617 Victoria Street, Costa Mesa

$5,995,000

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2

Beds

1

Bath

0.46

Acres

About 617 Victoria Street

**MILLION DOLLAR PRICE REDUCTION, SELLER WILL MOVE THIS ASSET. ALL OFFERS ARE ENCOURAGED** Introducing an exceptional investment opportunity at 615-617 Victoria Street, brought to you by Le Investment Group and Gould Group. Spanning three parcels, totaling 1.32 acres, the property presents an array of prospects. Currently there are 12 single-story residences, each with 2 bedrooms and 1 bathroom, a single-car garage, washer/dryer hookups, and private patio. Nestled within the property is a sprawling tree lined, grassy courtyard. With strategic renovations, savvy investors stand to unlock substantial rental upside, potentially exceeding 40% on the existing units alone. Furthermore, ADU regulations established by the city of Costa Mesa present the opportunity to add more units, amplifying rental income and elevating the property's overall value. For developers seeking a larger project in the Costa Mesa market, this property is an unparalleled find. Positioned in the Mesa West Residential Urban Plan, these parcels offer a rare chance for redevelopment, allowing for the creation of new apartments or saleable units with increased density compared to other opportunities in the area. Plus, it is located in an Opportunity Zone. Don't miss out on this investment opportunity, combining current rental income potential with significant future growth prospects.

Features of 617 Victoria Street

MLS® # IV24120357
Price $5,995,000
Bedrooms 2
Bathrooms 1.00
Acres 0.46
Year Built 1955
Type Residential Income
Sub-Type Apartment
Status Active

Community Information

Address 617 Victoria Street
Area 699 - Not Defined
City Costa Mesa
County Orange
Zip Code 92627

Amenities

Parking Spaces 12
# of Garages 12
Is Waterfront No
Has Pool No
Pool None

Interior

Has Basement No
Fireplace No
# of Stories 1
Stories One

Exterior

Lot Description 11-15 Units/Acre

Additional Information

Date Listed June 12th, 2024
Days on Market 43
Foreclosure No
Short Sale No
RE / Bank Owned No

Listing Details

AgentAlbert Le
OfficeLE INVESTMENT GROUP

Listing Map

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