Coriander Drive is a rare four-unit investment opportunity located on the spice streets in the highly sought-after Mesa Verde neighborhood of Costa Mesa. The property features an exceptional unit mix consisting of one spacious three-bedroom unit and three well-designed two-bedroom units, catering to a broad tenant base seeking larger floor… Read More plans with units ranging from 1000-1600 sqft. in one of Orange County’s most desirable rental markets. The property has been well maintained and benefits from recent exterior improvements, including upgrades staircases, new windows, new tankless water heater, allowing a new owner to capitalize on a stable in-place income stream while continuing to enhance the asset over time. Positioned on a generous lot with seven on-site parking spaces, the property offers an amenity that is increasingly valuable in the Costa Mesa market. With below-market rents, investors have the opportunity to achieve meaningful rental upside as units naturally turn over, creating the potential for increased cash flow and long-term appreciation. Read Less
Listing Snapshot
Days Online
28
Last Updated
Property Type
Apartment
Lot Size
0.18 Acres
Year Built
1965
MLS Number
PW26163488
Additional Details
Building
Built in 1965, 1 building, 2 stories, Entry level: 1, Entry location: 1
Community
Sidewalks
Expenses
Operating: $40,657
Garage
5 spaces
Income
Gross Income: $121,114, Gross ScheduledIncome: $124,860, Net Operating Income: $80,457
Based on information from California Regional Multiple Listing Service, Inc. as of and/or other sources. 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.
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