3133 Coral Avenue

Costa Mesa, CA 92626

Priced attractively below market value due to the currently low rents, this outstanding income property provides upside to the new owner to achieve an approximate 40% increase in Gross Scheduled Income and approximate 4% CAP rate. Take advantage of this unique opportunity to own a unicorn among the neighboring properties in the desirable Mesa Verde area of Costa Mesa. This 3-unit property consists of a 4-bedroom, 2-bathroom custom detached home with fireplace (1,663 sq ft) built for the owners in 1996, plus a duplex includes comprised of a generously sized 3-bedroom, 2-bathroom unit with fireplace, as well as a comfortable 2-bedroom, 1.5-bathroom unit. The expansive 12,500 sq ft lot allows for each unit to feature a private patio and/or yard, enhancing the living experience for tenants. Additionally, the property provides 3 garage spaces and 6 private parking stalls. For added convenience, laundry hookups are available in each unit, offering a competitive edge in the rental market. The owner has recently renovated the interiors of all 3 units and installed brand new garage doors. Great for an Owner User or 1031 Exchange Buyer, this investment property is not to be overlooked. Schedule your viewing today.

Listing courtesy of The Oppenheim Group ?



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Data last update at 2023