735 JOANN STREET, COSTA MESA CA 92627

  • 23,403 sq.ft.
  • 39,204 sq.ft. lot
offered at $9,450,000
MLS#:OC18191779
Status: Active Under Contract // Property Type:
County: Orange // Year Built: 1964

Property Description

Four Seasons is a rare 23-unit multi-family, townhouse investment offering, well located in the City of Costa Mesa. Comprised entirely of large, two bedroom / one and one-half bathroom townhouse style units, each apartment features gas forced air heating, one covered parking space, one open space, washers & dryers in select units, and access to a large central courtyard with a pool. The configurations of the 4-building courtyard-style property exterior, and the large townhouse unit interiors, provide a new owner the opportunity to simply stabilize the existing revenue stream or potentially implement a comprehensive renovation program that will lead to top-market rents. The unit-count, physical attributes, and micro-location of this property will remain attractive to tenants and investors alike for many years to come. Salient Features ** Extremely High Demand Rental Location - 2.5 Miles from the Pacific Ocean **14.7 GIM and 4.2% Capitalization Rate at Market Income ** Very Rare Mid-size Property Offering on the Westside **100% - 2 Bedroom / 1.5 Bath Townhouse Units - 1,015 Square Feet Each ** Legitimate Value-Add Investment in a Very Supply Constrained Coastal Market

Listing Courtesy of WMichael Cavner, William Michael Cavner, Broker

Interior Features

Heating: Forced Air

Exterior Features

Exterior Features: Curbs, Sidewalks, Street Lighting
FOR MORE INFORMATION, PLEASE CONTACT AGENT:
  • brogyn gage
    Realtor |
    CalBRE# 01996752
    • cell 661.904.8789
    • office 949.612.2535
    email Brogyn

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