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741 W 18Th Street

Costa Mesa, CA 92627

$1,600,000

List Price

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1960

calendar_month Built

Property Description

Exclusive Coastal Investment Opportunity – First Time on the Market Since 1996! Unlock the potential of coastal living with this exciting opportunity by the beach! Coastal apartments have consistently demonstrated exceptional appreciation, robust rental growth, and attract high-quality tenants, making them a cornerstone of any successful real estate portfolio. Just a short stroll from Newport Beach, 741 W 18th Street is nestled less than half a mile from Newport Blvd, offering the best of both worlds with easy beach access and close proximity to vibrant city amenities. The property features an attractive mix of one- and two-bedroom units. Units A and B offer the luxury of private yard access, perfect for outdoor enthusiasts, while Units C and D come with private deck entries, providing a serene space for relaxation. The property benefits from tuck-under parking at the rear of the building and a spacious shared driveway ensuring ample parking spaces for both residents and guests. All tenants are on month-to-month leases, affording the buyer maximum flexibility when operating the property. Investing in fixtures and aesthetics will provide significant upside potential in rental income, making this property an excellent value-add opportunity. Take advantage of residential financing options to secure this property, making it accessible for first-time investors or those looking to expand their portfolios. This is a rare chance to acquire a sought-after property that has not been available since 1996. Don’t miss out on this exceptional investment opportunity in a prime coastal location!

Listing Information

List Price $1,600,000
Status Active
MLS PW24127306
Type Residential Income
Subtype Quadruplex
Year Built 1960
Lot Size 6,120
Structure Size N/A
DOM 53
Courtesy Of Justin White
Listing Agent Justin White DRE#01267826

Interior Features

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Exterior Information

Maps

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Listing information courtesy of: Justin White, Justin White . *Based on information from the Association of REALTORS/Multiple Listing as of Jun 29th, 2024 at 10:45 PM and/or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.