283 Avocado Street, Costa Mesa
Costa Mesa Home For Sale
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 $1.6M 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 until 2032 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.
Property Details
Additional Information
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- City:
- Costa Mesa
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- County:
- Orange
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- Zip:
- 92627
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- MLS® #:
- OC24013316
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- Bedrooms:
- 6
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- Bathrooms:
- 5
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- Lot Size:
- 0.85
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- Neighborhood:
- College Park (COLP)
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- Levels:
- Two
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- Garages:
- 13
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- HOA Dues:
- $
Price Change History for 283 Avocado Street, Costa Mesa, (MLS® #OC24013316)
| Date | Details | Price | Change |
|---|---|---|---|
| Active | – | – | |
| Active Under Contract (from Active) | – | – |
Based on information from California Regional Multiple Listing Service, Inc. as of July 22nd, 2024 at 1:45am PDT. 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.