Property Description
Legitimate turnkey multifamily investment property offering a range of one-, two-, and three-bedroom loft-style floor plans. Substantial investment was made in 2023 and 2024, with over $1.8M in interior and exterior capital improvements. 100% of the interiors are fully renovated, including all new appliances, cabinets/counters, new electrical panels, flooring, painting and drywall, and all new windows and doors. Common area improvements include the roofs, painting, termite & pest mitigation, and tenting of the entire structure, exterior wood, decking, all new stairs and railings, all new asphalt, hardscape/softscape, mailboxes, plumbing, house electrical panels, and garage doors. ABOVE ALL, the debt component sets this project apart from nearly all other investments within the marketplace. Available to assume is a private note with a 51% LTV and interest-only payments until 2032 starting at 3.5%, with a cap at 5.0%, resulting in a blended interest rate of 4.61% over the term. This equates to an initial cash-on-cash return of over 4.5% with a down payment of $5,800,000—no appraisal required, no points for the loan assumption, COE in 30 days or less.
Features
: Community, Fenced
: No
: No
: No
: No
: 38
: No
Address Map
U.S.
California
Orange
Costa Mesa
92627
283 Avocado Street
0
W118° 5' 20.4''
N33° 39' 14.2''
MLS Addon
$0
14,159 Sqft
: No
: No
4
12
225
Cross Streets of Avocado Street and Fairview Road
13
: No
2
scavnwmi

Residential Income For Sale Costa Mesa

283 Avocado Street, Costa Mesa, Orange, California, 92627

37,026 Acre
Visits : 11 in 242 days
$11,800,000
Listing ID #OC24013316
Basic Details
Property Type : Residential Income
Listing Type : For Sale
Listing ID : OC24013316
Price : $11,800,000
Year Built : 1973
Lot Area : 37,026 Acre
Status : Active
Property Sub Type : Apartment
Agent info
Damian M. Ramirez
Damian M. Ramirez
  • 01974515
  • 1213238
  • PWDAMRA
Broker
Broker
A level-headed and composed professional.  Combat veteran and experienced CEO with the ability to train and motivate staff to meet challenging performance targets and consistently satisfy clients with high-quality service.
Contact Agent
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