MLS® ID: NP18267583

116 E 21st Street

Costa Mesa, California, 92627

$3,250,000 Pending
  • - SQFT
Pride of ownership, 8 Units, located in highly desired East Costa Mesa, one of Orange County's premier rental markets bordering the affluent city of Newport Beach. From this location tenants enjoy convenient access to world class beaches, the Newport Back Bay Trails, a plethora of hip dining establishments and South Coast Plaza, the nation's largest shopping center on the West Coast. The East 21st Street Apartment Homes have been immaculately maintained by the current ownership with several interior and exterior renovations completed. Improvements include dual pane windows, kitchens, cabinets, granite counters, stand-up showers, remote access iron gates, concrete stairs, new asphalt sealcoat, modern exterior paint scheme and much more. A collection of eight spacious 2 bedroom units with an average size of roughly 910 square feet each. The size of the units and the location, have made these units easy to rent, attracted longer-term tenants and has produced solid income. Current rents average $1,692 and market rents are roughly $1,975 for similar rentals. An excellent investment property for an astute investor with roughly 15% of upside in rental income.
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Listing courtesy of Investment Capital Real Estate

Amenities

  • Full baths
    0
  • Half baths
    0
  • Zip
    92627
  • Office name
    Investment Capital Real Estate
  • SQFT
    0
  • Bedrooms
    0
  • Zoning type
    R2
  • Year built
    1963
  • Lot size
    13939.00
  • Sewer
    Public Sewer
  • Tax year
    0
  • Agent name
    Ignacio Diaz Jr.
  • Tax amount
    $ 0.0
  • Purchase Type
    Active
  • Price Range
    $2m+
  • Square Feet Range
    < 1000 sq ft.
  • Year Built Range
    1989 (and earlier)
  • Office ID
    U6741
  • Agent ID
    U40521

Location

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