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$1,999,900

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6,969 Sqft Lot

New

2859 Hickory PL Costa Mesa, CA 92626

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Rick Lee

rickjleehomes@gmail.com +1(714) 943-1598

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Key Details

Property Type Multi-Family

Sub Type Quadruplex

Listing Status Active

Purchase Type For Sale

MLS Listing ID V1-38449

HOA Y/N No

Year Built 1965

Lot Size 6,969 Sqft

Property Sub-Type Quadruplex

Property Description

Excellent opportunity to acquire a well-located four-unit investment property in the heart of Costa Mesa, offering an attractive combination of strong in-place rental income and meaningful future upside. With rents currently below projected market levels, the property provides an investor with the opportunity to increase income over time while benefiting from four established rental income streams. The desirable unit mix consists of one three-bedroom residence and three two-bedroom residences, providing larger and more versatile floor plans than many typical apartment investments. This mix appeals to a broad tenant base, including professionals, couples, families and those seeking additional space for a home office. Tenants pay their own gas and electricity, helping reduce the owner's exposure to rising utility costs. The property's central Costa Mesa location is a significant advantage. Residents enjoy convenient access to South Coast Plaza, South Coast Metro, Orange Coast College and John Wayne Airport, along with the employment, shopping, dining and entertainment opportunities found throughout Costa Mesa and neighboring Irvine. Newport Beach and Huntington Beach are also just minutes away, providing easy access to some of Orange County's most desirable coastal communities. Excellent freeway accessibility via the 405, 55 and 73 makes the property convenient for tenants working throughout Orange County. Costa Mesa's combination of employment, entertainment, shopping, education and proximity to the coast continues to make it a highly desirable rental market. For an investor seeking a smaller multifamily property with existing cash flow, multiple income streams and the potential for future rental growth, this property offers a compelling opportunity in one of Orange County's most desirable and centrally located communities.

Location

State CA

County Orange

Area C1 - Mesa Verde

Interior

Heating Wall Furnace

Cooling None

Flooring Carpet, Laminate, Vinyl

Fireplaces Type None

Fireplace No

Appliance Electric Cooktop, Electric Oven

Laundry None

Exterior

Parking Features Door-Single, Garage, On Street

Garage Spaces 4.0

Garage Description 4.0

Fence None

Pool None

Community Features Curbs, Street Lights, Sidewalks

Utilities Available Electricity Connected, Natural Gas Available

View Y/N No

View None

Private Pool No

Building

Lot Description Sprinklers None

Story 2

Entry Level One,Two

Sewer Public Sewer

Water Private

Level or Stories One, Two

Others

Senior Community No

Tax ID 13929618

Energy Description 1.0

Acceptable Financing Cash, Conventional

Listing Terms Cash, Conventional

Special Listing Condition Standard, Trust

CRMLS Full IDX Feed (MAIN Website Search)

Listed by Keith Geller Realty Network #00919059

NEARBY SCHOOL & BUSINESS

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