631 Shalimar Drive, Costa Mesa, CA 92627
Property
Sold April 2024
Listing Agent: Justin White (DRE #01267826) · Listing Office: Justin White · Contact: thesbgbp@gmail.com · Bought with: Christopher Phipps · 1 Percent Lists SoCal · MLS #PW24047406 · Source: CRMLS
About this property
Coastal apartments have long been a favored choice among real estate investors due to their promising appreciation rates and strong rental income potential. In this regard, Costa Mesa has emerged as an increasingly attractive option, propelled by factors such as gentrification, substantial growth, the general appeal of renting among young professionals, and its proximity to the thriving real estate markets of Newport Beach and Huntington Beach. The subject property is less than a quarter mile to Eastside Costa Mesa, the bustling retail hub on 17th Street, and the 55 freeway. Additionally, the property is located approximately 1.25 miles from the Pacific Coast Highway (PCH). There are four large sized 1-bedroom 1- bath units in well-maintained condition. Among the appealing aspects of this property is its adjacency to a variety of retail establishments, including PetSmart, Trader Joe's, O'Reilly's Auto Parts, and Walgreens, thereby enriching the overall quality of life needed for its 1-bedoom renting tenants. Considering its prime location, substantial rental growth potential, and the prospect of securing excellent tenants, this property stands as a valuable addition to an investor's expanding portfolio or as an ideal starting point for someone entering the real estate market.
Listing description from the April 2024 sale, as reported to CRMLS.
Sale history