758 W 20th Street
Costa Mesa, CA 92627
0.21 acres | #OC24207896
Description
Unlock the potential of this four-unit property in a prime Westside location of Costa Mesa! This property offers tremendous upside potential for investors looking to capitalize on below-market rents and increasing equity. Each of the four 2-bedroom, 1-bathroom units comes with its own garage, offering a desirable and convenient layout for tenants. All units are currently tenant-occupied on a month-to-month basis, presenting an incredible opportunity for the new owner to make upgrades and increase rents to market levels. With rents currently well below market value, this property is ideal for an investor looking to renovate and reposition. Inquire with the City to see if an ADU can be constructed either on top of the garage or built on the existing large 9,211 sqft lot. Market rents in the area for similar units are estimated at $2,700 per unit, giving the new owner the chance to bring the monthly gross income to over $11,000, and offers the investor a fantastic opportunity with generating a 5%+ cap rate; thereby making it an excellent addition to any real estate portfolio. Whether you’re an experienced investor or looking for your first multi-unit property, this gem of a building promises long-term growth and significant returns. Situated in a highly desirable area, close to shopping, dining, freeway and just minutes from the beach, this is a can't-miss opportunity for those seeking both cash flow and future appreciation. Whether you plan to improve and hold...or renovate and resell, the upside is undeniable. This is your chance to create significant equity while tapping into the strong rental demand in this vibrant community. This is your chance to secure a property with significant equity upside and tap into Costa Mesa’s growing rental market. Don’t miss out—opportunities like this are few and far between!
Location
Legal
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Based on information from California Regional Multiple Listing Service, Inc. as of the most recent time synced and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information
Last Updated: . Source: CRMLS
Listing Courtesy
Listing Agent: Ramzi Ataya (#SATAYRAM)
Listing Office: Engel & Voelkers Newport Beach (#J02252)
Listing Courtesy (Buyer)
Buyer's Agent: Ramzi Ataya (#SATAYRAM)
