Person Tour Request Virtual Tour
Costa Mesa,CA 92626
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
MLS Listing ID CRPW25046836
Originating Board California Regional MLS
Year Built 1964
Lot Size 7,405 Sqft
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 5.0% 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
Area C4 - Central Costa Mesa
Interior
Cooling Central AC
Laundry 30,38,Washer/Dryer - Owned,Community Facility
Exterior
Parking Features Garage
Garage Spaces 4.0
Pool None
Building
Water Private
Others
Tax ID 14166525
Special Listing Condition Not Applicable