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228 Del Mar Avenue, Costa Mesa, California 92627, Costa Mesa, 92627 - bed, bath

228 Del Mar Avenue, Costa Mesa, California 92627 home-pic-0
ACTIVE$2,750,000
228 Del Mar Avenue, Costa Mesa, California 92627
0Bed
0Bath
2,600Sqft
7,405Lot

Price Vs. Estimate

The estimated value ($2,686,213.07) is $63,786.93 (2%) lower than the list price ($2,750,000). This property may be overpriced.

Key pros and cons

Top Pros:
Strong Income Generation & Multi-Family Potential: The property features two fully leased units generating a combined $8,200 per month, offering exceptional investment returns or ideal multi-generational living.
Top Cons:
Recent Price Reduction: The property has undergone a significant price reduction from $2.9995M to $2.75M, which may indicate initial overpricing or market resistance at the higher price point.

Compared to the nearby listings

Price:$2.75M vs avg $1.75M (+$1,000,000)83%
Size:2,600 sqft vs avg 1,762 sqft81%
Price/sqft:$1.1K vs avg $1.0K55%

More Insights

Built in 1950 (75 years old).
Condition: The property, originally built in 1950, has undergone significant renovations as described, with the front house being 'remodeled' and featuring an 'updated kitchen' and the back unit boasting a 'modern kitchen with breakfast bar and marble countertops.' Visible elements like hardwood floors, recessed lighting, and the modern laundry room (Image 2) support these claims, indicating recent updates. While the bathroom in Image 3 is clean and functional, its style (pedestal sink, shower curtain) suggests it might not be brand new or ultra-modern, preventing an 'Excellent' rating. However, the overall condition, explicit mention of air conditioning, and the property being fully leased and an 'exceptional investment' point to a well-maintained, move-in ready state with no immediate renovation needs, aligning with a 'Good' condition score.
Year Built
1950
Close
-
List price
$2.75M
Original List price
$3M
Price/Sqft
$1,058
HOA
-
Days on market
-
Sold On
-
MLS number
NP25104138
Home ConditionGood
Features
Patio
View-

About this home

Don't miss out on this rare chance to own a versatile property in the heart of Eastside Costa Mesa. This Charmer is situated on a 7405 sq ft lot and combined 2600 sq ft of living space. The front house is a great single family 3 bed 2 bath home. The back detached unit offers endless opportunities -use it as a private guest house, in-law suite, teen retreat, or generate passive income as a rental. Exceptional investment property with Excellent rental performance or multi-family living.The front remodeled house features 3 beds 2 baths, hardwood floors, a laundry room, an updated kitchen, air conditioning, along with a large detached bonus/office space and 2-car garage, approximately 1400 square feet. The back unit is approximately 1200 square feet above the garage, features its private entrance with a 2-bed 2-bath, modern kitchen with breakfast bar and marble counter tops, air conditioning, washer and dryer hook-ups, and a large 1-car garage. Quintessential Eastside Costa Mesa charmer has a large front yard, a picket fence, a concrete backyard, RV parking, and a large 10x20 storage area. This property has amazing curb appeal and is central to Newport Beach's Back Bay Nature preserve, 17th street shopping, A+ restaurants, and award-winning schools. Properties are fully leased. Front House $5200/per month, Back House $3000/per month. Don't miss out on this AMAZING OPPORTUNITY for an investor or owner-occupant buyer in the famed Eastside Costa Mesa community.

Nearby schools

8/10
Heinz Kaiser Elementary School
Public,•3-6•1.2mi
/10
Woodland Elementary School
Public,•PK-2•1.5mi
8/10
Mariners Elementary School
Public,•PK-6•2.2mi
8/10
Newport Heights Elementary School
Public,•K-6•3.9mi
4/10
Monroe Elementary School
Public,•K-5•4.1mi
7/10
Horace Ensign Intermediate School
Public,•7-8•3.2mi
3/10
Mcfadden Intermediate School
Public,•6-8•3.5mi
7/10
Newport Harbor High School
Public,•9-12•2.8mi
3/10
Century High School
Public,•9-12•5.4mi
Condition Rating
Good
The property, originally built in 1950, has undergone significant renovations as described, with the front house being 'remodeled' and featuring an 'updated kitchen' and the back unit boasting a 'modern kitchen with breakfast bar and marble countertops.' Visible elements like hardwood floors, recessed lighting, and the modern laundry room (Image 2) support these claims, indicating recent updates. While the bathroom in Image 3 is clean and functional, its style (pedestal sink, shower curtain) suggests it might not be brand new or ultra-modern, preventing an 'Excellent' rating. However, the overall condition, explicit mention of air conditioning, and the property being fully leased and an 'exceptional investment' point to a well-maintained, move-in ready state with no immediate renovation needs, aligning with a 'Good' condition score.
Pros & Cons

Pros

Strong Income Generation & Multi-Family Potential: The property features two fully leased units generating a combined $8,200 per month, offering exceptional investment returns or ideal multi-generational living.
Highly Desirable Eastside Costa Mesa Location: Situated in the heart of Eastside Costa Mesa, providing central access to Newport Beach's Back Bay Nature Preserve, upscale 17th Street shopping, A+ restaurants, and award-winning schools.
Versatile Dual-Unit Configuration: Comprises a remodeled 3-bedroom, 2-bathroom front house and a detached 2-bedroom, 2-bathroom back unit, offering flexibility for guest housing, in-law suite, or additional rental income.
Generous Lot Size & Outdoor Amenities: A substantial 7,405 sq ft lot includes a large front yard, RV parking, a concrete backyard, and a 10x20 storage area, enhancing outdoor utility and appeal.
Modern Updates & Comfort: Both units are updated with modern kitchens, air conditioning, and quality finishes like hardwood floors in the front house, ensuring contemporary living standards.

Cons

Recent Price Reduction: The property has undergone a significant price reduction from $2.9995M to $2.75M, which may indicate initial overpricing or market resistance at the higher price point.
Older Property Age: Built in 1950, despite updates, the property's age may present potential for underlying infrastructure concerns or higher long-term maintenance costs compared to newer constructions.
Lack of Scenic Views: The property description explicitly states 'view: None,' which can be a drawback in a desirable coastal market where scenic views often command a significant premium.

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