Active

383 W Wilson Street

Costa Mesa CA, 92627

$4,620,000


$583.33 per sqft

Active

7,920 sqft

Condo

Built in 1965

Listed by Tyler Leeson with Marcus & Millichap RE Invest 949-419-3200

383 West Wilson Street is a 12-unit multifamily investment property located in Costa Mesa, California. The property offers a mix of 10, one-bedroom units and 2, two-bedroom units. All units have undergone substantial renovations that include fresh paint, vinyl and carpet flooring, quartz countertops, appliances, bathrooms, and more. Amenities at 383 West Wilson Street include ample garage and surface parking, and an on-site laundry facility. Residents benefit from 383 West Wilson Street's excellent Costa Mesa location, within walking distance of a plethora of major retail centers. Located just steps away from the property are Gray Plaza, anchored by At Home, and Harbor Center, anchored by Home Depot and the newly opened Mercado Gonzalez Northgate Market. Additionally, the property is situated less than one-mile from Orange Coast College (OCC) and the O.C. Fairgrounds, two major housing and economic drivers for the area. Furthermore, the property's location, between Harbor Boulevard and State Route 55, provides residents with easy access to Costa Mesa hotspots including Triangle Square, 17th Street, and South Coast Plaza. The property benefits from its close proximity to State Routes 55 and 73, convenient access to major employment hubs including the South Coast Metro, Irvine Business District, and Newport Center. The Costa Mesa submarket is among the strongest performing areas in metro Orange County, with an average occupancy of 96.5 percent (Q4 2023) and average year-over-year effective rent growth of 8.9 percent (between 2021 to 2023), demonstrating the strong demand for rental housing. Costa Mesa's coastal location, strong economic growth, and unmatched local attractions have made it one of Southern California's most desirable and versatile markets. Given its Coastal Orange County location, the property offers an investor the ability to capture quality tenants seeking a convenient location with access to a wide variety of area amenities. This overall demand for well-located apartments will be a key driver in the continued growth at 383 West Wilson Street.

OC24096600

MLS ID

May 13, 2024

Listed

May 26, 2024

Updated

Map

383 W Wilson Street
Costa Mesa CA, 92627

Interior Features

Total Stories

2


Laundry Description

Common Area


Fireplace

No


Cooling

No


Heating

No

Exterior/Building Features

Lot Size

0.43 Acres


Lot Features

Street Level


Sewer

Public Sewer

Other Property Details

Area Name

C2 - Southwest Costa Mesa


Days on Market

12


Garage

Yes


Garage Spaces

13


Parking Total

23


View

No


County

Orange


Water Source

Public


Pool

No


Pool Features

None


Buyer Agency Compensation

2%

Listing Contact: 949-419-3200 

Based on information from the California Regional Multiple Listing Service (CRMLS) as of 5/26/2024. 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 5/26/2024 at 6:07 AM UTC

 

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