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Listed by Tyler Leeson, DRE #01451551 • Marcus & Millichap RE Invest
$ 4,650,000
Est. payment /mo
Contingent
383 W Wilson ST Costa Mesa, CA 92627
UPDATED:
Key Details
Property Type Commercial
Listing Status Contingent
Purchase Type For Sale
MLS Listing ID CROC26201829
Year Built 1965
Source California Regional MLS
Property Description
383 West Wilson Street is a 12-unit multifamily investment property located in Costa Mesa, California. Situated on approximately 0.43 acres, the property features a unit mix of 10 one-bedroom units and 2 two-bedroom units and combines a substantially renovated existing asset with significant additional unit development potential. Central to the investment opportunity is the approval to convert existing garage space into 5 studio Accessory Dwelling Units (ADUs), totaling approximately 2,045 square feet. Construction of the approved ADUs has not yet commenced, providing new ownership the opportunity to complete the conversions and increase the property from 12 to 17 units, a roughly 42% increase in rentable unit count. The approved conversions create a defined path to expand the property's income-producing capacity within the existing site. Importantly, this development upside is paired with substantial improvements to the existing 12 units. All units have been renovated with upgrades including quartz countertops, updated appliances and bathrooms, fresh paint, and vinyl and carpet flooring. With the existing interiors already improved, future investment can be focused on completion of the approved ADUs rather than a property-wide interior renovation program. 383 West Wilson Street
Location
State CA
County Orange
Area C2 - Southwest Costa Mesa
Interior
Laundry Community Facility
Exterior
Garage Spaces 22.0
Pool None
Building
Lot Description Grade - Level
Water District - Public
Others
Tax ID 41903204
Special Listing Condition Not Applicable , Accepting Backups
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