274 Palmer St
3 Unit Apartment Building Offered at $2,995,000 in Costa Mesa, CA 92627
INVESTMENT HIGHLIGHTS
- A+ Location
- Great owner/user opportunity
- New roof in 2023
EXECUTIVE SUMMARY
We are pleased to present 274 Palmer Street, a 3-unit multifamily offering in a prime Eastside Costa Mesa location. The detached front house is comprised of 3 bedrooms along with 2 bathrooms, and features wood flooring, central air conditioning, and a private yard space. The other units include a 2 bedroom, 2 bath upper apartment over the 2-car garage and a studio (currently non-conforming). This property presents an attractive opportunity for either an investor interested in growing their portfolio or an owner-user looking to live in a unit while generating strong income from the other units. Buyers will be happy to know that a new roof was installed in 2023. This asset is located in one of the most desirable rental markets in Orange County and offers homeowners as well as tenants close proximity to top rated schools, beaches, parks, and all the amenities 17th Street has to offer. This is one investment opportunity you do not want to miss!
PROPERTY FACTS
| Price | $2,995,000 |
| Price Per Unit | $998,333 |
| Sale Type | Investment |
| No. Units | 3 |
| Property Type | Multifamily |
| Lot Size | 0.18 AC |
| Building Size | 2,509 SF |
| No. Stories | 2 |
| Year Built | 1955 |
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| Studios | 1 | $1,250 | 334 |
| 2+2 | 1 | $2,650 | 960 |
| 3+2 | 1 | - | 1,548 |
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Walk Score®
Very Walkable (82)
