1124 Victoria, Costa Mesa, California 92627, Costa Mesa, 92627 - 0 bed, 0 bath
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Costa Mesa, California 92627
This Multifamily Investment Asset is listed at $2,250,000, reflecting market stability near its $2,157,889 Fair Market Value following a strategic price reduction. Boasting a Condition Rating of 3, the property features two renovated three-bedroom units and two studios situated on an expansive 13,047 square foot lot. This significant land-to-building ratio offers a rare ADU Development Opportunity for forced appreciation in a supply-constrained coastal submarket. With private patios and proximity to Victoria Elementary, this is a premier acquisition for Buy-and-Hold Investors or Owner-Occupants seeking a high-yield house-hack.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 1124 Victoria Subject | $2,250,000* List Price | 0 | 0 | 3,449 | $626 | - |
A 2195 American Avenue Sold | $1,670,000 | 4 | 3 | 2,191 | $762 | 0.3 mi |
* Subject property listed price vs sold prices of comps.
Property is move-in ready.
While originally built in 1961, the interior images reveal that select units have been extensively renovated with modern finishes. The kitchen features updated white shaker-style cabinetry, stainless steel appliances, and contemporary tile work. Throughout the living areas, there is newer laminate wood flooring and fresh paint. The property appears well-maintained and move-in ready, though the exterior and overall structure still reflect its mid-century origin.
Elementary School: Hyer Elementary School (10/10). High School: Highland Park High School (9/10).
The expansive 13,047 square foot lot provides significant intrinsic land value and a rare opportunity for future expansion, including the potential to add Accessory Dwelling Units (ADUs) to increase yield.
The property features a desirable composition of two large three-bedroom, two-bathroom single-story units and two studios, catering to a wide range of tenants and ensuring strong occupancy fundamentals.
Living area discrepancy between mls listing and other public or private record. mls listing living area = 3449, other record living area = 2295.
Built in 1961, the property may require ongoing capital improvements and maintenance for older systems, which could impact net operating income over time.
A recent price reduction from the original list price indicates that the property is currently undergoing a price discovery phase to align with current market expectations.
The Victoria Street Apartments presents a rare opportunity to acquire a well-located, four-unit multifamily investment in the highly desirable, supply-constrained submarket of Costa Mesa within Greater Orange County. Constructed in 1961, the property features a low-density and highly attractive unit mix consisting of (2) spacious, single-story three-bedroom/two-bath units and (2) studios totaling approximately 3,449 square feet. The asset sits on an expansive 13,047 square foot lot, offering strong intrinsic land value and future operational flexibility, including potential ADU opportunities. The property provides a compelling resident experience with desirable amenities, such as ample on-site parking with covered carports, private patios, and balconies - features that enhance tenant appeal and support strong occupancy fundamentals. Select units have undergone recent upgrades and renovations, further strengthening the asset’s competitive positioning. Strategically located near Costa Mesa’s premier retail, dining, and entertainment corridors - and just minutes from Huntington Beach - the property benefits from close proximity to The Triangle Square, the OC Fair & Event Center, the 17th Street Promenade, and Talbert Regional Park. This prime location, combined with the asset’s favorable unit composition and land-to-building ratio, positions the Victoria Street Apartments as a high-quality investment opportunity offering durable demand drivers, rental upside, and meaningful long-term appreciation potential.
No exterior & parking available.
Grades PK-6 • 0.3 mi
Grades PK-6 • 0.8 mi
Grades PK-6 • 0.9 mi
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 0.0 | 0.0 | 50% |
| Baths | 0.0 | 0.0 | 50% |
| Square foot | 3,449 | 2,112.5 | 83% |
| Lot Size | 13,047 | 7,577 | 94% |
| Price | $2.25M | $1.94M | 72% |
| Price per sq ft | $652 | $946 | 17% |
| Built year | 1961 | 1960 | 56% |
| HOA | $0 | $0 | 50% |
| Days on market | 51 | 189 | 11% |
Apr 4, 2026
$2,250,000
$2,325,000
-3% Price Drop
Initial Listing
Mar 2, 2026
$2,325,000
Initial Listing
Dec 16, 2019
$1,500,000
Public Record
Sep 13, 2004
$769,000
Public Record