Single Family Residence, Ranch - Costa Mesa, CA
UPGRADED, 2 HOMES ON ONE LOT CASH COW WITH 5.4% CAP RATE! Rare 2 single family detached homes with each having 4 bed 3 baths on one lot. Both units are approximately 1750 sq. ft. both have actual 4 beds 3 full baths on an 11,700 sq. ft. lot. Front unit has been repainted, newer stainless steel appliances with granite counters in kitchen, baths are good condition with tiled and wood flooring, dual paned windows, and a 3 car attached garage. Rear unit was just completely updated and upgraded with new laminate wood floors, all new remodeled bathrooms, new neutral paint, dual paned windows, and 3 reserved parking spaces. Currently rented to a commercial tenant who has both units at $8800 per month, lease expires in September, 2018. The pro forma for this property could raise the rents to approximately $15K per month, call for details. Side & back yard great for entertaining. Long driveway for plenty of parking. Upgraded 100 Amp electric meter, copper plumbing in both homes. 2 separate addresses & all separate utility meters incl 2 hwater meters. Great location & close to Costa Mesa Country Club, DMV, medical facilities, schools, local eateries, and great parks. Easy access to freeway 55, 73, & 405. Zone R2 Medium Density. Potential to build 3rd unit. Buyers to verify with city. Buyer's must cooperate with Seller's 1031 exchange.