777 W 18Th Street, Costa Mesa, CA 92627
-
Listed Price :
$1,800,000
-
Beds :
N/A
-
Baths :
N/A
-
Property Size :
N/A sqft
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Year Built :
1961
Property Description
Exceptional Investment Opportunity – Two detached homes on a large 9,218-square-foot parcel! Located in the rapidly appreciating West Side Costa Mesa area, this property is ideal for investors, developers, or homeowners seeking rental income. The prime property presents a promising opportunity for investors to increase income by adjusting the existing below-market lease rates to market value.
The recently renovated front home has 3 bedrooms and 1 full bathroom, featuring a spacious, gated front yard. The open floor plan offers vaulted ceilings, wood flooring, and a brick fireplace, with abundant natural light streaming through skylights and windows. An independent, gated rear yard attached to this house provides the perfect space for private relaxation or entertaining. The front home is currently leased for $3,600 per month and will be vacant and available for lease in mid-November, with high interest already expressed by potential tenants. It is actively listed for lease at $3,900 per month.
The rear detached home, with its own private, gated backyard, includes 4 bedrooms and 2 bathrooms. The open living room and kitchen create a seamless flow, leading to an expansive outdoor area shaded by mature trees for added privacy and tranquility. The current long-term tenant in the rear is on a month-to-month lease at $3,600 per month, while similar neighboring rentals are achieving up to $4,200 per month, highlighting potential for increased rental income. Each home has a separate laundry area, a one-car garage, and ample off-street parking.
Conveniently situated near the vibrant 17th Street scene and the iconic beaches of Newport Beach, this duplex offers an outstanding opportunity for income generation and capital growth in a highly sought-after location. Zoned for multifamily development, this property presents prime development potential. Don’t miss out on this incredible opportunity!
Interior Features
| Laundry Information |
| Location(s) |
Gas Dryer Hookup, Laundry Room, Outside |
| Bedroom Information |
| Features |
All Bedrooms Down, Bedroom on Main Level |
| Bedrooms |
N/A |
| Bathroom Information |
| Bathrooms |
N/A |
| Flooring Information |
| Material |
Laminate, Tile, Wood |
| Interior Information |
| Features |
Beamed Ceilings, Ceramic Counters, Cathedral Ceiling(s), Open Floorplan, Tile Counters, Unfurnished, All Bedrooms Down, Bedroom on Main Level, Walk-In Closet(s) |
| Cooling Type |
None |
Listing Information
| Address |
777 W 18Th Street |
| City |
Costa Mesa |
| State |
CA |
| Zip |
92627 |
| County |
Orange |
| Listing Agent |
Stephanie Peterson DRE #01984954 |
| Co-Listing Agent |
Susan Krueger DRE #02002894 |
| Courtesy Of |
Arbor Real Estate |
| List Price |
$1,800,000 |
| Status |
Active |
| Type |
Residential Income |
| Subtype |
Duplex |
| Structure Size |
N/A |
| Lot Size |
9,218 |
| Year Built |
1961 |
Listing information courtesy of: Stephanie Peterson, Susan Krueger, Arbor Real Estate. *Based on information from the Association of REALTORS/Multiple Listing as of Nov 11th, 2024 at 7:45 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.
