
Costa Mesa, California 92626
This property presents a Strong Value Opportunity with a List Price of $1,400,000—positioned well above the $1,292,357 Fair Market Value by -8%. Featuring a Condition Rating of 6, the existing structure requires extensive renovation, making it a prime candidate for major redevelopment. Located on a coveted street in Mesa Verde, the 6,912 sqft lot offers significant upside for new construction. This is a high-reward acquisition ideal for Fix-and-Flip Investors or Contractors seeking a strategic project in a transforming neighborhood.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 3076 Madeira Subject 3 bd · 2 ba · 1,697 sqft · $762 | $1,400,000* List Price | 3 | 2 | 1,697 | $762 | - |
A 1732 Missouri Sold 3 bd · 2 ba · 1,614 sqft · $869 · 0.5 mi | $1,403,000 | 3 | 2 | 1,614 | $869 | 0.5 mi |
B 2968 Ceylon Sold 3 bd · 2 ba · 1,768 sqft · $925 · 0.3 mi | $1,635,000 | 3 | 2 | 1,768 | $925 | 0.3 mi |
* Subject property listed price vs sold prices of comps.
Property is land value only, full reconstruction required.
Built in 1959 (>65 years old) with no recorded renovations. The listing explicitly states the property requires extensive renovation or redevelopment, is 'Cash Only,' and will not qualify for conventional financing, indicating it is being sold for land value.
Situated on a quiet, low-traffic street in one of Costa Mesa's most desirable neighborhoods, offering a strong sense of community and long-term value.
The property is located in a pocket undergoing a luxury transformation with new custom homes, providing an ideal canvas for a major renovation or new construction.
Families will benefit from access to highly-regarded schools within the Newport Mesa Unified district, including California Elementary which boasts an 8/10 rating.
The existing structure is in poor condition and sold strictly 'as-is,' necessitating a substantial additional investment for redevelopment or a complete overhaul.
The property does not qualify for conventional financing, limiting the potential buyer pool to those with immediate liquid capital.
**AN EXCEPTIONAL OPPORTUNITY ON ONE OF MESA VERDE'S MOST COVETED STREETS.** Welcome to the southern end of Madeira Avenue, a special pocket of Mesa Verde where quiet streets, wonderful neighbors, and an unmistakable sense of community create the kind of neighborhood people dream of calling home. Just moments from where Madeira meets the peaceful, dead-end stretch of Ceylon, this interior location enjoys very little through traffic and a relaxed residential atmosphere. Something exciting is happening along Madeira and Ceylon. Beautiful new custom homes and ambitious renovations are transforming these streets, creating an increasingly desirable collection of residences while preserving the neighborhood's established charm. Here is an opportunity to be part of that transformation. The existing single-story home requires extensive renovation and is best suited for a major redevelopment or potential new construction, subject to city approvals. For the discerning buyer, builder, or investor, the value lies in the exceptional location and the opportunity to create a remarkable home surrounded by others who are doing just that. **CASH ONLY.** Property is being sold strictly AS IS and will not qualify for conventional financing. Seller will make no repairs or provide credits. Buyers to independently verify all redevelopment possibilities and property conditions.
No exterior & parking available.
Grades K-6 • 0.5 mi
Grades PK-6 • 0.6 mi
Grades 7-8 • 0.5 mi
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 3.0 | 3.7 |
| Baths | 2.0 | 2.7 |
| Square foot | 1,697 | 1,808.331 |
| Lot Size | 6,912 | 6,450.805 |
| Price | $1.40M | $1.68M |
| Price per sq ft | $825 | $962 |
| Built year | 1959 | 1961 |
| HOA | $0 | $302 |
| Days on market | 4 | 51 |
Oct 21, 2026
$1,400,000
Initial Listing