311 W Wilson St - Apartments FOR SALE


Costa Mesa, CA 92627- Westside Costa Mesa
$5,700,000 USD
949-887-2465
311 W Wilson St, Costa Mesa, CA for Sale
$5,700,000 USD
Apartments - FOR SALE
1/10
null | 4.53% Cap Rate

311 W Wilson St
Costa Mesa, CA 92627
Westside Costa Mesa


HIGHLIGHTS

  • Assumable 4% Financing
  • Significant exterior and interior renovations have been made since 2022
  • Excellent mix of 50% - 2 bedroom / 1 bathroom and 50% - 1 bedroom / 1 bathroom units.
  • ADU Potential
  • Upside in Rental Income (~15%)
  • Upgraded Sub-Panels

OVERVIEW

311 W. Wilson St is a 14-unit multifamily investment property with 4% assumable financing located in the desirable coastal community of Costa Mesa, CA. The property features an excellent mix of 50% - 2 bed/ 1 bath and 50% - 1 bed / 1 bath units with the upstairs units featuring vaulted ceilings and large semi-private front balconies, and downstairs units feature large semi-private front patios. The assumable loan 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 panels, stucco and paint, brand new carport and garage roofs, dual paned vinyl windows, 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.

FOR SALE DETAILS

PRICE

$5,700,000 USD

PRICE/SF

$565 USD /SF

# OF UNITS

14

PRICE/UNIT

$407,143

CAP RATE

4.53%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

14u Costa Mesa | 4% Assumable Debt

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1960

PARKING SPACES

23

LAND DETAILS

LAND ACRES

0.48 AC

LAND SF

21,005 SF

ZONING

-

APN/PARCEL ID

419-061-08

ASK ABOUT THIS PROPERTY

Brett BaylessThe Mogharebi GroupMore Info
949-887-2465

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Brett BaylessThe Mogharebi GroupMore Info
949-887-2465

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