map Map favorite Favorite share Share image 50 Photos print Print
Photo
Photo Photo

984 988 Mission Drive

Costa Mesa, CA 92626

$4,295,000

List Price

N/A

bed Beds

N/A

shower Baths

N/A sqft

straighten / sqft

1964

calendar_month Built

Property Description

This is an exceptional investment opportunity in the sought-after Mesa Del Mar enclave of Costa Mesa. Built in 1964, the property is situated on a 6,935-square-foot lot with well-maintained landscaping that reflects a well-kept property. These buildings offer a diverse configuration of units, including a 3-bedroom/2.5-bathroom townhouse, a 2-bedroom/1.5-bathroom townhouse, a 1-bedroom/1-bathroom unit, and a studio. Residents enjoy amenities such as a gated, lush community courtyard accessible from both the front and rear, six single-car garages, and a community laundry room. Each property is individually metered for gas and electric, and additional income is generated from the laundry facilities and garage rentals. Strategically located, this property offers easy accessibility to the best of Costa Mesa, including South Coast Plaza, The Camp, The LAB, and the Harbor Blvd shopping corridor. Tenants benefit from quick access to major freeways, including the 405, 55, and 73 Freeways. This well-maintained property represents a secure investment in a prime location, with upside potential. Extensive interior renovations across both 984 and 988 Mission Dr include complete remodels in several units with new kitchens, flooring, and bathrooms, while others have partial updates or require further improvements. While recent renovations and updates have improved the property, there remains value-add potential. Several of the current rents are below market, offering opportunities for rent adjustments. Additionally, multiple units could benefit from further upgrades. Moreover, there is potential to develop Accessory Dwelling Units (ADUs) in the courtyards, which would further enhance rental income. Many property owners in the Mesa Del Mar area have already capitalized on identical lots by constructing ADUs in the courtyards and underutilized garages, further demonstrating the potential of this investment. This property offers not only a secure investment but also an inviting residential haven at the heart of Costa Mesa’s vibrant offerings.

Listing Information

List Price $4,295,000
Status Active
MLS OC24192192
Type Residential Income
Subtype Apartment
Year Built 1964
Lot Size 6,970
Structure Size N/A
DOM 1
Courtesy Of Mark Bridge, Broker
Listing Agent Mark Bridge DRE#01316702

Interior Features

Laundry Information
Location(s) Common Area
Total Bedroom
Bedrooms N/A
Total Bathroom
Bathrooms N/A

Exterior Information

Maps

home_work Nearby Properties

Image

$3,700,000

king_bed N/A
shower N/A
straighten N/A
straighten 7,405
984 El Camino Drive,

Costa Mesa, CA 92626
Image

$2,575,000

king_bed N/A
shower N/A
straighten N/A
straighten 12,197
2884 La Salle Avenue,

Costa Mesa, CA 92626
Image

$3,400/month

king_bed 3
shower 2
straighten 1,200
straighten 6,534
1033 Mission Drive, #D,

Costa Mesa, CA 92626
Image

$2,800/month

king_bed 2
shower 1
straighten 3,085
straighten 7,405
2869 Mendoza Drive, #A,

Costa Mesa, CA 92626
Image

$2,500/month

king_bed 2
shower 1
straighten 900
straighten 7,405
2869 Mendoza Drive, #C,

Costa Mesa, CA 92626

Listing information courtesy of: Mark Bridge, Mark Bridge, Broker . *Based on information from the Association of REALTORS/Multiple Listing as of Sep 18th, 2024 at 5:14 PM and/or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. 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.