988 El Camino, Costa Mesa, CA, CA 92626
- $3,300,000
- List Price
- $3,300,000
- Status
- ACTIVE
- MLS#
- OC26230822
- County
- Orange
- Year Built
- 1964
- Building Square Feet
- 5,343
- Square Feet
- 6,719
- Days on Market
- 2
- Property Type
- Multifamily
- Style
- Modern
- Stories
- Two Levels
- Neighborhood
- Mesa Del Mar
Property Description
Offered at $3,00,000, this 6-unit multifamily property in Costa Mesa provides a strong turn-key opportunity in a supply-constrained market. Originally constructed in 1964 as a 4-plex, the building was expanded in the past year with the addition of two brand-new ADUs completed in 2026. The property now totals 5,267 SF and has been extensively renovated with over $945,000 in recent improvements, including modern unit interiors and durable finishes. The unit mix includes studio, one-, two-, and three-bedroom layouts, designed to capture a wide range of tenant demand. With current rents already strong and additional upside available, investors can benefit from both immediate income and long-term appreciation. Located near South Coast Plaza, The Camp, and major transportation corridors, the property combines stable tenant demand with proven rental performance, making for a strategic investment in a highly sought-after Orange County submarket.
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Additional Information
- Parcel Number
- 14166431
- Gross Scheduled Income
- $245,328
- Operating Expense
- 50861
- Net Operating Income
- $182,201
- Number of Buildings
- 2
- Lot Features
- 21-25 Units/Acre, Rectangular Lot
- Appliances
- Convection Oven, Dishwasher, Disposal, Microwave
- Utilities
- Electricity Connected, Natural Gas Connected, Water Connected
- Heat
- Central, Ductless
- Cooling
- Yes
- View
- Neighborhood
- Exterior Construction
- Frame, Glass
- Roof
- Shingle
- Garage Spaces Total
- 4
- Sewer
- Public Sewer
- Water
- Public
- Community Features
- Biking, Golf, Park
Listing courtesy of Listing Agent: John Allen (johnclydeallen@gmail.com) from Listing Office: Seven Gables Real Estate.
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Based on information from California Regional Multiple Listing Service, Inc. as of . 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.