998 Mission, Costa Mesa, California 92626, Costa Mesa, 92626 - 0 bed, 0 bath
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Costa Mesa, California 92626
This Prime Multi-Family Value-Add Asset represents a High-Potential Investment Opportunity with a List Price of $2,100,000—positioned below the $2,166,240 Fair Market Value by 3%. This valuation gap offers $66,240 in Instant Equity for buyers prepared to modernize this Condition Rating 5 quadruplex. Featuring R3 Zoning and proximity to the 9/10 rated Maude B. Davis Elementary, the property is primed for redevelopment or substantial renovation to capture high local rental demand. It is an ideal acquisition for Buy-and-Hold Investors or Value-Add Specialists.
Property is extensive renovation needed.
Built in 1964, this property is explicitly marketed as a 'value-add or redevelopment play,' indicating that the interior units and major systems likely require substantial rehabilitation. The listing details confirm significant renovation is required and highlight dated infrastructure, including a lack of modern amenities like central cooling. While the exterior appears maintained, the professional assessment identifies it as a candidate for either a full overhaul or demolition for new construction.
Elementary School: Maude B. Davis Elementary School (9/10).
Zoned R3 and configured as a quadruplex, this property offers a significant value-add or redevelopment opportunity in a high-demand Costa Mesa rental market.
Situated in a desirable neighborhood near Fairview Park and Mesa Verde Country Club, the property boasts excellent walkability and convenient access to the 405 freeway.
Lot size discrepancy between mls listing and other public or private record. mls listing lot size in square feet =6970, other record lot size in square feet = 7074.
Built in 1964, the property is positioned as a value-add play, indicating that substantial capital investment is likely required to modernize the units and infrastructure.
The age of the building and lack of modern amenities like central cooling or updated views may necessitate immediate repairs or upgrades to compete with newer local inventory.
Prime multi-family opportunity in the heart of Mesa Verde! This 1964-built property sits on a 6,970 sq ft lot with approximately 4,065 square feet of building area, zoned R3 for multiple units. Located on a quiet street in one of Costa Mesa’s most desirable neighborhoods, you’re just minutes from the Mesa Verde Country Club, Fairview Park, and easy access to the 405. Strong rental demand, walkable area, and solid bones make this a fantastic value-add or redevelopment play. Whether you’re looking to update the existing units or explore new construction potential, this is a rare chance to own in a proven Costa Mesa location.
No exterior & parking available.
Grades PK-6 • 0.2 mi
Grades PK-6 • 0.6 mi
Grades 7-12 • 0.7 mi
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 0.0 | 0.0 | 50% |
| Baths | 0.0 | 0.0 | 50% |
| Square foot | 4,087 | 3,039 | 75% |
| Lot Size | 6,970 | 7,595.5 | 25% |
| Price | $2.10M | $1.82M | 75% |
| Price per sq ft | $514 | $605 | 25% |
| Built year | 1964 | 1964 | 50% |
| HOA | $0 | $0 | 50% |
| Days on market | 10 | 139 | 25% |
Apr 12, 2026
$2,100,000
Initial Listing