777 W 18Th Street

Costa Mesa, CA 92627

$1,800,000

List Price

N/A

bed Beds

N/A

shower Baths

N/A sqft

straighten / sqft

1961

calendar_month Built

Property Description

Exceptional Investment Opportunity – Two detached homes on a large 9,218-square-foot parcel! Located in the rapidly appreciating West Side Costa Mesa area, this property is ideal for investors, developers, or homeowners seeking rental income. The prime property presents a promising opportunity for investors to increase income by adjusting the existing below-market lease rates to market value. The recently renovated front home has 3 bedrooms and 1 full bathroom, featuring a spacious, gated front yard. The open floor plan offers vaulted ceilings, wood flooring, and a brick fireplace, with abundant natural light streaming through skylights and windows. An independent, gated rear yard attached to this house provides the perfect space for private relaxation or entertaining. The front home is currently leased for $3,600 per month and will be vacant and available for lease in mid-November, with high interest already expressed by potential tenants. It is actively listed for lease at $3,900 per month. The rear detached home, with its own private, gated backyard, includes 4 bedrooms and 2 bathrooms. The open living room and kitchen create a seamless flow, leading to an expansive outdoor area shaded by mature trees for added privacy and tranquility. The current long-term tenant in the rear is on a month-to-month lease at $3,600 per month, while similar neighboring rentals are achieving up to $4,200 per month, highlighting potential for increased rental income. Each home has a separate laundry area, a one-car garage, and ample off-street parking. Conveniently situated near the vibrant 17th Street scene and the iconic beaches of Newport Beach, this duplex offers an outstanding opportunity for income generation and capital growth in a highly sought-after location. Zoned for multifamily development, this property presents prime development potential. Don’t miss out on this incredible opportunity!

Listing Information

List Price $1,800,000
Status Active
MLS NP24223351
HOA $0
Type Residential Income
Subtype Duplex
Year Built 1961
Lot Size 9,218
Structure Size N/A
DOM 1
Courtesy Of Arbor Real Estate
Listing Agent Stephanie Peterson DRE#01984954
Co-Listing Agent Susan Krueger DRE#02002894

Interior Features

Laundry Information
Location(s) Gas Dryer Hookup, Laundry Room, Outside
Bedroom Information
Features All Bedrooms Down, Bedroom on Main Level
Total Bedroom
Bedrooms N/A
Total Bathroom
Bathrooms N/A
Flooring Information
Material Laminate, Tile, Wood
Fireplace Information
Features Living Room, Masonry, Wood Burning
Additional Information
Additional Features Beamed Ceilings, Ceramic Counters, Cathedral Ceiling(s), Open Floorplan, Tile Counters, Unfurnished, All Bedrooms Down, Bedroom on Main Level, Walk-In Closet(s)
Cooling Type
Cooling Type None

Exterior Information

Maps

Listing information courtesy of: Stephanie Peterson, Susan Krueger, Arbor Real Estate . *Based on information from the Association of REALTORS/Multiple Listing as of Nov 2nd, 2024 at 5:45 PM and/or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.