2842 Velasco, Costa Mesa, California 92626, Costa Mesa, 92626 - 4 bed, 3 bath
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Costa Mesa, California 92626
This Spacious Mesa Del Mar Residence is a Strong Value Opportunity, listed at $1,499,000—positioned well below the $1,620,686 Fair Market Value by 7%. This valuation gap provides $121,686 in Instant Equity for the incoming buyer. Boasting a Good Condition Rating, the home features a substantial 2,712 square foot floor plan and a private backyard with a patio. Located in the Newport Mesa Unified District near the 9/10 rated Maude B. Davis Elementary, it perfectly balances lifestyle and financial upside. This is an ideal acquisition for Owner-Occupants seeking space or Buy-and-Hold Investors looking for a stable asset in a prime coastal pocket.
Property is move-in ready.
The property is in move-in ready condition and has been well-maintained with significant updates. While originally built in 1962, the interior features modern recessed lighting, crown molding, and a mix of large-format tile and hardwood flooring. The kitchen and bathrooms have been updated with granite countertops and custom tile work; however, the oak cabinetry and mix of white and stainless appliances suggest the renovations are likely 10-15 years old, placing it firmly in the 'good' category rather than 'excellent'.
Elementary School: Maude B. Davis Elementary School (9/10).
Situated in the highly sought-after Mesa Del Mar neighborhood, this home offers exceptional proximity to Newport Mesa's premier shopping, dining, and coastal lifestyle amenities.
The property is ideally located within walking distance of high-performing schools, including Sonora Elementary (8/10) and Maude B. Davis Elementary (9/10), providing significant value for families.
Living area discrepancy between mls listing and other public or private record. mls listing living area = 2712, other record living area = 2216.
Built in 1962, the property may require capital improvements or modernization of its original systems to meet the efficiency and aesthetic standards of contemporary luxury buyers.
The listing indicates no significant views, which may be a competitive disadvantage compared to other properties in the coastal Orange County market at this price point.
Welcome to 2842 Velasco Lane in the desirable Newport Mesa area, located within the highly sought-after Mesa del Mar neighborhood of Costa Mesa. This beautifully maintained 4-bedroom, 3-bathroom home offers approximately 2,712 square feet of thoughtfully designed living space, blending comfort, style, and everyday functionality.Filled with natural light, the open and inviting floor plan features spacious living areas with seamless indoor-outdoor flow ideal for both entertaining and relaxed living. The well-appointed kitchen provides abundant cabinetry and generous workspace, opening to a warm dining area and comfortable living room, creating a perfect central gathering space. Generously sized bedrooms offer flexibility and privacy, including a spacious primary suite. Step outside to a private backyard retreat, perfect for enjoying Southern California’s year-round sunshine, outdoor dining, or weekend gatherings. Situated in a prime Newport Mesa location near parks, shopping, dining, and top-rated amenities, this home presents an exceptional opportunity to enjoy the best of coastal Orange County living.
No exterior & parking available.
Grades PK-6 • 0.1 mi
Grades PK-6 • 0.6 mi
Grades 7-12 • 0.8 mi
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 4.0 | 4.0 | 50% |
| Baths | 3.0 | 2.0 | 54% |
| Square foot | 2,712 | 1,881 | 91% |
| Lot Size | 7,178 | 6,696 | 66% |
| Price | $1.50M | $1.55M | 44% |
| Price per sq ft | $553 | $889 | 2% |
| Built year | 1962 | 1965 | 35% |
| HOA | $0 | $0 | 50% |
| Days on market | 7 | 139 | 1% |
Apr 15, 2026
$1,499,000
Initial Listing
Feb 28, 2002
$379,000
Public Record
Jun 8, 2000
$282,000
Public Record