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!
Property Details
Price:
$3,700,000
MLS #:
PW25077806
Status:
Active
Baths:
0
Address:
2585 Orange Avenue
Type:
Residential Income
Subtype:
Apartment
Subdivision:
Eastside Central ECCM
Neighborhood:
c5eastcostamesa
City:
Costa Mesa
Listed Date:
Apr 9, 2025
State:
CA
ZIP:
92627
Lot Size:
23,522 sqft / 0.54 acres (approx)
Year Built:
1955
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Schools
Interior
Cooling
None
Fireplace Features
Family Room
Heating
Wall Furnace
Exterior
Community Features
Biking, Curbs, Golf, Gutters, Park, Watersports, Sidewalks, Street Lights, Suburban
Fencing
Wood
Garage Spaces
7.00
Lot Features
Sprinkler System
Parking Features
Assigned
Parking Spots
20.00
Pool Features
None
Roof
Composition
Sewer
Public Sewer
Spa Features
None
Stories Total
1
View
Neighborhood
Water Source
Public
Financial
Utilities
Cable Connected, Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected
Map
Community
- Address2585 Orange Avenue Costa Mesa CA
- AreaC5 – East Costa Mesa
- SubdivisionEastside Central (ECCM)
- CityCosta Mesa
- CountyOrange
- Zip Code92627
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2585 Orange Avenue
Costa Mesa, CA
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