1966 Wallace Avenue, Costa Mesa, CA, 92627

1966 Wallace Avenue, Costa Mesa, CA, 92627 < >
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for sale
$1,375,000
Year Built:1960
Status:Active Under Contract
MLS #:NP17191184
Date Updated:
For information contact:
Star Real Estate
1-888-887-1897
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Go See This Home
HUGE OVER $100K PRICE REDUCTION!!! Unique and rare opportunity to acquire a four unit property including a free standing single family residence to generate income while processing plans for a new potential 6-unit condo or PUD development in Westside Costa Mesa. Huge 18,200 sq. ft. lot with a 2bd + 1ba free-standing single family residence, 2 - 1bd+1ba units and one 2bd+1ba unit. Lots of open space in back. Westside Costa Mesa is going through a huge transition with new trendy residential homes going up throughout. To find a fixer with such a large lot is rare. This is a very good long term investment. Property is a fixer, but could be renovated if you wished to land-bank or increase rents. Minutes to the beach and just around the corner from Hurley Headquarters. Cap Rate and scheduled incomes are pro forma. Current cap rate and incomes are 2.19% Gross:$59,460 Net:$32,876 DO NOT DISTURB TENANTS, DO NOT WALK PROPERTY PLEASE
Interior Details
Levels: OneStories Total: 1

Exterior Details
Garage Spaces: 4.00Lot Features: Lot 10000-19999 Sqft
Number Of Buildings: 2Number Of Units Total: 4
Parking Total: 4.00Pool Features: None

Community Information
County Or Parish: OrangeDirections: From Harbor go West on 19ths street then make a right on Wallace.
MLS Area Major: 699 - Not DefinedParcel Number: 42226209
Zoning: R-2

Property Information From MLS Data
Year Built: 1960

Utilities
Heating: Forced AirWater Source: Public

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Walk Score® for 1966 Wallace Avenue
Schools near 1966 Wallace Avenue
Listing courtesy of David Sanford, Newport Apartment Group

Information obtained from CACRMLS is current as of 10/19/2017 12:19 AM. Information provided by seller/other sources, not verified by broker. All interested persons should independently verify accuracy of all information. Information deemed reliable but not guaranteed. Information provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.