$12,000,000
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283 Avocado Street Costa Mesa, CA 92627
Apartment
Residence
Beds
Baths
...
Bed/Bath
14,159
Sq. Ft.
Property Activity
Time on Site
days
Days on Market
Views
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Legitimate turnkey multifamily investment property offering a range of one-, two-, and three-bedroom loft-style floor plans. Substantial investment was made in 2023 and 2024, with over $1.6M in interior and exterior capital improvements. 100% of the interiors are fully renovated, including all new... appliances, cabinets/counters, new electrical panels, flooring, painting and drywall, and all new windows and doors. Common area improvements include the roofs, painting, termite & pest mitigation, and tenting of the entire structure, exterior wood, decking, all new stairs and railings, all new asphalt, hardscape/softscape, mailboxes, plumbing, house electrical panels, and garage doors. ABOVE ALL, the debt component sets this project apart from nearly all other investments within the marketplace. Available to assume is a private note with a 50% LTV and interest-only payments until 2032 starting at 3.5%, with a cap at 5.0%, resulting in a blended interest rate of 4.61% over the term. This equates to an initial cash-on-cash return of over 4% with a down payment of $6,000,000—no appraisal required, no points for the loan assumption, COE in 30 days or less.
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MLS#
OC24013316
Property Type
Apartment
Year Built
1973
Square Feet
14,159
sq. ft
Lot Size
0.85
Stories
2.0
Sewer
Public Sewer
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