2028 Wallace Ave - Apartments FOR SALE


Costa Mesa, CA 92627- Westside Costa Mesa
$2,250,000 USD
949-996-4785
2028 Wallace Ave, Costa Mesa, CA for Sale
$2,250,000 USD
Apartments - FOR SALE
1/5
null | Request Cap Rate

2028 Wallace Ave
Costa Mesa, CA 92627
Westside Costa Mesa


HIGHLIGHTS

  • Large Lot of 18,415SF
  • Located in Opportunity Zone
  • Prime Costa Mesa Location

OVERVIEW

Gould Group is pleased to present 2028 Wallace Avenue, a rare multifamily investment opportunity located in the heart of Costa Mesa’s rapidly evolving Westside. Situated on a massive 18,415 SF lot, this three-unit property features an attractive unit mix consisting of (1) 3BR/2.5BA and (2) 2BR/1BA units across approximately 2,299 SF of existing living space. Each unit includes dedicated garage parking, additional off-street parking, and the privacy of a low-density layout, making it ideal for both tenants and long-term investors. Positioned within the Mesa West Urban Plan and a federally recognized Opportunity Zone, 2028 Wallace offers significant upside potential. Investors have the opportunity to modernize the existing units, add Accessory Dwelling Units (ADUs), or redevelop the site entirely by leveraging the increased density allowances of the Mesa West Specific Plan. The Opportunity Zone designation further enhances the appeal with the potential for long-term tax advantages. Located just minutes from the beach, 17th Street, Triangle Square, South Coast Plaza, and Fashion Island, this property is ideally situated near top-tier retail, dining, and entertainment.

FOR SALE DETAILS

PRICE

$2,250,000 USD

PRICE/SF

$979 USD /SF

# OF UNITS

3

PRICE/UNIT

$750,000

CAP RATE

Request Cap Rate

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Opportunity Zone Triplex - 2028 Wallace Ave.

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1956

PARKING SPACES

15

LAND DETAILS

LAND ACRES

0.42 AC

LAND SF

18,415 SF

ZONING

R2-HD

APN/PARCEL ID

422-252-16

ASK ABOUT THIS PROPERTY

Nick GouldGould Group Investment Real EstateMore Info
949-996-4785

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Nick GouldGould Group Investment Real EstateMore Info
949-996-4785

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.