1022 W Wilson ST Active Save Request In-Person Tour Request Virtual Tour
Costa Mesa,CA 92627
Key Details
Property Type Single Family Home
Sub Type Single Family Residence
Listing Status Active
Purchase Type For Sale
Square Footage 6,300 sqft
Price per Sqft $284
Subdivision ,New
MLS Listing ID NP24202018
Bedrooms 12
Full Baths 10
Half Baths 2
Lot Size 10,815 Sqft
Property Description
INVESTORS & BUILDERS, close on this 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 have been created from this prime oversized lot of 10,817 SF. Each new lot will be approx. 53' wide by 102' deep, totaling 5,406 SF. On each lot will be 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. Features will 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? Reach out to Bixby Residential and allow us to consult with you on your options, connect you with our development team, and introduce you to potential contractors for the build out should you need one. *NOTE: Listing has supplements--SEE BROCHURE WITH RENTAL AND SALES COMPS.
Location
State CA
County Orange
Area C2 - Southwest Costa Mesa
Zoning R2MD
Rooms
Ensuite Laundry Inside,Laundry Room,Stacked,Upper Level
Interior
Laundry Location Inside,Laundry Room,Stacked,Upper Level
Heating Forced Air
Cooling Central Air
Flooring Tile,Wood
Fireplaces Type None
Laundry Inside,Laundry Room,Stacked,Upper Level
Exterior
Garage Direct Access,Garage,Oversized
Garage Spaces 4.0
Garage Description 4.0
Fence Block,Vinyl
Pool None
Community Features Biking,Curbs,Dog Park,Golf,Gutter(s),Storm Drain(s),Street Lights,Suburban,Park
Utilities Available Cable Available,Electricity Connected,Natural Gas Connected,Sewer Connected,Water Connected
View Y/N No
View None
Roof Type Composition,Metal
Building
Lot Description Back Yard,Drip Irrigation/Bubblers,Front Yard,Landscaped,Near Park,Sprinklers Timer
Dwelling Type House
Story 2
Foundation Slab
Sewer Public Sewer
Water Public
New Construction No
Schools
School District Newport Mesa Unified
Others
Acceptable Financing Cash to New Loan
Listing Terms Cash to New Loan
Special Listing Condition Standard