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$4,650,000

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0.43 Acres Lot

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383 W Wilson ST Costa Mesa, CA 92627

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Katrina Smith

katrina@pinpointproperties.com +1(949) 209-9004

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Key Details

Property Type Other Types

Sub Type Apartment

Listing Status Active

Purchase Type For Sale

MLS Listing ID OC26201829

HOA Y/N No

Year Built 1965

Lot Size 0.430 Acres

Property Sub-Type Apartment

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 also benefits from a sizable site and an attractive collection of resident amenities. The property provides 22 parking spaces, including 13 garage and 9 surface spaces, along with gated access, an on-site laundry facility, security doors, and a spacious central courtyard. The property is positioned near a dense collection of Costa Mesa amenities and demand drivers, with retail along Harbor Boulevard, Orange Coast College, the OC Fair & Event Center, and neighborhood recreation all nearby. Its location between Harbor Boulevard and State Route 55 provides convenient connectivity throughout Costa Mesa and to surrounding employment centers. Together, the property's renovated existing units, approved 5-unit ADU expansion and strong Costa Mesa location create a compelling combination of current quality and meaningful future upside.

Location

State CA

County Orange

Area C2 - Southwest Costa Mesa

Interior

Fireplace No

Laundry Common Area

Exterior

Garage Spaces 13.0

Garage Description 13.0

Pool None

Community Features Curbs, Gutter(s), Street Lights, Sidewalks

Total Parking Spaces 22

Private Pool No

Building

Lot Description Street Level

Story 2

Sewer Public Sewer

Water Public

New Construction No

Others

Senior Community No

Tax ID 41903204

Energy Description 7408.0

Acceptable Financing Cash, Cash to New Loan, Conventional, 1031 Exchange

Listing Terms Cash, Cash to New Loan, Conventional, 1031 Exchange

Special Listing Condition Standard

Lease Land No

CRMLS Full IDX Feed (MAIN Website Search)

Listed by Tyler Leeson Marcus & Millichap RE Invest tleeson@marcusmillichap.com, DRE #01451551

NEARBY SCHOOL & BUSINESS

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Katrina Smith

Agent DRE#01740623

+1(949) 209-9004

383 W Wilson ST Costa Mesa, CA 92627

Katrina Smith

Key Details

Location

Interior

Exterior

Building

Others

NEARBY SCHOOL & BUSINESS

GET MORE INFORMATION

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