2859 Hickory PlaceCosta Mesa, CA 92626

Description

Excellent opportunity to acquire a well-located four-unit investment property in the heart of Costa Mesa, offering an attractive combination of strong in-place rental income and meaningful future upside. With rents currently below projected market levels, the property provides an investor with the opportunity to increase income over time while benefiting from four established rental income streams. The desirable unit mix consists of one three-bedroom residence and three two-bedroom residences, providing larger and more versatile floor plans than many typical apartment investments. This mix appeals to a broad tenant base, including professionals, couples, families and those seeking additional space for a home office. Tenants pay their own gas and electricity, helping reduce the owner's exposure to rising utility costs. The property's central Costa Mesa location is a significant advantage. Residents enjoy convenient access to South Coast Plaza, South Coast Metro, Orange Coast College and John Wayne Airport, along with the employment, shopping, dining and entertainment opportunities found throughout Costa Mesa and neighboring Irvine. Newport Beach and Huntington Beach are also just minutes away, providing easy access to some of Orange County's most desirable coastal communities. Excellent freeway accessibility via the 405, 55 and 73 makes the property convenient for tenants working throughout Orange County. Costa Mesa's combination of employment, entertainment, shopping, education and proximity to the coast continues to make it a highly desirable rental market. For an investor seeking a smaller multifamily property with existing cash flow, multiple income streams and the potential for future rental growth, this property offers a compelling opportunity in one of Orange County's most desirable and centrally located communities.

Property Information

Property type

Residential Income

Sub-type

Quadruplex

Year built

1965

Stories

2

Lot size

0.16 acres

Garage spaces

4

Days on market

53

MLS^® Listing#

V1-38449

Property Features

Appliances

Electric Cooktop · Electric Oven

Cooling

None

Heating

Wall Furnace

Flooring

Carpet · Laminate · Vinyl

Fireplace

None

Pool

None

Parking

Garage · On Street

Laundry

None

Fencing

None

Community

Curbs · Street Lights · Sidewalks

Utilities

Electricity Connected · Natural Gas Available

Sewer

Public Sewer

Water source

Private

Parcel number

13929618

Directions

From 405-South on HarborRight on PonderosaRight on Hickory Place