$1,600,000
$1,600,000
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631 Shalimar DR Costa Mesa, CA 92627
6,024 Sqft Lot
Key Details
Sold Price $1,600,000
Property Type Multi-Family
Sub Type Mixed Use
Listing Status Sold
Purchase Type For Sale
MLS Listing ID PW24047406
Sold Date 04/29/24
HOA Y/N No
Year Built 1957
Lot Size 6,024 Sqft
Property Description
Coastal apartments have long been a favored choice among real estate investors due to their promising appreciation rates and strong
rental income potential. In this regard, Costa Mesa has emerged as an increasingly attractive option, propelled by factors such as
gentrification, substantial growth, the general appeal of renting among young professionals, and its proximity to the thriving real estate
markets of Newport Beach and Huntington Beach.
The subject property is less than a quarter mile to Eastside Costa Mesa, the bustling retail hub on 17th Street, and the 55 freeway.
Additionally, the property is located approximately 1.25 miles from the Pacific Coast Highway (PCH). There are four large sized 1-bedroom 1-
bath units in well-maintained condition. Among the appealing aspects of this property is its adjacency to a variety of retail establishments,
including PetSmart, Trader Joe's, O'Reilly's Auto Parts, and Walgreens, thereby enriching the overall quality of life needed for its 1-bedoom
renting tenants.
Considering its prime location, substantial rental growth potential, and the prospect of securing excellent tenants, this property stands as a
valuable addition to an investor's expanding portfolio or as an ideal starting point for someone entering the real estate market.
Location
State CA
County Orange
Area 699 - Not Defined
Interior
Fireplace No
Laundry None
Exterior
Garage Door-Single, Garage
Garage Spaces 4.0
Garage Description 4.0
Pool None
Community Features Sidewalks
Utilities Available Sewer Not Available
Total Parking Spaces 4
Private Pool No
Building
Lot Description 2-5 Units/Acre, Back Yard, Front Yard
Story 2
Sewer None
Water Public
New Construction No
Others
Senior Community No
Acceptable Financing Contract
Listing Terms Contract
Financing Conventional
Special Listing Condition Standard
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Bought with Christopher Phipps • 1 Percent Lists SoCal