1022 W Wilson Street, Costa Mesa, CA 92627
- $1,775,000
- 3
- BD
- 4
- BA
- 1,630
- SqFt
- Sold Price
- $1,775,000
- List Price
- $1,889,000
- Closing Date
- Mar 04, 2025
- Status
- CLOSED
- MLS#
- NP24202018
- Year Built
- 1949
- Bedrooms
- 3
- Bathrooms
- 4
- Living Sq. Ft
- 1,630
- Lot Size
- 10,817
- Acres
- 0.25
- Lot Location
- Back Yard, Drip Irrigation/Bubblers, Front Yard, Landscaped, Near Park, Sprinklers Timer
- Days on Market
- 118
- Property Type
- Single Family Residential
- Style
- Custom, Ranch, Traditional
- Property Sub Type
- Single Family Residence
- Stories
- One Level
- Neighborhood
- New
Property Description
INVESTORS & BUILDERS, SHOVEL READY PROJECT with demo and grading permits ready to be pulled. Close on this single family home and excellent development opportunity with City entitlements, final County map, and full sets of permit ready plans. City of Costa Mesa approved lot split using their Small Lot Ordinance (SLO) guidelines. 2 nearly identical lots can be created from this prime oversized lot of 10,817 SF. Each new lot would be approx. 53' wide by 102' deep, totaling approx. 5,406 SF. On each lot you can build one 2-story, 4 bed & 3.5 bath front house of 2,266 SF, plus a single level detached ADU in the back with 2 beds & 2 baths in 884 SF. Architecture is coastal modern farmhouse by Bryant Palmer & Soto. The plans include high volume and vaulted ceilings, great rooms and lofts, upstairs laundry rooms, indoor/outdoor feel, oversized garages, private yards, separate gated entries, welcoming front porches and patios. ADUs will have separate and private entries and all yards will be privately fenced. All units separately metered with electric and gas. Outdoor spaces by BGB Design Group will be soothing places to rest, rejuvenate and entertain with California friendly landscaping and practical yet aesthetically pleasing hardscape surfaces. Just around the corner are Fairview Park and Talbert Nature Preserve, and Santa Ana River trails with beach access. Just a few blocks from excellent Waldorf School. These homes and ADUs will be terrific residences for their occupants. Conservative rental pro forma is $6,500-$7,000/mo for the front houses and $3,500-$3,750/mo for the ADUs. The development project offers many options for the lucky buyer: 1.) Develop and sell for profit; 2.) Develop and rent all units out, then hold for the long-term appreciation and tax write offs; 3.) Build for yourself and move into one and rent the others; 4.) Build both lots, then sell one off to pay for the one you keep; and/or 5.) Purchase for your 1031 exchange to defer capital gains taxes. What is your plan? Reach out to Bixby Residential to meet our development team and be introduced to potential contractors who can complete the build for you. *NOTE: Listing has supplements--SEE BROCHURE WITH RENTAL AND SALES COMPS.
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Additional Information
- Appliances
- Dishwasher, Gas Oven, Gas Range, Gas Water Heater, Microwave, Refrigerator, Range Hood
- Pool Description
- None
- Heat
- Forced Air
- Cooling
- Yes
- Cooling Description
- Central Air
- View
- None
- Exterior Construction
- Board & Batten Siding, Stucco
- Patio
- Rear Porch, Concrete, Front Porch
- Roof
- Composition, Metal
- Garage Spaces Total
- 4
- Sewer
- Public Sewer
- Water
- Public
- School District
- Newport Mesa Unified
- Interior Features
- Separate/Formal Dining Room, High Ceilings, Open Floorplan, Wired for Data, Wired for Sound, Bedroom on Main Level, Entrance Foyer, Loft, Primary Suite, Walk-In Closet(s)
- Attached Structure
- Detached
- Number Of Units Total
- 1
Listing courtesy of Listing Agent: Grant Bixby (grant@bixbyresidential.com) from Listing Office: Compass.
Listing sold by Joshua Jacobs from Jim Jacobs Realty
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Based on information from California Regional Multiple Listing Service, Inc. as of . This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.