283 Avocado Street, Costa Mesa (92627)
$12,000,000
0 
0
14,159
PROPERTY DETAILS
| Address: |
view address Costa Mesa, CA 92627 Map Location |
Features: | Garage, Multi-level |
|---|---|---|---|
| Square Feet: | 14,159 sq.ft. | Lot Size: | 0.85 acres |
| Year Built: | 1973 | Property Type: | Apartment |
| Neighborhood: | College Park (Colp) | County: | Orange |
| List Date: | 2024-01-22 | Listing Number: | OC24013316 |
| Listed By: | Marcus & Millichap RE Invest | Listing Office: | 714-713-9086 |
PROPERTY DESCRIPTION
Legitimate turnkey multifamily investment property offering a range of one-, two-, and three-bedroom loft-style floor plans. Substantial investment was made in 2023 and 2024, with over $1.7M in interior and exterior capital improvements. 100% of the interiors are fully renovated, including all new appliances, cabinets/counters, new electrical panels, flooring, painting and drywall, and all new windows and doors. Common area improvements include the roofs, painting, termite & pest mitigation, and tenting of the entire structure, exterior wood, decking, all new stairs and railings, all new asphalt, hardscape/softscape, mailboxes, plumbing, house electrical panels, and garage doors. ABOVE ALL, the debt component sets this project apart from nearly all other investments within the marketplace. Available to assume is a private note with a 50% LTV and interest-only payments for nine years, starting at 3.5%, with a cap at 5.0%, resulting in a blended interest rate of 4.61% over the term. This equates to an initial cash-on-cash return of over 4% with a down payment of $6,000,000-no appraisal required, no points for the loan assumption, COE in 30 days or less.
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Exterior
| Community Swimming Pool(S): | Yes | Garage Size: | 13.00 |
| Parking Spaces: | 38.00 | Two Car Carport: | Yes |
Property and Lot Details
| Level Lot: | Yes | Lot Acres: | 0.85 |
| Lot Number: | 42.00 | Lot Sqft: | 37,026.00 |
| Public Sewer: | Yes | Public Water: | Yes |
| Subdivision: | College Park (COLP) | Transaction Type: | Sale |
| Year Built: | 1973 |
Community information and market data Powered by Onboard Informatics. Copyright ©2024 Onboard Informatics. Information is deemed reliable but not guaranteed.
This information is provided for general informational purposes only and should not be relied on in making any home-buying decisions. School information does not guarantee enrollment. Contact a local real estate professional or the school district(s) for current information on schools. This information is not intended for use in determining a person’s eligibility to attend a school or to use or benefit from other city, town or local services.
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Community information and market data Powered by Onboard Informatics. Copyright ©2024 Onboard Informatics. Information is deemed reliable but not guaranteed.
This information is provided for general informational purposes only and should not be relied on in making any home-buying decisions. School information does not guarantee enrollment. Contact a local real estate professional or the school district(s) for current information on schools. This information is not intended for use in determining a person’s eligibility to attend a school or to use or benefit from other city, town or local services.
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Community information and market data Powered by Onboard Informatics. Copyright ©2024 Onboard Informatics. Information is deemed reliable but not guaranteed.
This information is provided for general informational purposes only and should not be relied on in making any home-buying decisions. School information does not guarantee enrollment. Contact a local real estate professional or the school district(s) for current information on schools. This information is not intended for use in determining a person’s eligibility to attend a school or to use or benefit from other city, town or local services.
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