$4,500,000
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2350 Santa Ana Avenue Costa Mesa, CA 92627
Apartment
Residence
Beds
Baths
...
Bed/Bath
4,427
Sq. Ft.
Property Activity
Time on Site
days
Days on Market
Views
Saves
Introducing 2350 Santa Ana Ave, a six-unit apartment complex in Eastside Costa Mesa, CA. Built in 1963 and renovated in 2023-2024, the property blends modern comforts with classic charm on an 18,061 sq. ft. lot. It features a mix of one-, two-, and two-bedroom + den units with private outdoor spaces....
Three units have been fully upgraded with new electrical and plumbing systems, energy-efficient windows, split HVAC units, premium flooring, custom cabinetry, designer bathrooms, and stainless steel appliances. The remaining three units will be similarly renovated before closing, making the property turnkey.
Currently master leased through October 2025, the property generates $25,000 per month, offering a 5.50% cap rate with minimal owner obligations. Additionally, it holds future potential with an approved plan for five 1,700 sq. ft. condominium units.
Whether continuing the lease, repositioning as multifamily, or redeveloping, 2350 Santa Ana Ave offers multiple paths to long-term value creation.
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MLS#
OC24175525
Property Type
Apartment
Year Built
1963
Square Feet
4,427
sq. ft
Lot Size
0.41
Stories
1.0
Sewer
Public Sewer
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