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$12,000,000
42 Days Online

283 Avocado Street
Costa Mesa, CA 92627

For Sale|Multi-Family|Active
Subdivision:
College Park (Colp)
County:
Orange
Listed by Tyler Leeson of Marcus & Millichap RE Invest 714-713-9086
Call Now: 949.375.4430
Is this the home for you? We can help make it yours.
949.375.4430
283 Avocado Street283 Avocado Street283 Avocado Street283 Avocado Street
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Two83 Lofts is a standout multifamily investment property located in Costa Mesa, CA. It offers a range of one-, two-, and three-bedroom floor plans featuring unique lofts—a distinctive feature in Costa Mesa's rental market. A substantial investment was made in 2023, with over $1.5 million allocated to capital expenditures. Interior renovations include all appliances, cabinets/counters, electrical work, flooring, HVAC systems, painting and drywall, and all new windows and doors. Common area improvements encompass the roof, painting, termite mitigation and tenting of the entire structure, exterior wood, decking, all new stairs and railings, 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 50% LTV and interest-only payments for nine years, 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 4.2% with a down payment of $6,000,000.

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Listing Snapshot
Price 
$12,000,000
Days Online 
42 Days
Bedrooms 
N/A
Inside Area (SqFt) 
14,159 sqft
Total Baths 
N/A
Full Baths 
N/A
Partial Baths 
N/A
Lot Size 
0.85 Acres
Year Built 
1973
MLS Number 
OC24013316
Status 
Active
Property Tax 
N/A
HOA/Condo/Coop Fees 
N/A
Sq Ft Source 
N/A
Friends & Family
Recent Activity
a month agoListing updated with changes from the MLS
a month agoListing first seen online
General Features
Parking Spaces 
38
Sewer 
Public Sewer
Number of Stories 
2
Acreage 
0.85
Water 
Public
Property Sub Type 
Apartment
Garage Spaces 
13
Listing Conditions 
Standard
Interior Features
Laundry Features 
Common Area
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Exterior Features
Pool Features 
CommunityFenced
Lot 
Street Level
Community Features
Association Dues 
0
Community Features 
CurbsSidewalksPool
Senior Community 
No
MLS Area 
C4 - Central Costa Mesa


This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. The display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, the Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.

Neighborhood & Commute
Source: Walkscore
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