$2,599,999
$257M PRICE DROP

1925 Wallace Ave Costa Mesa, CA 92627

Westside Costa Mesa Neighborhood

Estimated payment $15,056/month

Total Views 2,630
8 Beds
5 Baths
3,788 Sq Ft
$686 Price per Sq Ft

Highlights

  • 0.42 Acre Lot
  • Detached Garage
  • Water Conditioner
  • Fenced Yard
  • Ceiling Fan
  • West Facing Home

About This Home

Unique opportunity for Value-Add Investment. Two contiguous properties totaling 18,295 sq. ft of land. Front property consists of (4) two bedroom, 1/2 bath units. Existing leases are all short term, two units will be delivered vacant thus giving the new buyer to increase rents. Back lot is all paved in asphalt and the City of Costa Mesa will approve the development of 3 additional residential units.

Listing Agent

Joe Winkelmann

Colliers International Greater Los Angel License #01259378 Listed on: 01/06/2026

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1960

Lot Details

  • 0.42 Acre Lot
  • West Facing Home
  • Fenced Yard
  • Back and Front Yard

Interior Spaces

  • 3,788 Sq Ft Home
  • 2-Story Property
  • Ceiling Fan

Kitchen

  • Oven or Range
  • Microwave
  • Freezer
  • Ice Maker
  • Dishwasher

Bedrooms and Bathrooms

  • 8 Bedrooms
  • 5 Bathrooms

Parking

  • Detached Garage
  • On-Street Parking
  • Uncovered Parking

Utilities

  • Water Conditioner

Community Details

  • 4 Units
  • Low-Rise Condominium

Listing and Financial Details

  • The owner pays for water
  • Assessor Parcel Number 422-271-16

Property Details

Home Type

Multi-Family

Year Built

Built in 1960

Lot Details

0

Listing Details

  • Property Type: Residential Income
  • Style: Low Rise
  • Levels: Two
  • Street Number Display: Yes
  • Additional Assessor Parcel Numbers: Yes
  • Living Area: 3788
  • Lot Acreage: 0.4200
  • Probate: No
  • Property Condition: No Additions/Alter
  • Stories: 2
  • Year Built: 1960
  • State Abbrv: CA
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Number Carpet: 0
  • Bedrooms: 8
  • Common Walls: Attached
  • Total Bathrooms: 5.00
  • Equipment: Ceiling Fan, Microwave, Water Conditioner, Refrigerator, Ice Maker, Range/Oven, Dishwasher, Freezer
  • Price Per S Q F T: 686.38

Exterior Features

  • Direction Faces: West
  • Other Structures: None
  • View: No

Garage/Parking

  • Parking Garage: Uncovered, On street, Detached

Utilities

  • Water Heaters: Yes

Lot Info

  • Assessed Improvement Percent: 10.71
  • Assessed Improvement Value: 153000
  • Assessed Land Percent: 89.29
  • Assessed Land Value: 1275000
  • Total Assessed Value: 1428000
  • Assessor Parcel Number: 422-271-16
  • Lot Description: Back Yard, Fenced Yard, Front Yard
  • Lot Size Area: 18295

Rental Info

  • Owner Pays: Water
  • Tenant Pays: Gas, Electricity, Cable TV

Multi Family

  • Unit Type: 2106, 2107, 2108, 2109
  • Number Of Units: 4
  • Type Of Units: Low-Rise Apt

Map

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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2025 $18,497 $1,485,691 $1,326,510 $159,181
2024 $18,497 $1,456,560 $1,300,500 $156,060
2023 $17,845 $1,428,000 $1,275,000 $153,000
2022 $17,247 $1,400,000 $1,250,000 $150,000
2021 $3,746 $143,767 $45,774 $97,993
2020 $3,653 $142,293 $45,304 $96,989
2019 $3,559 $139,503 $44,415 $95,088
2018 $3,482 $136,768 $43,544 $93,224
2017 $3,445 $134,087 $42,690 $91,397
2016 $3,397 $131,458 $41,853 $89,605
2015 $3,366 $129,484 $41,224 $88,260
2014 $3,311 $126,948 $40,416 $86,532
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
01/06/2026 01/06/26 For Sale $2,599,999 0.0% $686 / Sq Ft
12/31/2025 12/31/25 Off Market $2,599,999 -- --
12/02/2025 12/02/25 Price Changed $2,599,999 -99.0% $686 / Sq Ft
01/23/2023 01/23/23 For Sale $259,900,000 -- $68,611 / Sq Ft
Source: The MLS

Source: The MLS

MLS Number: 25623849

The MLS
California Orange County Costa Mesa 92627 Westside Costa Mesa

1925 Wallace Ave, Costa Mesa, CA

For Sale

MultiFamily

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Joe Winkelmann
Listing Agent
Joe Winkelmann
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Colliers International Greater Los Angel
(949) 796-8788