
Costa Mesa, California 92627
This property presents a High-Potential Investment Opportunity with a List Price of $2,000,000, aligning with its $2,000,000 Fair Market Value. As a rare, side-by-side duplex portfolio, this Residential Income Asset offers immediate, stable cash flow from three occupied units. With a Condition Rating of 6, the property serves as a premier candidate for future multi-unit redevelopment. Its proximity to Heller Park and Newport Beach ensures long-term rental demand. This is an ideal acquisition for Buy-and-Hold Investors or Developers seeking a strategic Costa Mesa footprint.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 220 Knox Subject | $2,000,000* List Price | 4 | 2 | 1,627 | $1,229 | - |
A 226 Knox Active | $2,000,000 List Price | 4 | 2 | 1,627 | $1,229 | 0.0 mi |
* Subject property listed price vs sold prices of comps.
Property is land value only, full reconstruction required.
Built in 1950 and on the market for the first time in over 60 years, the property exceeds the 50-year age threshold with no evidence of modern renovations. The listing explicitly markets the site as a 'premier candidate for future multi-unit redevelopment,' and aerial imagery shows a patchwork roof structure, indicating the primary value lies in the land rather than the aging improvements.
Situated directly adjacent to Heller Park with no side neighbors, the property offers exceptional privacy while being just blocks from 17th Street’s dining scene and minutes from Newport Beach.
As a premier candidate for future multi-unit redevelopment on two adjacent parcels, this property offers significant long-term value for investors looking beyond current rental income.
The units are highly marketable featuring private backyards, dedicated two-car garages, and individual laundry hookups, which are premium assets for residential income properties.
Built in 1950, the property may require significant capital expenditure for modernizing systems or structural repairs to maintain its competitive edge in the market.
At a $2,000,000 price point for a duplex, the initial capitalization rate may be lower than other investment opportunities, requiring a focus on long-term appreciation or development.
RARE MULTI-FAMILY OPPORTUNITY! First time on the market in over 60 years, 220 and 226 Knox Place offer a generation-defining acquisition preferred to be sold together. This exceptional property consists of two separate side-by-side duplexes that look, feel, and function as a seamless fourplex connected by a shared driveway. The portfolio features four spacious two-bedroom, one-bathroom units, with each duplex measuring approximately 1,627 sq. ft., making each individual unit roughly 813 sq. ft. of comfortable living space complete with individual laundry hookups. Enhancing their appeal, both rear units boast their own private backyards and dedicated two-car garages, with one even featuring a charming three-season sunroom. Situated directly adjacent to Heller Park with no side neighbors for maximum privacy, 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 three tenant-occupied units providing immediate, stable income, this rare property serves as both a high-performing income asset and a premier candidate for future multi-unit redevelopment on two adjacent parcels.
No exterior & parking available.
Grades PK-6 • 0.9 mi
Grades PK-2 • 1.2 mi
Grades 3-6 • 1.4 mi
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 4.0 | 4.1 |
| Baths | 2.0 | 3.3 |
| Square foot | 1,627 | 2,378.222 |
| Lot Size | 6,259 | 7,156.444 |
| Price | $2.00M | $2.04M |
| Price per sq ft | $1.2K | $780 |
| Built year | 1950 | 1962 |
| HOA | $0 | $0 |
| Days on market | 20 | 65 |
Aug 20, 2026
$2,000,000
Initial Listing