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Listed by Scott Gerard, DRE #01004111 • Gerard Properties Inc.
$ 3,190,000
Est. payment /mo
New
1920 Wallace AVE Costa Mesa, CA 92627
0.42 Acres Lot
UPDATED:
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
MLS Listing ID CROC26133275
Year Built 1960
Lot Size 0.423 Acres
Source California Regional MLS
Property Description
Rare opportunity to acquire a pride-of-ownership 8-unit investment property in the highly sought-after Westside Costa Mesa rental market, offered for sale for the first time in more than 25 years. Near 19th Street and Placentia Avenue, this well-maintained asset offers a combination of strong in- place income, stable occupancy, and long-term upside in one of Orange County's most desirable coastal submarkets. The property benefits from an exceptional location, placing residents within minutes of popular restaurants, breweries, coffee shops, shopping, beaches, and outdoor recreation. Convenient access to the 55 Freeway provides direct connectivity to Newport Beach, John Wayne Airport, major employment centers, and the greater Orange County transportation network, making the property highly attractive to a broad tenant base. The asset consists of two separate fourplex buildings comprising a total of eight 1 bedroom units. Each building features two upstairs and two downstairs residences. Three of the ground-floor units enjoy private enclosed yards or patios surrounded by white picket fencing and landscaping, creating a residential feel and highly desirable outdoor living spaces rarely found. The property is secured by a gated pedestrian entrance and remote-controlled vehicle gate.
Location
State CA
County Orange
Area C2 - Southwest Costa Mesa
Interior
Laundry Gas Hookup, 30
Exterior
Garage Spaces 15.0
Pool None
Building
Water District - Public
Others
Tax ID 42226219
Special Listing Condition Not Applicable
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