984 El Camino Dr - Apartments FOR SALE


Costa Mesa, CA 92626
$3,450,000 USD
949-500-5099
984 El Camino Dr, Costa Mesa, CA for Sale
$3,450,000 USD
Apartments - FOR SALE
1/23
null | 5.06% Cap Rate

984 El Camino Dr
Costa Mesa, CA 92626


HIGHLIGHTS

  • Immaculate, Turnkey Asset
  • 5.06% CAP Rate on Current Rents
  • Complete Exterior & Interior Renovation Completed in 2023
  • Situated in the Highly Coveted Mesa Del Mar Neighborhood
  • Patios, Balconies, W/D Hookups, Microwaves, A/C, High End Upgraded Interiors
  • Ample Garage & On-Site Parking, Enough for (13) Cars

OVERVIEW

Morgan Skenderian is proud to present 984 El Camino Drive, a premier investment opportunity in the sought-after Mesa Del Mar neighborhood of Costa Mesa, CA. This pristine, turnkey property received an infusion of approximately $1.3 million in 2023, encompassing a full exterior renovation and complete interior remodel. Each unit was upgraded with modern, high-end finishes, offering residents top-quality living spaces. Many units feature brand-new in-unit laundry machines, and all are equipped with new air conditioning, heating systems, microwaves, ceiling fans, stainless steel appliances, sinks, and more. The property also offers excellent parking options, with four garages, spaces for four vehicles in front of the garages, and five additional open spots, providing an impressive 2:1 parking ratio. With a 5.06% cap rate based on current rents, this asset presents a compelling opportunity for investors looking for a turnkey property with solid, immediate cash flow potential.

FOR SALE DETAILS

PRICE

$3,450,000 USD

PRICE/SF

$658 USD /SF

# OF UNITS

6

PRICE/UNIT

$575,000

CAP RATE

5.06%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1964

PARKING SPACES

13

LAND DETAILS

LAND ACRES

0.17 AC

LAND SF

7,405 SF

ZONING

-

APN/PARCEL ID

141-665-25

ASK ABOUT THIS PROPERTY

Rick ApplebaumMorgan-Skenderian Investment Real Estate GroupMore Info
949-500-5099

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Rick ApplebaumMorgan-Skenderian Investment Real Estate GroupMore Info
949-500-5099

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.