1925 Wallace Ave Costa Mesa, CA 92627
- Industrial land
- 585 SF
- 0.22 lot acres
Current Use by Public Records
- Industrial land
Property Details for 1925 Wallace Ave
- Year built
- 1964
- Lot size
- 0.22 lot acres
- Property size
- 585 SF
- Property type
- Industrial land
- APN
- 422-271-17
- APU
- 42227117
Description
This exceptional investment opportunity presents a four-unit apartment building situated on a sizable 0.42-acre lot (approximately 18,295 square feet) in the desirable Costa Mesa, California, market. The property, located at 1925 Wallace Avenue, zip code 92627, boasts a prime location within Orange County. Constructed in 1960, the existing building offers immediate income potential with four individual units. The property's significant appeal lies in its redevelopment potential. The substantial lot size allows for the possibility of expanding the existing structure or constructing new units, subject to all necessary approvals and permits. Current operating expenses include a combined $73.60 monthly charge for trash and water, and $204.25 for insurance. Annual property taxes amount to $2,296.31. Utilities (electricity and gas) are the responsibility of individual tenants. This property presents a unique chance to acquire a multifamily asset with substantial upside potential in a thriving California market. Investors seeking a blend of immediate income and long-term growth will find this offering particularly attractive. Serious inquiries are encouraged.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Costa Mesa
- County
- Orange
- State
- California
- Longitude
- -117.931
- Latitude
- 33.6444
- CBSA code
- 31080
- CBSA name
- LOS ANGELES-LONG BEACH-ANAHEIM, CA METROPOLITAN STATISTICAL AREA
