Costa Mesa, CA 92626,984 Mission Drive
Costa Mesa, CA 92626,984 Mission Drive
Costa Mesa, CA 92626,984 Mission Drive
50
Listed by Mark Bridge • Mark Bridge, Broker
$3,800,000
$3,963,888
4.1%
Est.Price: ?

For more information regarding the value of a property, please contact us for a free consultation.

8,150 SqFt

984 Mission Drive Costa Mesa, CA 92626

Est. payment /mo
SOLD DATE : 12/11/2024

Want to know what your home might be worth? Contact us for a FREE valuation!

Submit

Our team is ready to help you sell your home for the highest possible price ASAP

Key Details

Sold Price $3,800,000

Property Type Single Family Home

Listing Status Sold

Purchase Type For Sale

Square Footage 8,150 sqft

Price per Sqft $466

MLS Listing ID OC-24192192

Sold Date 12/11/24

Year Built 1964

Lot Size 6,970 Sqft

Property Description

Roof tune-ups completed in 2024, with 5-year warranty. New electrical panels installed in 2024. This is an exceptional investment opportunity in the sought-after Mesa Del Mar enclave of Costa Mesa. Built in 1964, the property is situated on a 6,935-square-foot lot with well-maintained landscaping that reflects a well-kept property. These buildings offer a diverse configuration of units, including a 3-bedroom/2.5-bathroom townhouse, a 2-bedroom/1.5-bathroom townhouse, a 1-bedroom/1-bathroom unit, and a studio. Residents enjoy amenities such as a gated, lush community courtyard accessible from both the front and rear, six single-car garages, and a community laundry room. Each property is individually metered for gas and electric, and additional income is generated from the laundry facilities and garage rentals. Strategically located, this property offers easy accessibility to the best of Costa Mesa, including South Coast Plaza, The Camp, The LAB, and the Harbor Blvd shopping corridor. Tenants benefit from quick access to major freeways, including the 405, 55, and 73 Freeways. This well-maintained property represents a secure investment in a prime location, with upside potential. Extensive interior renovations across both 984 and 988 Mission Dr include complete remodels in several units with new kitchens, flooring, and bathrooms, while others have partial updates or require further improvements. While recent renovations and updates have improved the property, there remains value-add potential. Several of the current rents are below market, offering opportunities for rent adjustments. Additionally, multiple units could benefit from further upgrades. Moreover, there is potential to develop Accessory Dwelling Units (ADUs) in the courtyards, which would further enhance rental income. Property owners in the Mesa Del Mar area have already capitalized on identical lots by constructing ADUs in the courtyards and underutilized garages, further demonstrating the potential of this investment.

Location

State CA

County Orange

Interior

Heating Wall Furnace

Laundry Community

Exterior

Parking Features Garage - Single Door, Garage Faces Rear, Assigned

Garage Spaces 12.0

Pool None

Community Features Curbs, Sidewalks, Storm Drains, Street Lights

Utilities Available Sewer Connected, Water Connected, Cable Connected, Electricity Connected, Natural Gas Connected, Phone Connected

Building

Lot Description 6-10 Units/Acre

Sewer Public Sewer

Read Less


GET MORE INFORMATION

Maureen Alphonso

Agent | License ID: 01734126

+1(805) 279-6885

Name
Phone*
Message

By registering you agree to our Terms of Service & Privacy Policy. Consent is not a condition of buying a property, goods, or services.