131 E 21st Street, Costa Mesa, CA 92627
List Price: $3.49M
Listing Status: Active
0Days on Market: 0
0 Bedrooms · 0 Bathrooms
Property Type: ResidentialIncome
Year Built: 1961
Lot Size: 15,746 sq ft
Garage Spaces: 6
Private Pool: Yes
MLS Number: OC26116869
About This Property
Rare opportunity to acquire a pride-of-ownership 5-unit investment property in the highly sought-after Eastside Costa Mesa rental market, offered for sale for the first time in approximately 27 years. Situated on an expansive approximately 15,746 square foot lot, the property features an attractive cottage-style layout with exceptional tenant appeal in one of Orange County’s most desirable coastal submarkets. The front of the property consists of a charming freestanding 2-bedroom, 1-bath house featuring a large enclosed front yard with a white picket fence, along with a private enclosed rear yard. The rear of the property is comprised of two additional residential buildings featuring two 1-bedroom units and two 2-bedroom units. Each residence offers its own private enclosed yard, patio, or outdoor space, creating a highly desirable residential feel for tenants. Additional amenities include six enclosed garages, 5 with automatic openers, one of which is currently rented separately for additional income of $250 per month. In-unit washer and dryer hookups. Off-street parking for approximately eight vehicles is a huge tenant appeal. The property is separately metered for gas and electricity with no house gas or electric meters, helping minimize owner utility expenses. Each unit also has its own individual water heater, with residents paying for their own gas usage. The operating expenses listed only consist of water, trash, current property taxes, current insurance, gardening, and property management. The property benefits from a stable long-term tenant base and a desirable Eastside Costa Mesa location offering convenient access to Newport Boulevard, the 55 Freeway, beaches, shopping, dining, and major employment centers.
Listing provided by: Scott Gerard DRE #01004111 714-964-9602