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.
Additional Features
- Level with Street
- One
- Parking spaces: 9.00
- Listing Status: Active
- Listing Agent: Tyler Leeson
(lic# 01451551)
of Orange County
- Listing Office: Marcus & Millichap RE Invest
(lic# 00530854)
- CO-Listing Agent: WMichael Cavner
(lic# 01274709)
of Orange County
- CO-Listing Office: William Michael Cavner, Broker
(lic# 01274709)
-
Based on information from CRISNet MLS as of 2nd December 2024 at 7:06am. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
