2585 Orange Avenue, Costa Mesa, CA 92627
- $3,330,000
- Sold Price
- $3,330,000
- List Price
- $3,700,000
- Closing Date
- Jun 13, 2025
- Status
- CLOSED
- MLS#
- PW25077806
- Year Built
- 1955
- Lot Size
- 23,522
- Acres
- 0.54
- Lot Location
- Sprinkler System
- Days on Market
- 23
- Property Type
- Multifamily
- Property Sub Type
- Apartment
- Stories
- One Level
- Neighborhood
- Eastside Central (Eccm)
Property Description
Spectacular value add investment opportunity! This incredible 7 unit asset is situated on a large open lot in the heart of everything that's wonderful about Southern California! Costa Mesa is the neighboring city to Newport Beach, which houses some of Southern California’s most expensive real estate, high-end car dealerships, magnificent restaurants and boutiques. 2585 & 2589 Orange Ave is situated within a 5 minutes to 15 minute drive to South Coast Plaza, the largest and arguably the best high-end shopping on the West Coast, Newport Peninsula, Fashion Island, Corona Del Mar and Huntington Beach. The asset itself is comprised of One, 3 bedroom x 1 bathroom single family residence – Two, 2 bedroom x 1 bathroom cottages, Two 1 bedroom x 1 bathroom cottages and Two, 1 bedroom x 1 bathroom upper-level units. Each unit has its own garage (7 in total) with 5 carports and 8 additional onsite parking spaces. All seven units have interior laundry. The asset is well managed and beautifully maintained. Current GSI is running approximately 40% below market in current condition. The Single Family Residence and all four cottages have their own large side yards, which create's its own personal space inside a community environment. ADU potential and room to add significant value, this asset will be in high demand!
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Additional Information
- Pool Description
- None
- Fireplace Description
- Family Room
- Heat
- Wall Furnace
- Cooling Description
- None
- View
- Neighborhood
- Roof
- Composition
- Garage Spaces Total
- 7
- Sewer
- Public Sewer
- Water
- Public
- Attached Structure
- Attached
- Number Of Units Total
- 7
- Gross Scheduled Income
- $160,440
- Operating Expense
- 70189
Listing courtesy of Listing Agent: Cameron Jacques (cameron@kinnerys.com) from Listing Office: Kinnery's Brokerage House.
Listing sold by Cameron Jacques from Kinnery's Brokerage House
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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.