1022 W Wilson Street Costa Mesa, CA 92627
3 Beds
4 Baths
1,630 SqFt
UPDATED:
01/25/2025 11:44 AM
Key Details
Property Type Single Family Home
Sub Type Detached
Listing Status Active
Purchase Type For Sale
Square Footage 1,630 sqft
Price per Sqft $1,134
MLS Listing ID NP24202018
Style Detached
Bedrooms 3
Full Baths 2
Half Baths 2
Construction Status Under Construction
HOA Y/N No
Year Built 1949
Lot Size 10,817 Sqft
Acres 0.2483
Property Description
INVESTORS & BUILDERS, close on this single family home and excellent development opportunity with City entitlements, final County map, and full sets of permit ready plans. City of Costa Mesa approved lot split using their Small Lot Ordinance (SLO) guidelines. 2 nearly identical lots can be created from this prime oversized lot of 10,817 SF. Each new lot would be approx. 53' wide by 102' deep, totaling approx. 5,406 SF. On each lot you can build one 2-story, 4 bed & 3.5 bath front house of 2,266 SF, plus a single level detached ADU in the back with 2 beds & 2 baths in 884 SF. Architecture is coastal modern farmhouse by Bryant Palmer & Soto. The plans include high volume and vaulted ceilings, great rooms and lofts, upstairs laundry rooms, indoor/outdoor feel, oversized garages, private yards, separate gated entries, welcoming front porches and patios. ADUs will have separate and private entries and all yards will be privately fenced. All units separately metered with electric and gas. Outdoor spaces by BGB Design Group will be soothing places to rest, rejuvenate and entertain with California friendly landscaping and practical yet aesthetically pleasing hardscape surfaces. Just around the corner are Fairview Park and Talbert Nature Preserve, and Santa Ana River trails with beach access. Just a few blocks from excellent Waldorf School. These homes and ADUs will be terrific residences for their occupants. Conservative rental pro forma is $6,500-$7,000/mo for the front houses and $3,500-$3,750/mo for the ADUs. The development project offers many options for the lucky buyer: 1.) Develop and sell for profit; 2.) Develop and rent all units out, then hold for the long-term appreciation and tax write offs; 3.) Build for yourself and move into one and rent the others; 4.) Build both lots, then sell one off to pay for the one you keep; and/or 5.) Purchase for your 1031 exchange to defer capital gains taxes. What is your plan? *NOTE: Listing has supplements--SEE BROCHURE WITH RENTAL AND SALES COMPS.
Location
State CA
County Orange
Area Oc - Costa Mesa (92627)
Zoning R2MD
Interior
Cooling Central Forced Air
Flooring Tile, Wood
Equipment Dishwasher, Microwave, Refrigerator, Solar Panels, Gas Oven, Gas Range
Appliance Dishwasher, Microwave, Refrigerator, Solar Panels, Gas Oven, Gas Range
Laundry Closet Stacked, Laundry Room, Inside
Exterior
Exterior Feature Stucco
Parking Features Direct Garage Access, Garage
Garage Spaces 4.0
Fence Vinyl
Utilities Available Cable Available, Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected
Roof Type Composition,Metal
Total Parking Spaces 4
Building
Lot Description Curbs, Landscaped
Story 1
Lot Size Range 7500-10889 SF
Sewer Public Sewer
Water Public
Architectural Style Custom Built, Ranch, Traditional
Level or Stories 1 Story
New Construction Yes
Construction Status Under Construction
Others
Monthly Total Fees $94
Miscellaneous Gutters,Storm Drains,Suburban
Acceptable Financing Cash To New Loan
Listing Terms Cash To New Loan
Special Listing Condition Standard
