2350 Santa Ana Avenue

Costa Mesa, CA 92627

$4,500,000

List Price

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1963

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Property Description

Introducing 2350 Santa Ana Ave, a six-unit apartment complex in Eastside Costa Mesa, CA. Built in 1963 and renovated in 2023-2024, the property blends modern comforts with classic charm on an 18,061 sq. ft. lot. It features a mix of one-, two-, and two-bedroom + den units with private outdoor spaces. Three units have been fully upgraded with new electrical and plumbing systems, energy-efficient windows, split HVAC units, premium flooring, custom cabinetry, designer bathrooms, and stainless steel appliances. The remaining three units will be similarly renovated before closing, making the property turnkey. Currently master leased through October 2025, the property generates $25,000 per month, offering a 5.50% cap rate with minimal owner obligations. Additionally, it holds future potential with an approved plan for five 1,700 sq. ft. condominium units. Whether continuing the lease, repositioning as multifamily, or redeveloping, 2350 Santa Ana Ave offers multiple paths to long-term value creation.

Listing Information

List Price $4,500,000
Status Active
MLS OC24175525
HOA $0
Type Residential Income
Subtype Apartment
Year Built 1963
Lot Size 17,860
Structure Size N/A
DOM 11
Courtesy Of Marcus & Millichap RE Invest
Listing Agent Tyler Leeson DRE#01451551
Co-Listing Agent WMichael Cavner DRE#01274709

Interior Features

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Exterior Information

Maps

Listing information courtesy of: Tyler Leeson, WMichael Cavner, Marcus & Millichap RE Invest . *Based on information from the Association of REALTORS/Multiple Listing as of Sep 3rd, 2024 at 10:32 PM and/or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.