Under Contract

631 Shalimar Drive

Costa Mesa CA, 92627

$1,600,000


$526.66 per sqft

Under Contract

3,038 sqft

Multi-family

Built in 1957

Listed by Justin White with Justin White 714-231-2537

Coastal apartments have long been a favored choice among real estate investors due to their promising appreciation rates and strong
rental income potential. In this regard, Costa Mesa has emerged as an increasingly attractive option, propelled by factors such as
gentrification, substantial growth, the general appeal of renting among young professionals, and its proximity to the thriving real estate
markets of Newport Beach and Huntington Beach.

The subject property is less than a quarter mile to Eastside Costa Mesa, the bustling retail hub on 17th Street, and the 55 freeway.
Additionally, the property is located approximately 1.25 miles from the Pacific Coast Highway (PCH). There are four large sized 1-bedroom 1-
bath units in well-maintained condition. Among the appealing aspects of this property is its adjacency to a variety of retail establishments,
including PetSmart, Trader Joe's, O'Reilly's Auto Parts, and Walgreens, thereby enriching the overall quality of life needed for its 1-bedoom
renting tenants.

Considering its prime location, substantial rental growth potential, and the prospect of securing excellent tenants, this property stands as a
valuable addition to an investor's expanding portfolio or as an ideal starting point for someone entering the real estate market.

PW24047406

MLS ID

February 26, 2024

Listed

April 3, 2024

Updated

Map

631 Shalimar Drive
Costa Mesa CA, 92627

Interior Features

Total Stories

2


Laundry Description

None


Fireplace

No


Cooling

No


Heating

No

Exterior/Building Features

Lot Size

0.14 Acres


Lot Features

2-5 Units/Acre, Back Yard, Front Yard


Sewer

None

Other Property Details

Area Name

699 - Not Defined


Days on Market

26


Garage

Yes


Garage Spaces

4


Parking

Door-Single, Garage


Parking Total

4


View

No


County

Orange


Water Source

Public


Pool

No


Pool Features

None


Buyer Agency Compensation

3%

Listing History

Date

Event

Price

4/3/2024

Under Contract

Listing Contact: 714-231-2537 

Based on information from the California Regional Multiple Listing Service (CRMLS) as of 4/3/2024. 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 usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, the Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. Any offer of compensation is made only to participants of the MLS where the listing is filed.

©2024 California Regional Multiple Listing Service (CRMLS) all rights reserved.

Data last updated on 4/3/2024 at 11:12 PM UTC

 

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