283 Avocado Street Costa Mesa, CA 92627
Legitimate turnkey multifamily investment property offering a range of one-, two-, and three-bedroom loft-style floor plans. Substantial investment was made in 2023 and 2024, with over $1.8M in interior and exterior capital improvements. 100% of the interiors are fully renovated, including all new appliances, cabinets/counters, new electrical panels, flooring, painting and drywall, and all new windows and doors. Common area improvements include the roofs, painting, termite & pest mitigation, and tenting of the entire structure, exterior wood, decking, all new stairs and railings, all new asphalt, hardscape/softscape, mailboxes, plumbing, house electrical panels, and garage doors. ABOVE ALL, the debt component sets this project apart from nearly all other investments within the marketplace. Available to assume is a private note with a 51% LTV and interest-only payments until 2032 starting at 3.5%, with a cap at 5.0%, resulting in a blended interest rate of 4.61% over the term. This equates to an initial cash-on-cash return of over 4.5% with a down payment of $5,800,000no appraisal required, no points for the loan assumption, COE in 30 days or less.
- Property TypeMulti-Family
- NeighborhoodN/A
- CountyOrange
- Taxes$0
- HOA/Condo/Coop Fees$0
- Days on Site43 Days
- MLS StatusContingent
- MLS ID NumberOC24013316
- Home Size Source N/A
- Year BuiltN/A
- Lot Size0.85 Acres
- Full BathsN/A
- Partial BathsN/A
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General Features
- Terms Exchange
- Stories 2 Story
Exterior Features
- Pool Community/Common