$1,900,000
$2,250,000
15.6%For more information regarding the value of a property, please contact us for a free consultation.
0.43 Acres Lot
SOLD DATE : 10/27/2025
Key Details
Sold Price $1,900,000
Property Type Apartment
Sub Type Apartment
Listing Status Sold
Purchase Type For Sale
Subdivision Costa Mesa Residential Income (Cmri)
MLS Listing ID NP25117556
Sold Date 10/27/25
HOA Y/N No
Year Built 1956
Lot Size 0.426 Acres
Property Sub-Type Apartment
Property Description
Welcome to 2028 Wallace Avenue, a rare multifamily/redevelopment investment opportunity located in the heart of Costa Mesa's rapidly evolving Westside. Situated on a massive lot, this three-unit property features an attractive unit mix consisting of (1) 3BR/2.5BA and (2) 1BR/1BA units across approximately 2,299 SF of existing living space. Positioned within the Mesa West Urban Plan and a federally recognized Opportunity Zone, 2028 Wallace offers significant upside potential. Investors have the opportunity to modernize the existing units, add Accessory Dwelling Units (ADUs), or redevelop the site entirely by leveraging the increased density allowances of the Mesa West Specific Plan. The Opportunity Zone designation further enhances the appeal with the potential for long-term tax advantages.
Location
State CA
County Orange
Area C4 - Central Costa Mesa
Interior
Fireplace No
Laundry Washer Hookup, Gas Dryer Hookup
Exterior
Parking Features Assigned
Garage Spaces 7.0
Garage Description 7.0
Pool None
Community Features Biking, Curbs, Storm Drain(s), Street Lights, Sidewalks
Total Parking Spaces 7
Private Pool No
Building
Lot Description 6-10 Units/Acre
Story 1
Sewer Public Sewer
Water Public
New Construction No
Others
Senior Community No
Tax ID 42225216
Acceptable Financing Cash, Cash to New Loan
Listing Terms Cash, Cash to New Loan
Financing Cash to New Loan
Special Listing Condition Standard
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Bought with Nick Gould Gould Group Inc