180 Rochester Street
Property Description
Rare opportunity to acquire a fully occupied and extensively improved fourplex in highly coveted Eastside Costa Mesa. 180 Rochester Street features four matching two-bedroom, one-bath residences, providing an efficient and highly marketable unit mix with immediate rental income from day one. Each residence offers contemporary kitchens and bathrooms, upgraded flooring, doors, recessed lighting, appliances and design-forward finishes. Extensive remodeling and capital improvements completed between 2020 and 2026 include the roof, windows, interior and exterior walls, drain systems, fencing, landscaping, driveway and hardscape, substantially reducing near-term capital needs. Additional features include separate utility metering and a dedicated common laundry room. Parking is exceptional for the area, with a carport providing covered parking for up to seven vehicles and space for nine vehicles onsite in total. The property contains approximately 3,325 square feet of building area on an approximately 7,706-square-foot lot. Located within walking distance of the 17th Street corridor and close to the dining, shopping, recreation, Newport Beach access and lifestyle destinations that define Eastside Costa Mesa. With all four units currently occupied, the property offers a strong existing rent roll, immediate income and compelling long-term upside through future rent growth, continued tenant demand and the enduring value of a scarce four-unit Eastside asset. An ideal opportunity for a 1031-exchange buyer, private investor or long-term owner seeking a turnkey residential income property in one of Costa Mesa's most desirable rental markets.Broker Details
Weichman Associates Realtors (714) 444-4663
MLS ID: OCPIRRJAM State License Number: 02032331
Key Property Information
| Listing Status: | Under Contract |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | 2-4 Units |
| Price: | $2,999,995 |
| No. of Units: | 4 |
| Year Built: | 1962 |
| Opportunity Zone: | No |
| Price per unit: | $749,999 |
| Number of Bedrooms: | 2 |
| Number of Bathrooms: | 1 |
ID: 3yd-MRMLSCA-OC26182296
Investment Analyzer
Sponsored by:
Step 1Financing Calculation
Step 2Gross Rent Analysis
Please enter annual amounts.
Step 3Final Deal Analysis
Similar Properties in the Area
1028 N Hayworth Ave
West Hollywood, CaliforniaBrokers
View All-
Remax Professionals
Re/Max Real Estate Professionals | New York
-
Jared Ennis
Central CA Commercial | California
-
Rick Recckio
Recckio Real Estate & Development
-
Eamonn McConnell
Avison Young - CA - ON - Greater Toronto
Lenders
View AllManagement
View All-
Essex Property Trust, Inc.
California
-
Josh A
California
-
Bob Tuteur
-
Andrew Schildcrout