218 E 16th, Costa Mesa, California 92627, Costa Mesa, 92627 - 0 bed, 0 bath
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218 E 16th
Costa Mesa, California 92627
ACTIVE
CONDITION: FAIR
0Beds
0Baths
1,800Sq Ft
6,970Lot Size
Property Price
LIST PRICE$1,899,550
EST. MARKET VALUE
$1,763,292
7% AboveMARKET VALUE
SUMMARY
This duplex presents a High-Potential Investment Opportunity with a List Price of $1,899,550—positioned above the $1,763,292 Fair Market Value. While priced at a premium, the property offers immediate cash flow with one unit occupied and the other vacant, ready for market-rate leasing. Featuring a Condition Rating of 4, the asset provides a stable foundation for future multi-unit redevelopment on its 6,970 sq. ft. lot. Located near top-rated schools like Mariners Elementary, this is a strategic acquisition for Buy-and-Hold Investors or Developers seeking long-term density growth.
Estimated Market Value
$1,763,292
Based on Realkey algorithm analyzing recent comparable sales in Costa Mesa.
Condition Analysis
See Full ReportOVERALL CONDITION SCORE
Fair
TeardownExcellent
Property is moderate renovation needed.
Built in 1978, the property has received recent cosmetic updates including new vinyl plank flooring, fresh paint, and updated stainless steel kitchen appliances, making it immediately rentable. However, the overall structure, exterior stucco, popcorn ceilings, and cracked driveway show clear signs of age, and the listing highlights it as a prime candidate for future redevelopment.
PROSSTRENGTHS & OPPORTUNITIES
- Prime Coastal Location
Situated in the highly desirable Eastside Heights, the property is directly across from Heller Park and minutes from Newport Beach, offering an exceptional lifestyle and high tenant demand.
- Redevelopment Potential
The generous 6,970 sqft lot presents a rare opportunity for multi-unit redevelopment in a high-value area, maximizing long-term capital appreciation and density.
- Immediate Cash Flow
With one unit already occupied and the second vacant, investors can benefit from stable existing income while immediately capturing market rents for the rear unit.
CONSRISKS & DEFICIENCIES
- MLS Listing Discrepancy
Lot size discrepancy between mls listing and other public or private record. mls listing lot size in square feet =6970, other record lot size in square feet = 6891.
- Dated Infrastructure
Being on the market for the first time in 60 years and built in 1978, the property likely requires significant modernization or capital expenditure to meet modern luxury standards.
- Premium Pricing
The list price of $2.15M reflects the land value and location, which may result in a lower initial capitalization rate compared to other income-producing assets in the region.
About 218 E 16th
RARE DUPLEX OPPORTUNITY IN EAST COSTA MESA! First time on the market in over 60 years. This exceptional property consists of two separate units measuring 900 sq. ft each. The rear unit boasts its own large private backyard. Situated directly across the street to Heller Park, the location is unbeatable, positioned just blocks from the vibrant dining and retail scene along 17th Street and only six minutes to Newport Beach’s Balboa Peninsula. With the back unit vacant and ready to be rented and the unit in front already rented, providing immediate, stable income, this rare property is a prime candidate for future multi-unit redevelopment on this lot. Located with the prestigious Newport Mesa Unified School District and close the renowned back bay loop for outdoor enthusiasts, this property epitomizes the best of Costa Mesa living. Don’t miss the opportunity to make this duplex your next investment. Call today to schedule a tour.
Property Details
Public Facts
- Property Type
- Duplex
- Year Built
- 1978
- Lot Size
- 6,970 Sq. Ft.
Interior
- Total Bedrooms
- 0
- Total Bathrooms
- -
Exterior & Parking
No exterior & parking available.
Utilities & Misc
- HOA Fee
- $0 / Month
Neighborhood Insights
Costa Mesa Unified Schools
Mariners Elementary School
Grades PK-6 • 0.9 mi
8/10
Woodland Elementary School
Grades PK-2 • 1.1 mi
0/10
Heinz Kaiser Elementary School
Grades 3-6 • 1.4 mi
8/10
Sensitive Facilities
No sensitive facilities data found.
Neighborhood Comparison
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 0.0 | 4.1 |
| Baths | 0.0 | 3.3 |
| Square foot | 1,800 | 2,325.7 |
| Lot Size | 6,970 | 6,920 |
| Price | $1.90M | $1.87M |
| Price per sq ft | $1.1K | $755 |
| Built year | 1978 | 1962 |
| HOA | $0 | $0 |
| Days on market | 33 | 70 |
Pricing History
Listed for Sale
Oct 20, 2026
$1,899,550
$2,150,000
-12% Price Drop
Initial Listing
Price Change
Sep 22, 2026
$2,150,000
Initial Listing