283 Avocado Street 283 Avocado Street Costa Mesa, California 92627 United States
283 Avocado Street Costa Mesa, California 92627 United States
$12,000,000
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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 $1.7M in interior and exterior capital improvements. 100% of...
- .85 Acres
- Exterior
- Residential Income
- Property type
- 1973
- Year Built
- OC24013316
- Web Id
- OC24013316
- MLS ID
- College Park (COLP)
- Subdivision
- 98
- days ago
About 283 Avocado Street
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 $1.7M 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 50% LTV and interest-only payments for nine years, 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% with a down payment of $6,000,000 no appraisal required, no points for the loan assumption, COE in 30 days or less.
Listing Courtesy of Marcus & Millichap RE Invest, Email/Phone : 714-713-9086
The listing brokers offer of compensation is made only to participants of the MLS where the listing is filed.
Listing Courtesy of Marcus & Millichap RE Invest, Email/Phone : 714-713-9086
The listing brokers offer of compensation is made only to participants of the MLS where the listing is filed.
Amenities
- Community Pool
features
- Parking
- Car Port, Garage
- Community
- Sidewalks
PROPERTY INFORMATION
- Community Info
- Curbs, Sidewalks, Pool
- Garage Info
- 13
- Pool
- Community, Fenced
- Sewer
- PublicSewer
- Water
- Public
EXTERIOR
- Lot Description
- StreetLevel
ADDITIONAL INFORMATION
- Number of Units
- 25
Listing Courtesy of Marcus & Millichap RE Invest, Email/Phone : 714-713-9086