Exceptional Investment Opportunity – Two detached homes on a large 9,218-square-foot parcel! Located in the rapidly appreciating West Side Costa Mesa area, this property is ideal for investors, developers, or homeowners seeking rental income. The prime property presents a promising opportunity for investors to increase income by adjusting the existing below-market lease rates to market value.
The recently renovated front home has 3 bedrooms and 1 full bathroom, featuring a spacious, gated front yard. The open floor plan offers vaulted ceilings, wood flooring, and a brick fireplace, with abundant natural light streaming through skylights and windows. An independent, gated rear yard attached to this house provides the perfect space for private relaxation or entertaining. The front home is currently leased for $3,600 per month and will be vacant and available for lease in mid-November, with high interest already expressed by potential tenants. It is actively listed for lease at $3,900 per month.
The rear detached home, with its own private, gated backyard, includes 4 bedrooms and 2 bathrooms. The open living room and kitchen create a seamless flow, leading to an expansive outdoor area shaded by mature trees for added privacy and tranquility. The current long-term tenant in the rear is on a month-to-month lease at $3,600 per month, while similar neighboring rentals are achieving up to $4,200 per month, highlighting potential for increased rental income. Each home has a separate laundry area, a one-car garage, and ample off-street parking.
Conveniently situated near the vibrant 17th Street scene and the iconic beaches of Newport Beach, this duplex offers an outstanding opportunity for income generation and capital growth in a highly sought-after location. Zoned for multifamily development, this property presents prime development potential. Don’t miss out on this incredible opportunity!
The recently renovated front home has 3 bedrooms and 1 full bathroom, featuring a spacious, gated front yard. The open floor plan offers vaulted ceilings, wood flooring, and a brick fireplace, with abundant natural light streaming through skylights and windows. An independent, gated rear yard attached to this house provides the perfect space for private relaxation or entertaining. The front home is currently leased for $3,600 per month and will be vacant and available for lease in mid-November, with high interest already expressed by potential tenants. It is actively listed for lease at $3,900 per month.
The rear detached home, with its own private, gated backyard, includes 4 bedrooms and 2 bathrooms. The open living room and kitchen create a seamless flow, leading to an expansive outdoor area shaded by mature trees for added privacy and tranquility. The current long-term tenant in the rear is on a month-to-month lease at $3,600 per month, while similar neighboring rentals are achieving up to $4,200 per month, highlighting potential for increased rental income. Each home has a separate laundry area, a one-car garage, and ample off-street parking.
Conveniently situated near the vibrant 17th Street scene and the iconic beaches of Newport Beach, this duplex offers an outstanding opportunity for income generation and capital growth in a highly sought-after location. Zoned for multifamily development, this property presents prime development potential. Don’t miss out on this incredible opportunity!
Property Details
Price:
$1,800,000
MLS #:
NP24223351
Status:
Active
Baths:
0
Address:
777 W 18th Street
Type:
Residential Income
Subtype:
Duplex
Subdivision:
Westside Costa Mesa South WSCM
Neighborhood:
c2southwestcostamesa
City:
Costa Mesa
Listed Date:
Nov 1, 2024
State:
CA
ZIP:
92627
Lot Size:
9,218 sqft / 0.21 acres (approx)
Year Built:
1961
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Schools
Interior
Accessibility Features
No Interior Steps
Appliances
Built- In Range, Disposal, Gas Oven, Gas Range, Gas Cooktop, Water Heater
Cooling
None
Fireplace Features
Living Room, Wood Burning, Masonry
Flooring
Laminate, Tile, Wood
Heating
Forced Air, Wall Furnace
Interior Features
Beamed Ceilings, Cathedral Ceiling(s), Ceramic Counters, Open Floorplan, Tile Counters, Unfurnished
Window Features
Screens, Skylight(s)
Exterior
Community Features
Sidewalks
Fencing
Block, Excellent Condition, Vinyl
Foundation Details
Slab
Garage Spaces
2.00
Lot Features
2-5 Units/ Acre, Back Yard, Front Yard, Landscaped, Lawn, Lot 6500-9999, Rectangular Lot, Level, Near Public Transit, Paved, Treed Lot, Utilities – Overhead, Yard
Parking Features
Assigned
Parking Spots
8.00
Pool Features
None
Roof
Composition
Sewer
Public Sewer
Spa Features
None
Stories Total
1
View
None
Water Source
Public
Financial
Association Fee
0.00
Tenant Pays
Electricity, Gas
Utilities
Cable Connected, Electricity Connected, Natural Gas Connected, Phone Available, Phone Connected, Sewer Connected, Water Connected
Map
Community
- Address777 W 18th Street Costa Mesa CA
- AreaC2 – Southwest Costa Mesa
- SubdivisionWestside Costa Mesa South (WSCM)
- CityCosta Mesa
- CountyOrange
- Zip Code92627
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Courtesy of Arbor Real Estate. Disclaimer: All data relating to real estate for sale on this page comes from the Broker Reciprocity (BR) of the California Regional Multiple Listing Service. Detailed information about real estate listings held by brokerage firms other than include the name of the listing broker. Neither the listing company nor shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. The Broker providing this data believes it to be correct, but advises interested parties to confirm any item before relying on it in a purchase decision. Copyright 2024. California Regional Multiple Listing Service. All rights reserved.
777 W 18th Street
Costa Mesa, CA
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