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Rick Lee

rickjleehomes@gmail.com +1(714) 943-1598

$ 4,620,000

Est. payment -/mo

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Active

383 W Wilson ST Costa Mesa, CA 92627

7,920 SqFt

UPDATED:

10/15/2024 05:45 PM

Key Details

Property Type Condo

Sub Type Apartment

Listing Status Active

Purchase Type For Sale

Square Footage 7,920 sqft

Price per Sqft $583

Subdivision ,Other

MLS Listing ID OC24096600

HOA Y/N No

Year Built 1965

Lot Size 0.430 Acres

Acres 0.43

Property Description

383 West Wilson Street is a 12-unit multifamily investment property located in Costa Mesa, California. The property offers a mix of 10, one-bedroom units and 2, two-bedroom units. All units have undergone substantial renovations that include fresh paint, vinyl and carpet flooring, quartz countertops, appliances, bathrooms, and more. Amenities at 383 West Wilson Street include ample garage and surface parking, and an on-site laundry facility. Residents benefit from 383 West Wilson Street’s excellent Costa Mesa location, within walking distance of a plethora of major retail centers. Located just steps away from the property are Gray Plaza, anchored by At Home, and Harbor Center, anchored by Home Depot and the newly opened Mercado Gonzalez Northgate Market. Additionally, the property is situated less than one-mile from Orange Coast College (OCC) and the O.C. Fairgrounds, two major housing and economic drivers for the area. Furthermore, the property’s location, between Harbor Boulevard and State Route 55, provides residents with easy access to Costa Mesa hotspots including Triangle Square, 17th Street, and South Coast Plaza. The property benefits from its close proximity to State Routes 55 and 73, convenient access to major employment hubs including the South Coast Metro, Irvine Business District, and Newport Center. The Costa Mesa submarket is among the strongest performing areas in metro Orange County, with an average occupancy of 96.5 percent (Q4 2023) and average year-over-year effective rent growth of 8.9 percent (between 2021 to 2023), demonstrating the strong demand for rental housing. Costa Mesa’s coastal location, strong economic growth, and unmatched local attractions have made it one of Southern California’s most desirable and versatile markets. Given its Coastal Orange County location, the property offers an investor the ability to capture quality tenants seeking a convenient location with access to a wide variety of area amenities. This overall demand for well-located apartments will be a key driver in the continued growth at 383 West Wilson Street.

Location

State CA

County Orange

Area C2 - Southwest Costa Mesa

Rooms

Ensuite Laundry Common Area

Interior

Laundry Location Common Area

Fireplace No

Laundry Common Area

Exterior

Garage Spaces 13.0

Garage Description 13.0

Pool None

Community Features Curbs, Gutter(s), Sidewalks

Total Parking Spaces 23

Private Pool No

Building

Lot Description Street Level

Story 2

Entry Level Two

Sewer Public Sewer

Water Public

Level or Stories Two

New Construction No

Others

Senior Community No

Tax ID 41903204

Energy Description 5866.0

Acceptable Financing Cash, Cash to New Loan, 1031 Exchange

Listing Terms Cash, Cash to New Loan, 1031 Exchange

Special Listing Condition Standard

Listed by Tyler Leeson • Marcus & Millichap RE Invest • tleeson@marcusmillichap.com

Rick Lee

Team Leader | License ID: 02130981

+1(714) 943-1598

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Rick Lee

Rick Lee

383 W Wilson ST Costa Mesa, CA 92627

Key Details

Location

Rooms

Interior

Exterior

Building

Others

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383 W Wilson ST