2642 Westminster Place, Costa Mesa, California 92627, Costa Mesa, 92627 - 3 bed, 2 bath
ACTIVE$2,995,000
2642 Westminster Place, Costa Mesa, California 92627
3Beds
2Baths
1,785Sqft
9,120Lot
Price Vs. Estimate
The estimated value ($2,794,697.34) is $200,302.66 (6%) lower than the list price ($2,995,000). This property may be overpriced.
Key pros and cons
Top Pros:
Exceptional Development & Income Potential: The large 9,120+ sq. ft. lot and flexible zoning allow for significant expansion, a new custom build, ADU conversion, lot subdivision for two new homes (each with ADU), or even two duplexes (4 units), offering diverse investment strategies.
Top Cons:
Age and Condition of Existing Structure: Built in 1952, the current 1,785 sq.ft. home, despite being maintained, is likely viewed as a tear-down or extensive renovation project by most buyers, meaning the value is primarily in the land.
Compared to the nearby listings
Price:$3.00M vs avg $1.75M (+$1,245,000)84%
Size:1,785 sqft vs avg 1,762 sqft52%
Price/sqft:$1.7K vs avg $1.0K95%
More Insights
Built in 1952 (73 years old).
Condition: Built in 1952, this property has been maintained and features some functional updates like mini-split AC units and a walk-in shower. However, the kitchen cabinets appear to be painted older units, and elements like the wood-paneled ceilings, mirrored closet doors, and some wall textures indicate that while the home is livable and clean, its style is largely outdated. It requires further updates to meet current aesthetic standards, aligning with the 'Fair' condition criteria where major components are functional but show signs of being outdated, and renovations are not recent or extensive enough to be considered 'Good'.
Year Built
1952
Close
-
List price
$3M
Original List price
$3M
Price/Sqft
$1,678
HOA
-
Days on market
-
Sold On
-
MLS number
OC25176942
Home ConditionFair
Features
View-
About this home
Located at one of the best cul de sacs in Eastside Costa Mesa, this house is one of the few originals ones on this block. Throughout the years, this house has been remodeled and maintained. The existing house which sits on a large 9100+ sq. ft. lot has many development possibilities; it can be expanded or torn down and a large custom one built, the 700+ sq.ft. detached garage/bonus room can be converted into an ADU, the lot can be subdivided and2 new homes built (each with an ADU), or 2 duplexes can be built (4 units). This sale includes approved plans (by the planning department) for a 4418 sq.ft. 4br + office, 4.5bath with 2 car garage, soils and AQMD reports, and boundary survey. Located near the sandy beaches of Newport, the back bay hiking, biking, and horse trails, award winning schools, world class shopping centers of South Coast Plaza and Fashion Island, world class dinning, and places of worship. Bring your architect and your builder and develop your dream project !
Nearby schools
8/10
Heinz Kaiser Elementary School
Public,•3-6•1.3mi
/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•4.0mi
4/10
Monroe Elementary School
Public,•K-5•4.0mi
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
Fair
Built in 1952, this property has been maintained and features some functional updates like mini-split AC units and a walk-in shower. However, the kitchen cabinets appear to be painted older units, and elements like the wood-paneled ceilings, mirrored closet doors, and some wall textures indicate that while the home is livable and clean, its style is largely outdated. It requires further updates to meet current aesthetic standards, aligning with the 'Fair' condition criteria where major components are functional but show signs of being outdated, and renovations are not recent or extensive enough to be considered 'Good'.
Pros & Cons
Pros
Exceptional Development & Income Potential: The large 9,120+ sq. ft. lot and flexible zoning allow for significant expansion, a new custom build, ADU conversion, lot subdivision for two new homes (each with ADU), or even two duplexes (4 units), offering diverse investment strategies.
Pre-Approved Development Plans & Reports: The inclusion of approved plans for a substantial 4,418 sq.ft. custom home, along with essential soils and AQMD reports, significantly streamlines and de-risks the development process for a buyer.
Prime Eastside Costa Mesa Location: Situated on a desirable cul-de-sac in Eastside Costa Mesa, offering proximity to Newport beaches, recreational trails, top-rated schools, and world-class shopping and dining.
Generous Lot Size: The expansive 9,120+ sq. ft. lot provides ample space for various development projects, a rare and valuable asset in this sought-after urban coastal community.
Desirable Cul-de-Sac Setting: The property's location on a cul-de-sac offers enhanced privacy, reduced traffic, and a quieter, safer environment, contributing to a higher quality of life.
Cons
Age and Condition of Existing Structure: Built in 1952, the current 1,785 sq.ft. home, despite being maintained, is likely viewed as a tear-down or extensive renovation project by most buyers, meaning the value is primarily in the land.
High Price Point for Land Value: The nearly $3 million list price reflects the significant development potential and prime location, but it positions the property outside the budget of buyers seeking a traditional move-in ready home, narrowing the target market to developers or high-net-worth individuals.
Lack of Scenic Views: The property description explicitly states 'view: None,' which could be a disadvantage in a coastal market where buyers often seek ocean or city views, potentially limiting its appeal to some luxury buyers.