Property Detail

Description

311 W. Wilson St is a 14-unit multifamily investment property located in the desirable coastal community of Costa Mesa, CA. The property features an excellent mix of 50% - 2 bedroom / 1 bathroom and 50% - 1 bedroom / 1 bathroom units with the upstairs units featuring vaulted ceilings and large semi-private front balconies, and downstairs units feature large semi-private front patios. 311 W Wilson provides a prospective buyer the opportunity to assume an attractive 4% loan in the amount of $2,850,000 with interest only payments available until September 1st 2025, with fully amortizing 4% payments until September 1st 2027. Potential investors will also benefit from extensive exterior and interior renovations recently completed. Building renovations include all new electrical sub and main panels, copper plumbing, stucco and paint, brand new carport and garage roofs, dual paned vinyl windows(majority), rain gutters and french drains, and a refurbished main building roof. Remodeled interiors featuring quartz counter tops, new stainless steel appliances, engineered wood flooring and tile, canned lighting, ceiling fans, and cabinetry in the bathrooms. Costa Mesa is one of the strongest performing rental markets in Orange Count, with tenants benefiting from the close proximity to the beach (3 Mi), and the robust shopping and entertainment that the Costa Mesa and Newport Beach communities offer such as South Coast Plaza, Fashion Island, the Balboa Peninsula, Triangle Square, Orange Coast College, and the OC Fair & Event Center. The city of Costa Mesa’s ADU Ordinance meets the minimum state requirements. For more information, a buyer is to confirm with the city of Costa Mesa Planning Division.