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$ 2,250,000
Est. payment | /mo
5 Beds
4 Baths
0.43 Acres Lot
$ 2,250,000
Est. payment | /mo
5 Beds
4 Baths
0.43 Acres Lot
Key Details
Property Type Multi-Family
Sub Type Res Income 2-4 Units
Listing Status Active
Purchase Type For Sale
MLS Listing ID NP25117556
Bedrooms 5
HOA Y/N No
Lot Size 0.426 Acres
Property Sub-Type Res Income 2-4 Units
Property Description
Welcome to 2028 Wallace Avenue, a rare multifamily/redevelopment investment opportunity located in the heart of Costa Mesas rapidly evolving Westside. Situated on a massive lot, this three-unit property features an attractive unit mix consisting of (1) 3BR/2.5BA and (2) 2BR/1BA units across approximately 2,299 SF of existing living space. Positioned within the Mesa West Urban Plan and a federally recognized Opportunity Zone, 2028 Wallace offers significant upside potential. Investors have the opportunity to modernize the existing units, add Accessory Dwelling Units (ADUs), or redevelop the site entirely by leveraging the increased density allowances of the Mesa West Specific Plan. The Opportunity Zone designation further enhances the appeal with the potential for long-term tax advantages.
Welcome to 2028 Wallace Avenue, a rare multifamily/redevelopment investment opportunity located in the heart of Costa Mesas rapidly evolving Westside. Situated on a massive lot, this three-unit property features an attractive unit mix consisting of (1) 3BR/2.5BA and (2) 2BR/1BA units across approximately 2,299 SF of existing living space. Positioned within the Mesa West Urban Plan and a federally recognized Opportunity Zone, 2028 Wallace offers significant upside potential. Investors have the opportunity to modernize the existing units, add Accessory Dwelling Units (ADUs), or redevelop the site entirely by leveraging the increased density allowances of the Mesa West Specific Plan. The Opportunity Zone designation further enhances the appeal with the potential for long-term tax advantages.
Welcome to 2028 Wallace Avenue, a rare multifamily/redevelopment investment opportunity located in the heart of Costa Mesas rapidly evolving Westside. Situated on a massive lot, this three-unit property features an attractive unit mix consisting of (1) 3BR/2.5BA and (2) 2BR/1BA units across approximately 2,299 SF of existing living space. Positioned within the Mesa West Urban Plan and a federally recognized Opportunity Zone, 2028 Wallace offers significant upside potential. Investors have the opportunity to modernize the existing units, add Accessory Dwelling Units (ADUs), or redevelop the site entirely by leveraging the increased density allowances of the Mesa West Specific Plan. The Opportunity Zone designation further enhances the appeal with the potential for long-term tax advantages.
Location
State CA
County Orange
Area Oc - Costa Mesa (92627)
Zoning Assessor
Exterior
Parking Features Unit1:Assigned
Building
Lot Description Curbs, Sidewalks
Story 1
Others
Monthly Total Fees $171
Acceptable Financing Cash
Space Rent $1,100
Listing Terms Cash
Listed by Nick Gould • Gould Group Inc