2642 Westminster Place, Costa Mesa, California 92627, Costa Mesa, 92627 - 3 bed, 2 bath
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Costa Mesa, California 92627
This Shovel-Ready Development Asset is listed at $2,695,000, positioned above the $2,478,780 Fair Market Value due to its significant entitlements and rare land utility. The value is anchored in the Exceptional Development Versatility of the 9,120 sq. ft. lot, which includes city-approved plans for a 4,418 sq. ft. luxury home. Featuring a Functional Condition Rating, the site supports subdividing or building multiple units near Top-Rated Mariners Elementary. This project offers massive ROI potential for Real Estate Developers or Custom Home Builders seeking a premium Eastside Costa Mesa location.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 2642 Westminster Place Subject | $2,695,000* List Price | 3 | 2 | 1,785 | $1,389 | - |
A 2691 Club Mesa Sold | $1,995,000 | 4 | 2 | 1,809 | $1,103 | 0.2 mi |
B 2650 Riverside Drive Sold | $2,500,000 | 3 | 3 | 1,981 | $1,262 | 0.3 mi |
C 337 Vista Baya Sold | $2,500,000 | 3 | 3 | 2,000 | $1,250 | 1.0 mi |
D 269 Cecil Place Sold | $2,280,000 | 4 | 2 | 1,832 | $1,245 | 1.0 mi |
E 2553 Fairway Drive Active Under Contract | $2,595,000 List Price | 3 | 2 | 1,782 | $1,456 | 0.2 mi |
* Subject property listed price vs sold prices of comps.
Property is move-in ready.
Although originally built in 1952, the property has been well-maintained and partially remodeled, making it move-in ready. The interior features updated hardwood flooring, vaulted wood-plank ceilings, and modern mini-split HVAC systems. The kitchen has been refreshed with painted cabinetry, stone countertops, and high-end stainless steel appliances. While the listing highlights the property's significant development and 'tear-down' potential due to the large lot size and approved plans, the current physical condition of the home is functional and well-kept.
The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 9120, living area = 1785.
The oversized 9,120+ sq. ft. lot offers rare flexibility for Eastside Costa Mesa, providing options to build a massive custom estate, subdivide into two lots, or develop up to four units.
The property includes city-approved plans for a 4,418 sq. ft. luxury home, along with soils reports and boundary surveys, saving the buyer significant time and entitlement costs.
Bedroom count discrepancy between mls listing and other public or private record. mls listing bedroom count = 3, other record bedroom count = 4.
The $2.695M price point is primarily driven by development potential, making the existing 1952 structure a secondary asset that may not appeal to traditional move-in buyers.
To realize the property's highest and best use, a buyer must have significant additional liquidity to fund a major construction project or a complete tear-down.
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 !
No exterior & parking available.
Grades 3-6 • 1.3 mi
Grades PK-2 • 1.5 mi
Grades PK-6 • 2.2 mi
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 3.0 | 3.0 | 50% |
| Baths | 2.0 | 3.0 | 47% |
| Square foot | 1,785 | 1,769 | 52% |
| Lot Size | 9,120 | 6,839 | 94% |
| Price | $2.69M | $1.65M | 83% |
| Price per sq ft | $1.5K | $1.0K | 92% |
| Built year | 1952 | 1956 | 14% |
| HOA | $0 | $0 | 50% |
| Days on market | 15 | 168 | 3% |
Apr 7, 2026
$2,695,000
Initial Listing
Nov 23, 2022
$1,620,000
Public Record