758 West 20th Street
$1,775,000
8
4
3,384
3,384
$525
Closed 11/18/24
Description
Unlock the potential of this four-unit property in a prime Westside location of Costa Mesa! This property offers tremendous upside potential for investors looking to capitalize on below-market rents and increasing equity. Each of the four 2-bedroom, 1-bathroom units comes with its own garage, offering a desirable and convenient layout for tenants. All units are currently tenant-occupied on a month-to-month basis, presenting an incredible opportunity for the new owner to make upgrades and increase...Unlock the potential of this four-unit property in a prime Westside location of Costa Mesa! This property offers tremendous upside potential for investors looking to capitalize on below-market rents and increasing equity. Each of the four 2-bedroom, 1-bathroom units comes with its own garage, offering a desirable and convenient layout for tenants. All units are currently tenant-occupied on a month-to-month basis, presenting an incredible opportunity for the new owner to make upgrades and increase rents to market levels. With rents currently well below market value, this property is ideal for an investor looking to renovate and reposition. Inquire with the City to see if an ADU can be constructed either on top of the garage or built on the existing large 9,211 sqft lot. Market rents in the area for similar units are estimated at $2,700 per unit, giving the new owner the chance to bring the monthly gross income to over $11,000, and offers the investor a fantastic opportunity with generating a 5%+ cap rate; thereby making it an excellent addition to any real estate portfolio. Whether you’re an experienced investor or looking for your first multi-unit property, this gem of a building promises long-term growth and significant returns. Situated in a highly desirable area, close to shopping, dining, freeway and just minutes from the beach, this is a can't-miss opportunity for those seeking both cash flow and future appreciation. Whether you plan to improve and hold...or renovate and resell, the upside is undeniable. This is your chance to create significant equity while tapping into the strong rental demand in this vibrant community. This is your chance to secure a property with significant equity upside and tap into Costa Mesa’s growing rental market. Don’t miss out—opportunities like this are few and far between!
- Listed by Ramzi Ataya • DRE #01265136 • Brokerage DRE #01976469 • Engel & Voelkers Newport Beach • 714.404.0606
Property Details for 758 West 20th Street
View
None
Parking Spaces Total4
Private PoolNo
Cooling TypeN/K
Total Units4.0
Building TypeAttached
Lot Size SourceAssessor
Living Area3384
LISTING UPDATED: 11/20/2024 01:01 AM
Property Details for 758 West 20th Street
Status | Closed |
---|---|
MLS # | OC24207896 |
Days on Market | 14 |
Taxes | - |
HOA Fees | - |
Condo/Co-op Fees | - |
Compass Type | Multi Family |
MLS Type | Residential Income |
Year Built | 1972 |
Lot Size | 0.21 AC / 9,211 SF |
County | Orange County |
Building Information for 758 West 20th Street
Stories2Residences-Year Built1972Building Size-Lot Size0.21 AC / 9,211 SF
Property Information for 758 West 20th Street
Property History for 758 West 20th Street
Date | Event & Source | Price | Appreciation |
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Date | Event & Source | Price |
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For completeness, Compass often displays two records for one sale: the MLS record and the public record.
Public Records for 758 West 20th Street
Taxable ValueLand$875,317Additions$191,020Total$1,066,337
Tax Record2024$13,084 ($1,090 / month)
Home Facts
Total Finished SqFt3,384 SqFtAbove Grade Finished SqFt3,384 SqFtLot Size9,211 SqFtStyleMulti-Family Dwelling (2-4)Year Built1972CountyORANGEAPN422-281-19
Schools near 758 West 20th Street
This home is within Newport-Mesa Unified School District.
Rating | School | Type | Grades | Distance |
---|---|---|---|---|
Public - | K to 6 | |||
Public - | 7 to 8 | |||
Public - | 9 to 12 | |||
Public - | K to 6 |
Rating | School | Distance |
---|---|---|
Pomona Elementary School PublicK to 6 | ||
Charles W. Tewinkle Middle School Public7 to 8 | ||
Estancia High School Public9 to 12 | ||
Maude B. Davis Elementary School PublicK to 6 |
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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