1920 Wallace AV
Costa Mesa, CA, 92627
$3,190,000
Beds
0 Baths
0 SqFt
0.42 Acres
Add
MLS #OC26133275 image #0
Rare opportunity to acquire a pride-of-ownership 8-unit investment property in the highly sought-after Westside Costa Mesa rental market, offered for sale for the first time in more than 25 years. Near 19th Street and Placentia Avenue, this well-maintained asset offers a combination of strong in- place income, stable occupancy, and long-term upside in one of Orange County’s most desirable coastal submarkets. The property benefits from an exceptional location, placing residents within minutes of popular restaurants, breweries, coffee shops, shopping, beaches, and outdoor recreation. Convenient access to the 55 Freeway provides direct connectivity to Newport Beach, John Wayne Airport, major employment centers, and the greater Orange County transportation network, making the property highly attractive to a broad tenant base. The asset consists of two separate fourplex buildings comprising a total of eight 1 bedroom units. Each building features two upstairs and two downstairs residences. Three of the ground-floor units enjoy private enclosed yards or patios
surrounded by white picket fencing and landscaping, creating a residential feel and highly desirable outdoor living spaces rarely found. The property is secured by a gated pedestrian entrance and remote-controlled vehicle gate. A secondary access point at the rear of the property connects
directly to a recently renovated city alleyway, providing additional convenience for residents. The driveway and parking areas are constructed entirely of concrete rather than asphalt, helping minimize long-term maintenance requirements. There are 4 double-car garages along with additional off-street parking spaces for approximately 15 vehicles! 3 of the 4 double car garages are currently on a month to month basis to long-term non-residents, generating $1,000 per month total in supplemental income. The fourth garage is utilized as shared resident storage. Each unit is equipped with in-unit washer and dryer hookups and an individual water heater. There is no house gas meter, reducing owner-paid utility expenses. The house electrical meter serves exterior lighting and the security gate, resulting in minimal common-area utility costs. All units feature efficient and functional floor plans with open-concept kitchens that flow directly into the living areas. Double-pane windows have been installed in all living and dining rooms, improving energy efficiency, reducing exterior noise, and enhancing overall resident comfort.

Property Details

Price:
$3,190,000
MLS #:
OC26133275
Status:
Pending
Beds:
0
Baths:
0
Type:
Single Family
Subtype:
Apartment
Neighborhood:
c2southwestcostamesa
Listed Date:
Jul 22, 2026
Total Sq Ft:
4,718
Lot Size:
18,430 sqft / 0.42 acres (approx)
Year Built:
1960
C2 – Southwest Costa MesaC2southwestcostamesa

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Schools

Interior

Laundry Features
GAS, WH
Levels
U

Exterior

Common Walls
_2CW
Community Features
SDW, CRB, CW
Garage Spaces
8
Parking Spots
15
Parking Total
15

Financial

Gross Operating Income
$205,795
Net Operating Income
$131,708

Map

Community

Market Summary

Current real estate data for Single Family in Costa Mesa as of Jul 26, 2026
202
Single Family Listed
62
Avg DOM
527
Avg $ / SqFt
$1,056,806
Avg List Price

Property Summary

    Located in the Other (OTHR) subdivision, 1920 Wallace AV Costa Mesa CA is a Single Family for sale in Costa Mesa, CA, 92627. It is listed for $3,190,000 and features 0 beds, 0 baths, and has approximately 0 square feet of living space, and was originally constructed in 1960. The average price per square foot for Single Family listings in Costa Mesa is $527. The average listing price for Single Family in Costa Mesa is $1,056,806.

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