2350 Santa Ana Avenue

Costa Mesa, CA 92627

$4,500,000
Price
3
Beds
10
Baths
4,427 Sq. Ft.
$1,016 / Sq. Ft.
4,427
Sq. Ft.
$1,016
per Sq. Ft.

Description

Introducing 2350 Santa Ana Ave, a six-unit apartment complex in Eastside Costa Mesa, CA. Built in 1963 and renovated in 2023-2024, the property blends modern comforts with classic charm on an 18,061 sq. ft. lot. It features a mix of one-, two-, and two-bedroom + den units with private outdoor spaces. Three units have been fully upgraded with new electrical and plumbing systems, energy-efficient windows, split HVAC units, premium flooring, custom cabinetry, designer bathrooms, and stainless steel...Introducing 2350 Santa Ana Ave, a six-unit apartment complex in Eastside Costa Mesa, CA. Built in 1963 and renovated in 2023-2024, the property blends modern comforts with classic charm on an 18,061 sq. ft. lot. It features a mix of one-, two-, and two-bedroom + den units with private outdoor spaces. Three units have been fully upgraded with new electrical and plumbing systems, energy-efficient windows, split HVAC units, premium flooring, custom cabinetry, designer bathrooms, and stainless steel appliances. The remaining three units will be similarly renovated before closing, making the property turnkey. Currently master leased through October 2025, the property generates $25,000 per month, offering a 5.50% cap rate with minimal owner obligations. Additionally, it holds future potential with an approved plan for five 1,700 sq. ft. condominium units. Whether continuing the lease, repositioning as multifamily, or redeveloping, 2350 Santa Ana Ave offers multiple paths to long-term value creation.
  1. Listed by Tyler Leeson • DRE #01451551 • Brokerage DRE #00530854 • Marcus & Millichap RE Invest • tleeson@marcusmillichap.com
  2. Listed by WMichael Cavner • DRE #01274709 • Brokerage DRE #01274709 • William Michael Cavner, Broker

Property Details for 2350 Santa Ana Avenue

Parking Spaces Total
9
Private Pool
No
Total Units
6.0
Building Type
Detached
Lot Size Source
Assessor
Living Area
4427
Assessor Parcel Number
439-231-15
Property Attached YN
false
LISTING UPDATED: 09/27/2024 07:06 AM

Property Details for 2350 Santa Ana Avenue

StatusActive
MLS #OC24175525
Days on Market90
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1963
CountyOrange County

Building Information for 2350 Santa Ana Avenue

Building/Complex2350 Santa Ana AveFloor-Stories1Residences-Pet Policy-Year Built1963Building Size-

Property Information for 2350 Santa Ana Avenue

Income / Expense / Tax Details
Income Details
  • Gross Income: $300,000
  • Gross Scheduled Income: $300,000
  • Net Operating Income: $247,505
Expense Details
  • Operating Expense: $52,496
  • New Taxes Expense: $47,174
  • Fuel Expense: $0
  • Electric Expense: $0
  • Insurance Expense: $0
  • Professional Management Expense: $0
  • Trash Expense: $0
  • Water Sewer Expense: $0
  • Total Expenses: $52,496
Tax / Assessment Info
  • Tax Tract Number: 300
  • Tax Census Tract: 631.03
  • CFD/Mello-Roos Fee: $3,822
  • Tax Lot: 106
Community / Development
Community / Development
  • Community Features: Curbs, Gutters, Sidewalks
Property / Structure Info
Interior Features
  • Laundry: Yes
  • Laundry Features: Dryer Included, Washer Included
Exterior Features
  • Entry Location: First level
  • Pool Features: None
  • Pool Description: None
  • Pool: N/K
Land/Lot Info
  • Lot Features: Level with Street
  • Number Of Units: 6
  • Land Lease: No
  • Land Lease Type: Fee
  • Topography: Level
  • Levels: One
  • Water: Public
  • Sewer: Public Sewer
  • Water Source: Public
Parking Info
  • Garage Spaces: 4
  • Uncovered Spaces: 5
  • Open Other Spaces Total: 5
  • Parking Garage Spaces: 4
  • Carport Spaces: 0
Property / Structure Info
  • Builders Tract Name: Other
  • Builders Tract Code: Other (OTHR)
Unit Information
Unit 1
  • Unit Type Units Total: 2
  • Unit Type Beds Total: 1
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 2
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $0
  • Unit Type Total Rent: $0
  • Unit Type Pro Forma: 4800
  • Unit Type Type: 1
Unit 2
  • Unit Type Units Total: 4
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 2
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 2
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $0
  • Unit Type Total Rent: $0
  • Unit Type Pro Forma: 16400
  • Unit Type Type: 2
Unit Information
  • Rent Controlled: No
  • Number Of Buildings: 4
  • Number Of Separate Electric Meters: 6
  • Number Of Separate Gas Meters: 6
  • Number Of Separate Water Meters: 1

Property History for 2350 Santa Ana Avenue

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 2350 Santa Ana Avenue

Taxable ValueLand$2,971,383Additions$212,241Total$3,183,624
Tax Record2024$37,614 ($3,134 / month)
Home Facts
Total Finished SqFt4,327 SqFtAbove Grade Finished SqFt4,327 SqFtLot Size18,061 SqFtStyleMulti-Family Res (5+ Units)Year Built1963CountyORANGEAPN439-231-15

Schools near 2350 Santa Ana Avenue

This home is within Newport-Mesa Unified School District.
Rating
School
Type
Grades
Distance
Public - K to 2
Public - 3 to 6
Public - 7 to 8
Public - 9 to 12
Rating
School
Distance
Woodland Elementary School
PublicK to 2

Heinz Kaiser Elementary School
Public3 to 6

Horace Ensign Intermediate School
Public7 to 8

Newport Harbor High School
Public9 to 12

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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2350 Santa Ana Avenue is a multi-family home for sale in Costa Mesa, CA 92627. This property was listed for sale on August 23, 2024 by Marcus & Millichap RE Invest, it's currently listed at $4,500,000. It has been on the market for a total of 90 days and was last sold on May 16, 2021. This listing's school district is Newport-Mesa Unified School District. Nearby schools include Woodland Elementary School, Heinz Kaiser Elementary School and Horace Ensign Intermediate School. 2350 Santa Ana Avenue is a 3-bed, 10-bath, 4,427 sqft multi-family home built in 1963.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Marcus & Millichap RE Invest, Tyler Leeson, DRE #01451551; William Michael Cavner, Broker, WMichael Cavner, DRE #01274709

Based on information from one of the following Multiple Listing Services: CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.