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121 Cecil Place, Costa Mesa, California 92627, Costa Mesa, 92627 - 3 bed, 1 bath

121 Cecil Place, Costa Mesa, California 92627 home-pic-0
ACTIVE$1,400,000
121 Cecil Place, Costa Mesa, California 92627
3Beds
1Bath
1,530Sqft
8,545Lot

Price Vs. Estimate

The estimated value ($1,217,281.765) is $182,718.235 (13%) lower than the list price ($1,400,000). This property may be overpriced.

Key pros and cons

Top Pros:
High Available Lot Utilization: The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 8545, living area = 1530.
Top Cons:
Significant Age & Condition: Built in 1927, the existing single-family residence is very old and likely requires extensive renovation or demolition, representing a substantial upfront cost.

Compared to the nearby listings

Price:$1.40M vs avg $1.75M ($-350,000)28%
Size:1,530 sqft vs avg 1,749 sqft31%
Price/sqft:$915 vs avg $1.0K36%

More Insights

Built in 1927 (98 years old).
Condition: Built in 1927, this property is nearly 100 years old. The listing explicitly targets investors and developers for a 'proposed modern condo project,' indicating the value is in the land for redevelopment. The property analysis confirms the existing structure 'likely requires extensive renovation or demolition.' The absence of interior photos strongly suggests the current house is not in a livable or desirable condition, making it a tear-down candidate where value is solely based on the land.
Year Built
1927
Close
-
List price
$1.4M
Original List price
$1.65M
Price/Sqft
$915
HOA
-
Days on market
-
Sold On
-
MLS number
PW25031569
Home ConditionTear down
Features
ViewNeighborhood

About this home

!!!ATTENTION!!! INVESTORS & DEVELOPERS! We are excited to present a rare and exceptional investment opportunity located in the highly desirable Eastside Costa Mesa neighborhood. This is a prime chance for savvy investors looking for high-quality development projects in a sought-after location. Don’t miss out on this outstanding opportunity! This proposed modern condo project to be submitted to Costa Mesa planning for approval, offers (plans to be requested): an expansive living experience with 4 bedrooms, 4 ½ bathrooms, with 2 cars garage ideal for families or those seeking extra space with a lot size of 4,273 square feet with approx. 3,000 square feet living quarters each unit spread across two levels, the open-concept floor plan features high ceilings, comfortable living area, dining room, and abundant natural light throughout. This project opportunity offers a perfect blend of good location, safe and high returns on investment. Costa Mesa is known for its proximity to upscale shopping centers like the renowned South Coast Plaza, vibrant arts scene , the OC Fair & Event Center, quick access to stunning trendy boutiques, diverse dining options, and a wealth of outdoor activities— like parks and golf courses . With excellent schools nearby and easy access to major freeways, commuting to Orange County hotspots is a breeze.

Nearby schools

8/10
Heinz Kaiser Elementary School
Public,•3-6•0.5mi
/10
Woodland Elementary School
Public,•PK-2•0.8mi
8/10
Mariners Elementary School
Public,•PK-6•1.5mi
8/10
Newport Heights Elementary School
Public,•K-6•3.2mi
4/10
Monroe Elementary School
Public,•K-5•4.9mi
7/10
Horace Ensign Intermediate School
Public,•7-8•2.4mi
3/10
Mcfadden Intermediate School
Public,•6-8•4.1mi
7/10
Newport Harbor High School
Public,•9-12•2.0mi
3/10
Century High School
Public,•9-12•6.3mi
Condition Rating
Tear down
Built in 1927, this property is nearly 100 years old. The listing explicitly targets investors and developers for a 'proposed modern condo project,' indicating the value is in the land for redevelopment. The property analysis confirms the existing structure 'likely requires extensive renovation or demolition.' The absence of interior photos strongly suggests the current house is not in a livable or desirable condition, making it a tear-down candidate where value is solely based on the land.
Pros & Cons

Pros

High Available Lot Utilization: The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 8545, living area = 1530.
Exceptional Development Opportunity: Explicitly marketed as a rare and exceptional investment for developers, highlighting its potential for high returns and a proposed modern condo project.
Prime Eastside Costa Mesa Location: Situated in a highly desirable neighborhood with excellent access to upscale amenities, dining, entertainment, and major freeways.
Generous Lot Size: The substantial 8,545 sq ft lot offers significant potential for a multi-unit development or substantial expansion of the existing structure.
Strong Local Amenities & Accessibility: Proximity to South Coast Plaza, vibrant arts scene, OC Fair, trendy boutiques, diverse dining, outdoor activities, and easy freeway access enhances lifestyle appeal.
Reputable School District: Located within the Newport Mesa Unified School District, a positive factor for future residents and property value.

Cons

Significant Age & Condition: Built in 1927, the existing single-family residence is very old and likely requires extensive renovation or demolition, representing a substantial upfront cost.
Unapproved Development Plans: The proposed condo project is subject to Costa Mesa planning approval, introducing considerable regulatory risk and uncertainty for investors and developers.
Potential Overpricing: The current listing price of $1.4M is notably above the estimated property value of approximately $1.217M, potentially limiting buyer interest and requiring price adjustments.

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