Reduced $200k with a 5. 2% cap rate! West side costa mesa investment or redevelopment opportunity - 2 upgraded and updated single family detached homes on one lot. Both units are approximately 1750 sq. Ft. , both have 4 beds 3 full baths on an r2 medium density 11,700 sq. Ft. Lot. Front unit has been repainted, newer stainless steel appliances with granite counters in kitchen, baths are good condition with tiled and wood flooring, dual paned windows, and a 3 car attached garage. Rear unit was completely updated and upgraded with new laminate wood floors, all new remodeled bathrooms, new neutral paint, dual paned windows, and 3 reserved parking spaces. Long driveway for plenty of parking. Upgraded 100 amp electric meter, copper plumbing in both homes. 2 separate addresses & all separate utility meters incl 2 water meters. Great location & close to beach/ocean, costa mesa country club, dmv, medical facilities, schools, local eateries, and parks. Easy access to 55, 73, & 405 freeways. Zoned r2 medium density with potential to build 3rd unit or redevelopment, please check with city of costa mesa.
The vacancy rate of homes in 92627 is
4.12% with 36.56% of homes being owner-occupied. The median household income in 92627 is $64105 per year with those between 25 and 44 having the highest median income at $70995.