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2354 Santa Ana Avenue

Costa Mesa, CA 92627
  • $8,925,000
  • STATUS: Active
  • ON SITE: 22 Days
  • ID#: PW22237455
UPDATED: 30 min ago
$8,925,000
  • 0
    BEDS
  • 0.83
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Multi-Family
Built:
1971
County:

School Ratings & Info

Listing Agent(s): Peter Gillin of Morgan Skenderian (949-251-8800)


Description

Candy Lanai Apartments is located in the beautiful community of Eastside Costa Mesa. The Newport Back Bay is less than 1/2 mile away, as well as the charming shops and restaurants along E. 17th St. The subject property is being offered to the market for the first time ever. Candy Lanai Apartments offers the new owner a rare opportunity to own a trophy, single story asset in an incredible Eastside Costa Mesa location. The subject property offers over50% rental upside and the opportunity to dramatically increase cash flow.*Note: Seller prefers close of escrow date after 1/1/2023.

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Based on information from California Regional Multiple Listing Service, Inc. as of 2022-12-01T12:33:21.5. 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 deemed reliable but is not guaranteed accurate by the MLS or Better Living SoCal. Licensed in the State of California, USA.
www.betterlivingsocalhomes.com/homes/134633736
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2354 Santa Ana Avenue Costa Mesa, CA 92627

  • Price: $8,925,000
  • Status: Active
  • On Site: 22 Days
  • Updated: 30 min ago
  • ID#: PW22237455
0
Beds
0
Baths
0
½ Baths
0.83
Acres
1971
Built
Neighborhood:
Other (Othr)
County:
Orange
Area:
C5 - East Costa Mesa
Property Description
Candy Lanai Apartments is located in the beautiful community of Eastside Costa Mesa. The Newport Back Bay is less than 1/2 mile away, as well as the charming shops and restaurants along E. 17th St. The subject property is being offered to the market for the first time ever. Candy Lanai Apartments offers the new owner a rare opportunity to own a trophy, single story asset in an incredible Eastside Costa Mesa location. The subject property offers over50% rental upside and the opportunity to dramatically increase cash flow.*Note: Seller prefers close of escrow date after 1/1/2023.
Exterior Features

Lot Features 11-15 Units/Acre Number Of Separate Electric Meters 15 Open Parking Spaces 11 Parking Features Garage Parking Total 25 Pool Features None Pool Private YN No Property Attached YN Yes Spa Features None Spa YN No

Interior Features

Common Walls 1 Common Wall Fireplace Features Living Room Fireplace YN Yes Interior Features High Ceilings

Property Features

Additional Parcels YN No Cap Rate 1.9 Common Interest None Community Features CurbsGutter(S)Sidewalks Electric Expense 4916 Garage YN Yes Gross Income 0 Gross Scheduled Income 329700 Insurance Expense 3840 Land Lease YN No Laundry Features Common Area Levels One Listing Agreement Exclusive Right To Sell Listing Service Full Service Listing Terms Cash To New Loan Maintenance Expense 23079 Net Operating Income 172814 New Construction YN No New Taxes Expense 98173 Number Of Separate Gas Meters 15 Number Of Separate Water Meters 1 Number Of Units Leased 15 Operating Expense 146996 Possession Close Of Escrow Property Sub Type Mixed Use Rent Control YN No Senior Community YN No Sewer Public Sewer Special Listing Conditions Standard Tenant Pays ElectricityGas Total Actual Rent 327300 Trash Expense 4916 Utilities Cable AvailableElectricity ConnectedNatural Gas ConnectedPhone AvailableSewer ConnectedWater Connected Vacancy Allowance 9891 Vacancy Allowance Rate 3 Water Sewer Expense 4916 Water Source Public



Based on information from California Regional Multiple Listing Service, Inc. as of 2022-12-01T12:33:21.5. 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 deemed reliable but is not guaranteed accurate by the MLS or Better Living SoCal. Licensed in the State of California, USA.
 
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Better Living SoCal
250 El Camino Real #104
Tustin CA, 92780
Listing Agent(s): Peter Gillin of Morgan Skenderian (949-251-8800)