Property Details
About this Property
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 $1.8M 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 51% LTV and interest-only payments until 2032 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 4.5% with a down payment of $5,800,000—no appraisal required, no points for the loan assumption, COE in 30 days or less.
MLS Listing Information
MLS #
CROC24013316
MLS Source
California Regional MLS
Interior Features
Laundry
Community Facility
Parking, School, and Other Information
Garage/Parking
Garage: 13 Car(s)
HOA Fee
$0
Contact Information
Listing Agent
Tyler Leeson
Marcus & Millichap RE Invest
License #: 01451551
Phone: (949) 419-3326
Co-Listing Agent
Wmichael Cavner
License #: 01274709
Phone: (949) 456-0375
Unit Information
| # Buildings | # Leased Units | # Total Units |
|---|---|---|
| 3 | – | – |
Neighborhood: Around This Home
Neighborhood: Local Demographics
283 Avocado St is a Residential Income in Costa Mesa, CA 92627. This – square foot property sits on a 1 Sq Ft Lot and features – bedrooms & – full bathrooms. It is currently priced at $11,650,000 and was built in 1973. This address can also be written as 283 Avocado St, Costa Mesa, CA 92627.
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This listing information is up-to-date as of December 21, 2024. For the most current information, please contact Tyler Leeson, (949) 419-3326
