Property Detail

Description

984 El Camino Drive is a premier investment opportunity in the sought-after Mesa Del Mar neighborhood of Costa Mesa, CA. This pristine, turnkey property received an infusion of approximately $1.3 million in 2023, encompassing a full exterior renovation and complete interior remodel. Each unit was upgraded with modern, high-end finishes, offering residents top-quality living spaces. Many units feature brand-new in-unit laundry machines, and all are equipped with new air conditioning, heating systems, microwaves, ceiling fans, stainless steel appliances, sinks, and more. The property also offers excellent parking options, with four garages, spaces for four vehicles in front of the garages, and five additional open spots, providing an impressive 2:1 parking ratio. With a 5.1% cap rate based on current rents, this asset presents a compelling opportunity for investors looking for a turnkey property with solid, immediate cash flow potential.