291 - 293 Avocado Street is a 24-unit multifamily property in Costa Mesa, California. The asset consists of two 12-unit buildings situated on contiguous parcels and arranged around a shared central courtyard. Built in 1965, the gated property offers approximately 18,012 rentable square feet and features a unit mix of… Read More 20 one-bed/one-bath units and 4 two-bed/one-bath units. The property provides 45 parking spaces (approximately 1.9 per unit), including a mix of surface, carport, and garage parking, along with an on-site laundry room. Ownership has completed several capital improvements, including a roof replacement, copper plumbing, and upgraded electrical subpanels. The property has also completed its SB-721 inspection with no required corrective work. 19 of the 24 units have been renovated, and rents are currently near market, supporting stable in-place income. The installation of in-unit washer/dryer hookups presents a potential enhancement, as this feature remains relatively uncommon among comparable properties yet is highly desirable to renters. The property also includes underutilized common area space that could be repositioned into amenities or, subject to city approval, may offer ADU potential. The property is located in a desirable Westside Costa Mesa setting with convenient access to nearby retail, dining, and major transportation corridors. Read Less
Property listed by Marcus & Millichap RE Invest, Tyler Leeson 310-259-7556
Listing Snapshot
Days Online
1
Last Updated
Property Type
Apartment
Lot Size
0.85 Acres
Year Built
1965
MLS Number
OC26091598
Additional Details
Building
Built in 1965, 2 buildings, 2 stories, Levels: Two, Entry level: 1, Entry location: First level
Based on information from California Regional Multiple Listing Service, Inc. as of and/or other sources. 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.
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