
Costa Mesa, California 92627
This property presents a High-Potential Investment Opportunity with a List Price of $2,000,000, which aligns with the $2,000,000 Fair Market Value. As a first-time offering in 60 years, this Residential Income asset features a Fair Condition Rating, signaling significant potential for modernization. The site offers Future Multi-Unit Redevelopment potential on two adjacent parcels, complemented by a prime location adjacent to Heller Park. This is a stable, income-generating acquisition ideal for Buy-and-Hold Investors or Developers seeking a strategic footprint in Costa Mesa.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 226 Knox Subject | $2,000,000* List Price | 4 | 2 | 1,627 | $1,229 | - |
A 220 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 60 years, this property exceeds the 50-year threshold with no evidence of major renovations. The listing explicitly markets the site for 'future multi-unit redevelopment,' indicating the primary value is in the land. The lack of interior photos and the presence of aged flat roofs and mismatched exterior structures suggest the systems and interiors are at the end of their functional life.
Situated directly adjacent to Heller Park with no side neighbors, the property offers exceptional privacy while being just blocks from 17th Street's vibrant dining scene and minutes from Newport Beach.
As a first-time offering in 60 years, this property presents a rare opportunity for future multi-unit redevelopment on two adjacent parcels in a high-demand Eastside Costa Mesa neighborhood.
The property serves as a stable income asset with three units already tenant-occupied, providing immediate cash flow for investors from the day of acquisition.
Built in 1950 and held by the same owner for over 60 years, the property likely requires significant modernization and capital improvements to meet contemporary luxury standards.
With individual units measuring approximately 813 sq. ft., the interior living space is relatively modest, which may limit long-term rental growth compared to larger modern builds.
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 | 6,255 | 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