$5,000,000

A superb investment opportunity in the Eastside of Costa Mesa, the Orange Avenue Apartments boasts eight generously sized apartment units and one non-conforming studio, offering immediate potential by converting the existing 3-car garage into one or two ADUs, complete with yards and existing assigned covered parking spaces. Architecturally, it blends single-story cottages at the front with two-story buildings at the rear, and each unit comes equipped with washer and dryer hookups, along with either a balcony or a yard. Consistent care and maintenance are evident throughout the property, from a well-maintained concrete driveway to recent interior unit renovations. Capital expenditures have included essential tasks such as full-tenting, wood repairs, and targeted roof replacements to ensure ongoing quality. Parking convenience is abundant, with a total of 23 spaces, including 15 garages, six surface spaces, and two tuck-under spaces. Each unit also comes with either a double-car garage or an attached single-car garage with an assigned open parking space. Additional surface and covered parking spaces are available for rent, and the property provides a substantial parking ratio of 2.5:1. Among the units, a noteworthy standout is the three-bedroom townhouse, featuring a spacious floor plan, a fireplace, a private pool and spa area, a sizable backyard, and a two-car attached garage. Location-wise, Orange Avenue Apartments enjoy a prime position in Eastside Costa Mesa, offering easy access to coastal destinations, dining establishments, and entertainment venues. The neighborhood also boasts quality schools, proximity to employment centers, and a wealth of recreational activities. For property viewings, please note that they are available via drive-by only, and we kindly request that you refrain from walking the property or disturbing residents. To inquire further or schedule visits, please reach out to our dedicated Listing Agents, we greatly appreciate your respect for resident privacy.