Under Contract
631 Shalimar Drive
Costa Mesa CA, 92627
$1,600,000
$526.66 per sqft
Under Contract
3,038 sqft
Multi-family
Built in 1957
Listed by Justin White with Justin White 714-231-2537
Coastal apartments have long been a favored choice among real estate investors due to their promising appreciation rates and strong
rental income potential. In this regard, Costa Mesa has emerged as an increasingly attractive option, propelled by factors such as
gentrification, substantial growth, the general appeal of renting among young professionals, and its proximity to the thriving real estate
markets of Newport Beach and Huntington Beach.
The subject property is less than a quarter mile to Eastside Costa Mesa, the bustling retail hub on 17th Street, and the 55 freeway.
Additionally, the property is located approximately 1.25 miles from the Pacific Coast Highway (PCH). There are four large sized 1-bedroom 1-
bath units in well-maintained condition. Among the appealing aspects of this property is its adjacency to a variety of retail establishments,
including PetSmart, Trader Joe's, O'Reilly's Auto Parts, and Walgreens, thereby enriching the overall quality of life needed for its 1-bedoom
renting tenants.
Considering its prime location, substantial rental growth potential, and the prospect of securing excellent tenants, this property stands as a
valuable addition to an investor's expanding portfolio or as an ideal starting point for someone entering the real estate market.
PW24047406
MLSⓇ ID
February 26, 2024
Listed
April 3, 2024
Updated
Map
631 Shalimar Drive
Costa Mesa CA, 92627
Interior Features
Total Stories
2
Laundry Description
None
Fireplace
No
Cooling
No
Heating
No
Exterior/Building Features
Lot Size
0.14 Acres
Lot Features
2-5 Units/Acre, Back Yard, Front Yard
Sewer
None
Other Property Details
Area Name
699 - Not Defined
Days on Market
26
Garage
Yes
Garage Spaces
4
Parking
Door-Single, Garage
Parking Total
4
View
No
County
Orange
Water Source
Public
Pool
No
Pool Features
None
Buyer Agency Compensation
3%
Listing History
Date | Event | Price |
---|---|---|
4/3/2024 | Under Contract | — |
Listing Contact: 714-231-2537
Based on information from the California Regional Multiple Listing Service (CRMLS) as of 4/3/2024. 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, the 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. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. Any offer of compensation is made only to participants of the MLS where the listing is filed.
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Data last updated on 4/3/2024 at 11:12 PM UTC