$1,550,000
$1,629,000
4.8%For more information regarding the value of a property, please contact us for a free consultation.
6 Beds
5 Baths
2,576 SqFt
SOLD DATE : 10/01/2024
Key Details
Sold Price $1,550,000
Property Type Multi-Family
Listing Status Sold
Purchase Type For Sale
Square Footage 2,576 sqft
Price per Sqft $601
MLS Listing ID 24404525
Sold Date 10/01/24
Bedrooms 6
HOA Y/N No
Year Built 1972
Lot Size 7,021 Sqft
Property Description
Welcome to 2280 Pamela Lane, an exceptional coastal Orange County tri-plex. This property is conveniently located in the heart of the Newport-Mesa area with easy access to the world-class beaches of Newport and Huntington Beach, both just minutes away. This multi-family is also in close proximity to local schools, shopping, retail, top tier dining and entertainment options, as well as amazing parks with miles of bike and hiking trails. Located on a large 7,022 sq ft. corner lot with swaying palms and mature landscaping, this property gives off the vibe of a Hawaiian vacation home. It features an excellent unit mix of 3 spacious units. The front unit has #A) 3 bedrooms and 2 baths, with a large private patio and living room fireplace. Unit #B) 1 bedroom and 1 bath with an enclosed patio. Unit #C) 2 bedrooms and 2 baths with enclosed patio, and beamed vaulted ceilings. Each unit has a separate one car garage for storage or parking. There is also off-street parking for an additional 3-4 cars. The current long-term tenants are all on month-to-month leases renting at below market rates. The value-add opportunity is in renovating the units and bringing rents up to market rates. Strategic improvements would add significant value to this income property in this rapidly appreciating Costa Mesa submarket.
Location
State CA
County Orange
Area C2 - Southwest Costa Mesa
Zoning R 2
Interior
Heating Combination
Cooling None
Fireplaces Type Living Room
Fireplace Yes
Laundry Common Area
Exterior
Parking Features Assigned, Door-Multi, Garage, Private
Garage Spaces 3.0
Garage Description 3.0
Attached Garage No
Total Parking Spaces 6
Building
Lot Description Landscaped
Faces West
Story 2
Entry Level Two
Architectural Style Contemporary
Level or Stories Two
New Construction No
Schools
School District Newport Mesa Unified
Others
Senior Community No
Tax ID 42237222
Special Listing Condition Standard
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Bought with Drew Teicheira • Harcourts Place