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233 Avocado Street $7,250,000

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    233 Avocado Street Costa Mesa, CA 92627

    Closed
    SOLD 11/24/2022

    $7,250,000

    • 0 Beds
    • 0 Baths
    • 15,500 sq. ft.
    • Multi-Family
    • MLS# OC22147273
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    Views: 51

    Property Details

    We are pleased to present 221 1/2 - 233 Avocado Street, a 15 units + 2 Non-conforming unit multifamily community located in Costa Mesa, CA. The asset is built in 1954 and 1986 and situated on two separate parcels totaling 1.14 acres. The property features an excellent unit mix of Four & 2 bed / 2.5 bath townhomes built in 1986 with washer/dryer hookups, two-car garages, and private back patios, Ten - 2 bed / 1 bath single story detached cottages with washer/dryer hookups and one Single family home house split into One & 1 bed / 1 bath and two studios (non-conforming). There is significant income upside of approximately +/- 34%, providing investors an opportunity to increase the yield of a high quality asset located in on of the top rental markets of southern California.

    • General Features
      • Association Fee 0.00
      • Buyer Compensation 2.000 %
      • Community Features Sidewalks
      • County Or Parish Orange
      • Number Of Buildings 11
      • Number Of Separate Electric Meters 15
      • Number Of Separate Gas Meters 15
      • Number Of Separate Water Meters 2
      • Number Of Units Total 17
      • Subdivision Name College Park (COLP)
      • YearBuilt 1959
    • Building Features
      • Laundry Features In Kitchen
    • Property Features
      • Lot Size Acres 0.83
      • Lot Features Lot Over 40000 Sqft
      • Pool Private Y/N 0
      • Pool Features None
      • Parking Total 22.00

    Neighborhood

    92627 (Costa Mesa) Demographics

    36 Median Age
    9,789 Population Density (per sq. mile)
    45% College Educated
    $85,585 Estimated Median Income
    8,515 Estimated Total Home Owners
    13,191 Estimated Total Renters
    39% / 61% Estimated Owner / Renter Divide
    3 Estimated Average Household Size
    62,437 Total Population
    Community data courtesy of LiveBy, Inc.

    Market Last 30 Days In This Postal Code

    $957,500 Median Sales Price
    20 Homes Sold
    22 New On Market

    Average Days on Site

      Properties for Sale

        Calculations provided by Reliance Network

        Property History

        Date Event Price Percent Change
        -- New in Database Source: Multiple Listing Service New Value: $0 -100%
        11/24/2022 2:00:00 AM Sold Source: Multiple Listing Service New Value: $7,250,000
        Based on information from California Regional Multiple Listing Service, Inc. as of 11/26/2022 2:19:10 AM. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.

        Note: All room dimensions, including square footage data, are approximate and must be verified by the buyer. The information contained herein is furnished by the owner to the best of his/her knowledge but is subject to verification by the purchaser, and agent assumes no responsibility for the correctness thereof. The sale offering is made subject to errors, omissions, change of price, prior sale, or withdrawal without notice. In accordance with the Law, this property is offered without respect to race, color, creed, national origin, sex, familial status or disability. This is not intended to solicit property currently listed.