$1,795,000
1022 W Wilson Street
Costa Mesa, CA, 92627
Property Description
INVESTORS & BUILDERS, close on this excellent development opportunity with City entitlements, final County map, and full sets of permit ready plans. City of Costa Mesa approved lot split using their Small Lot Ordinance (SLO) guidelines. 2 nearly identical lots have been created from this prime oversized lot of 10,817 SF. Each new lot will be approx. 53′ wide by 102′ deep, totaling 5,406 SF. On each lot will be one 2-story, 4 bed & 3.5 bath front house of 2,266 SF, plus a single level detached ADU in the back with 2 beds & 2 baths in 884 SF. Architecture is coastal modern farmhouse by Bryant Palmer & Soto. Features will include high volume and vaulted ceilings, great rooms and lofts, upstairs laundry rooms, indoor/outdoor feel, oversized garages, private yards, separate gated entries, welcoming front porches and patios. ADUs will have separate and private entries and all yards will be privately fenced. All units separately metered with electric and gas. Outdoor spaces by BGB Design Group will be soothing places to rest, rejuvenate and entertain with California friendly landscaping and practical yet aesthetically pleasing hardscape surfaces. Just around the corner are Fairview Park and Talbert Nature Preserve, and Santa Ana River trails with beach access. Just a few blocks from excellent Waldorf School. These homes and ADUs will be terrific residences for their occupants. Conservative rental pro forma is $6,500-$7,000/mo for the front houses and $3,500-$3,750/mo for the ADUs. The development project offers many options for the lucky buyer: 1.) Develop and sell for profit; 2.) Develop and rent all units out, then hold for the long-term appreciation and tax write offs; 3.) Build for yourself and move into one and rent the others; 4.) Build both lots, then sell one off to pay for the one you keep; and/or 5.) Purchase for your 1031 exchange to defer capital gains taxes. What is your plan? Reach out to Bixby Residential and allow us to consult with you on your options, connect you with our development team, and introduce you to potential contractors for the build out should you need one. *NOTE: Listing has supplements–SEE BROCHURE WITH RENTAL AND SALES COMPS.
Property Details
Price:
$1,795,000
MLS #:
NP24202018
Status:
Active
Beds:
12
Baths:
12
Address:
1022 W Wilson Street
Type:
Single Family
Subtype:
Single Family Residence
Neighborhood:
c2southwestcostamesa
City:
Costa Mesa
Listed Date:
Sep 30, 2024
State:
CA
Finished Sq Ft:
6,300
ZIP:
92627
Lot Size:
10,817 sqft / 0.25 acres (approx)
Year Built:
Schools
Interior
Appliances
Dishwasher, Gas Oven, Gas Range, Gas Water Heater, Microwave, Range Hood, Refrigerator
Cooling
Central Air
Fireplace Features
None
Flooring
Tile, Wood
Heating
Forced Air
Interior Features
High Ceilings, Open Floorplan, Wired for Data, Wired for Sound
Exterior
Community Features
Biking, Curbs, Dog Park, Golf, Gutters, Park, Storm Drains, Street Lights, Suburban
Electric
220 Volts in Garage, 220 Volts in Laundry
Fencing
Block, Vinyl
Foundation Details
Slab
Garage Spaces
4.00
Green Energy Efficient
Appliances, Construction, H V A C, Insulation, Lighting, Thermostat, Water Heater, Windows
Green Energy Generation
Solar
Lot Features
Back Yard, Front Yard, Landscaped, Park Nearby, Sprinklers Drip System, Sprinklers Timer
Parking Features
Direct Garage Access, Garage, Oversized
Parking Spots
4.00
Pool Features
None
Roof
Composition, Metal
Security Features
Carbon Monoxide Detector(s), Fire Sprinkler System, Smoke Detector(s)
Sewer
Public Sewer
Spa Features
None
Stories Total
2
View
None
Water Source
Public
Financial
Association Fee
0.00
Utilities
Cable Available, Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected
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Courtesy of Compass. Disclaimer: All data relating to real estate for sale on this page comes from the Broker Reciprocity (BR) of the California Regional Multiple Listing Service. Detailed information about real estate listings held by brokerage firms other than Mohr Real Estate Group include the name of the listing broker. Neither the listing company nor Mohr Real Estate Group shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. The Broker providing this data believes it to be correct, but advises interested parties to confirm any item before relying on it in a purchase decision. Copyright 2024. California Regional Multiple Listing Service. All rights reserved.
1022 W Wilson Street
Costa Mesa, CA
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