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Townhome/Townhouse For Sale
777 W 18th Street
Costa Mesa, California 92627
Orange CountyCommunity: Westside Costa Mesa South (WSCM)
$1,800,000
7 br, 3.0 bath
2227 sq. ft.
0.212 acres
Exceptional Investment Opportunity - Two detached homes on a large 9,218-square-foot parcel! Located in the rapidly appreciating West Side Costa Mesa area, this property is ideal for investors, developers, or homeowners seeking rental income. The prime property presents a promising opportunity for investors to increase income by adjusting the existing below-market lease rates to market value.
The recently renovated front home has 3 bedrooms and 1 full bathroom, featuring a spacious, gated front yard. The open floor plan offers vaulted ceilings, wood flooring, and a brick fireplace, with abundant natural light streaming through skylights and windows. An independent, gated rear yard attached to this house provides the perfect space for private relaxation or entertaining. The front home is currently leased for $3,600 per month and will be vacant and available for lease in mid-November, with high interest already expressed by potential tenants. It is actively listed for lease at $3,900 per month.
The rear detached home, with its own private, gated backyard, includes 4 bedrooms and 2 bathrooms. The open living room and kitchen create a seamless flow, leading to an expansive outdoor area shaded by mature trees for added privacy and tranquility. The current long-term tenant in the rear is on a month-to-month lease at $3,600 per month, while similar neighboring rentals are achieving up to $4,200 per month, highlighting potential for increased rental income. Each home has a separate laundry area, a one-car garage, and ample off-street parking.
Conveniently situated near the vibrant 17th Street scene and the iconic beaches of Newport Beach, this duplex offers an outstanding opportunity for income generation and capital growth in a highly sought-after location. Zoned for multifamily development, this property presents prime development potential. Don't miss out on this incredible opportunity!
Interior:
- Bedrooms: 7
- Baths: 3.0
- Sq Ft: 2227
- Year Built: 1961
- Utilities:
- Fireplaces:
- Stories: 1
- Heat/AC: Forced Air
- Garage: Assigned
Exterior:
- Lot Size: 0.212 acre
- Lot Dimensions:
- View Types: None
- Yard:
- Siding:
- Roof: Composition
- MLS #: NP24223351
Contact Information:
Listing Agent: Stephanie Peterson, Arbor Real Estate Professionals, 949-400-1717, 949-673-7600
Listing Site, Listing Status: Active
Copyright © 2024 California Regional Multiple Listing Service, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Copyright © 2024 California Regional Multiple Listing Service, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Ad Number: 5519970
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Updated: Nov 02, 2024