About 777 18th Street
Exceptional Investment Opportunity – Two detached homes on a large 9,218-square-foot parcel! Located in the rapidly appreciating West Side Costa Mesa area, this property is ideal for investors, developers, or homeowners seeking rental income. The prime property presents a promising opportunity for investors to increase income by adjusting the existing below-market lease rates to market value. The recently renovated front home has 3 bedrooms and 1 full bathroom, featuring a spacious, gated front yard. The open floor plan offers vaulted ceilings, wood flooring, and a brick fireplace, with abundant natural light streaming through skylights and windows. An independent, gated rear yard attached to this house provides the perfect space for private relaxation or entertaining. The front home is currently vacant and available for lease, with high interest already expressed by potential tenants. It is actively listed for lease at $3,900 per month. The rear detached home, with its own private, gated backyard, includes 4 bedrooms and 2 bathrooms. The open living room and kitchen create a seamless flow, leading to an expansive outdoor area shaded by mature trees for added privacy and tranquility. The current long-term tenant in the rear is on a month-to-month lease at $3,600 per month, while similar neighboring rentals are achieving up to $4,200 per month, highlighting potential for increased rental income. Each home has a separate laundry area, a one-car garage, and ample off-street parking. Conveniently situated near the vibrant 17th Street scene and the iconic beaches of Newport Beach, this duplex offers an outstanding opportunity for income generation and capital growth in a highly sought-after location. Zoned for multifamily development, this property presents prime development potential. Don’t miss out on this incredible opportunity!
Features of 777 18th Street
| MLS® # | NP24223351 |
|---|---|
| Price | $1,800,000 |
| Bedrooms | 7 |
| Bathrooms | 3.00 |
| Acres | 0.21 |
| Year Built | 1961 |
| Type | Residential Income |
| Sub-Type | Duplex |
| Style | Ranch |
| Status | Active |
Community Information
| Address | 777 18th Street |
|---|---|
| Area | C2 - Southwest Costa Mesa |
| Subdivision | Westside Costa Mesa South (WSCM) |
| City | Costa Mesa |
| County | Orange |
| Zip Code | 92627 |
Amenities
| Utilities | Cable Connected, Electricity Connected, Natural Gas Connected, Phone Available, Phone Connected, Sewer Connected, Water Connected, Overhead Utilities |
|---|---|
| Parking Spaces | 8 |
| Parking | Assigned |
| # of Garages | 2 |
| Garages | Assigned |
| View | None |
| Is Waterfront | No |
| Has Pool | No |
| Pool | None |
Interior
| Interior | Laminate, Tile, Wood |
|---|---|
| Interior Features | Ceramic Counters, Cathedral Ceiling(s), Open Floorplan, All Bedrooms Down, Bedroom on Main Level, Walk-In Closet(s), Beamed Ceilings, Tile Counters, Unfurnished |
| Appliances | Built-In Range, Gas Cooktop, Disposal, Gas Oven, Gas Range, Water Heater |
| Heating | Forced Air, Wall Furnace |
| Cooling | None |
| Has Basement | No |
| Fireplace | Yes |
| Fireplaces | Living Room, Masonry, Wood Burning |
| # of Stories | 1 |
| Stories | One |
Exterior
| Lot Description | TwoToFiveUnitsAcre, Back Yard, Front Yard, Lawn, Landscaped, Level, Near Public Transit, Paved, Rectangular Lot, Trees, Yard |
|---|---|
| Windows | Screens, Skylight(s) |
| Roof | Composition |
| Foundation | Slab |
Additional Information
| Date Listed | November 1st, 2024 |
|---|---|
| Days on Market | 32 |
| Zoning | R2 |
| Foreclosure | No |
| Short Sale | No |
| RE / Bank Owned | No |
| Leased Land | Fee |
| Senior Community | No |
Listing Details
| Agent | Stephanie Peterson |
|---|---|
| Office | Arbor Real Estate |