Welcome to 2028 Wallace Avenue, a rare multifamily/redevelopment investment opportunity located in the heart of Costa Mesa’s 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.
Property Details
Price:
$2,250,000
MLS #:
NP25117556
Status:
Active
Baths:
0
Address:
2028 Wallace Avenue
Type:
Residential Income
Subtype:
Apartment
Subdivision:
Costa Mesa Residential Income CMRI
Neighborhood:
c4centralcostamesa
City:
Costa Mesa
Listed Date:
May 27, 2025
State:
CA
ZIP:
92627
Lot Size:
18,539 sqft / 0.43 acres (approx)
Year Built:
1956
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Schools
Interior
Exterior
Community Features
Biking, Curbs, Sidewalks, Storm Drains, Street Lights
Garage Spaces
7.00
Lot Features
6-10 Units/ Acre
Parking Features
Assigned
Parking Spots
7.00
Pool Features
None
Sewer
Public Sewer
Stories Total
1
Water Source
Public
Financial
Map
Community
- Address2028 Wallace Avenue Costa Mesa CA
- AreaC4 – Central Costa Mesa
- SubdivisionCosta Mesa Residential Income (CMRI)
- CityCosta Mesa
- CountyOrange
- Zip Code92627
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2028 Wallace Avenue
Costa Mesa, CA
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