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3040 Fillmore Way Costa Mesa, CA 92626
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Key Details
Sold Price $2,850,000
Property Type Commercial
Sub Type Other
Listing Status Sold
Purchase Type For Sale
Square Footage 6,894 sqft
Price per Sqft $413
MLS Listing ID CRNP23102429
Sold Date 07/13/23
HOA Y/N No
Year Built 1963
Lot Size 0.260 Acres
Acres 0.26
Property Description
This rare value-add opportunity presents two side-by-side 3-unit apartment buildings located in a high demand location of Costa Mesa. While one unit has already undergone a complete rehabilitation, there is significant potential to increase the property's value and generate higher rental income by rehabbing the remaining five units which are mostly in original condition. These townhouse-style units all feature 2 bedrooms and 1.25 bathrooms, interior laundry, sizable private backyard patios and enclosed parking. The layout provides a comfortable and spacious environment, making these units attractive to individuals or small families seeking ample living space and allowing the tenants to create a sense of home. Investors can capitalize on this opportunity by implementing a strategic renovation plan to bring the remaining units up to market standards allowing for higher rental rates but also increasing the overall property value. This investment has significant upside potential for savvy investors. The Property is one parcel with six units, so must be sold together as one single purchase.
Location
State CA
County Orange
Area Central Costa Mesa
Interior
Fireplace No
Laundry Laundry Room
Building
Sewer Public Sewer
Water Public
New Construction No
Others
Tax ID 14113423
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Bought with GeneralNonmember