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Listed by Rick Applebaum • Morgan Skenderian
$3,395,000
Est. payment /mo
5,241 SqFt
Active
984 El Camino Drive Costa Mesa, CA 92626
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Key Details
Property Type Single Family Home
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
Square Footage 5,241 sqft
Price per Sqft $647
Subdivision Mesa Del Mar
MLS Listing ID PW-25046836
Year Built 1964
Lot Size 7,405 Sqft
Property Sub-Type Apartment
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
Area C4 - Central Costa Mesa
Interior
Cooling Central Air
Fireplaces Type None
Laundry Community, Gas & Electric Dryer Hookup, Washer Hookup
Exterior
Parking Features Garage
Garage Spaces 4.0
Pool None
Community Features Biking, Curbs, Dog Park, Sidewalks
Building
Lot Description Lot 6500-9999
Sewer Public Sewer