2028 Wallace Ave Unit C Costa Mesa, CA 92627
Westside Costa Mesa NeighborhoodEstimated payment $14,180/month
Highlights
- 0.43 Acre Lot
- Bike Trail
- 1-Story Property
- Laundry Room
About This Home
Welcome to 2028 Wallace Avenue, a rare multifamily/redevelopment investment opportunity located in the heart of Costa Mesa’s rapidly evolving Westside. Situated on a massive lot, this three-unit property features an attractive unit mix consisting of (1) 3BR/2.5BA and (2) 1BR/1BA units across approximately 2,299 SF of existing living space. Positioned within the Mesa West Urban Plan and a federally recognized Opportunity Zone, 2028 Wallace offers significant upside potential. Investors have the opportunity to modernize the existing units, add Accessory Dwelling Units (ADUs), or redevelop the site entirely by leveraging the increased density allowances of the Mesa West Specific Plan. The Opportunity Zone designation further enhances the appeal with the potential for long-term tax advantages.
Listing Agent
Gould Group Inc Brokerage Email: ng@gouldgroupinc.com License #01521955 Listed on: 05/27/2025
Property Details
Home Type
- Multi-Family
Year Built
- Built in 1956
Lot Details
- 0.43 Acre Lot
- 1 Common Wall
- Density is 6-10 Units/Acre
Parking
- 7 Car Garage
- Parking Available
- Assigned Parking
Home Design
- Apartment
- Entry on the 1st floor
Interior Spaces
- 2,299 Sq Ft Home
- 1-Story Property
Bedrooms and Bathrooms
- 4 Bedrooms
- 4 Bathrooms
Laundry
- Laundry Room
- Washer and Gas Dryer Hookup
Outdoor Features
- Exterior Lighting
Listing and Financial Details
- Legal Lot and Block 15 / C
- Tax Tract Number 612
- Assessor Parcel Number 42225216
- $2,053 per year additional tax assessments
Community Details
Overview
- 2 Buildings
- 3 Units
- Costa Mesa Residential Income Subdivision
Recreation
- Bike Trail
Building Details
- Rent Control
- 3 Separate Electric Meters
- 3 Separate Gas Meters
- 1 Separate Water Meter
- Gross Income $62,400
- Net Operating Income $62,400
Map
Home Values in the Area
Average Home Value in this Area
Property History
Date | Event | Price | List to Sale | Price per Sq Ft |
---|---|---|---|---|
05/27/2025 05/27/25 | For Sale | $2,250,000 | -- | $979 / Sq Ft |
Source: California Regional Multiple Listing Service (CRMLS)
MLS Number: NP25117556

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