735 Joann Street

43

Four Seasons is a rare 23-unit multi-family, townhouse investment offering, well located in the City of Costa Mesa. Comprised entirely of large, two bedroom / one and one-half bathroom townhouse style units, each apartment features gas forced air heating, one covered parking space, one open space, washers & dryers in select units, and access to a large central courtyard with a pool. The configurations of the 4-building courtyard-style property exterior, and the large townhouse unit interiors, provide a new owner the opportunity to simply stabilize the existing revenue stream or potentially implement a comprehensive renovation program that will lead to top-market rents. The unit-count, physical attributes, and micro-location of this property will remain attractive to tenants and investors alike for many years to come. Salient Features ** Extremely High Demand Rental Location - 2.5 Miles from the Pacific Ocean **14.7 GIM and 4.2% Capitalization Rate at Market Income ** Very Rare Mid-size Property Offering on the Westside **100% - 2 Bedroom / 1.5 Bath Townhouse Units - 1,015 Square Feet Each ** Legitimate Value-Add Investment in a Very Supply Constrained Coastal Market
735 Joann Street, Costa Mesa, CA 92627 | Residential Income | Active Under Contract | 23403 SF | 39204 SF Lot | Built 1964 | 2 Stories | MLS# OC18191779

Offered at $9,450,000

Features

Parking Spaces: 43 | Pool: Yes | Heating : Forced Air

Meet an expert

Troy Palmquist
Agent | DRE# 01772139

805.409.3662

Based on information from California Regional Multiple Listing Service, Inc. as of October 18, 2019. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.

Listing provided by
WMichael Cavner, William Michael Cavner, Broker, Source: Local MLS