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283 Avocado Street
USD 12,000,000
Property ID: OC24013316
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283 Avocado Street ,92627
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icon 37026 SqFt
icon Built in 1973
icon USD 324/SqFt
icon 0 Bed
icon 0 Full
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Location Street View
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Interior Details
Bedrooms
0
Bathrooms
0
Interior Size
14159
Construction Details
Property Type --
Property Condition --
Architectural Style --
New Construction --
Year Built 1973
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Detailed Introduction Of This Home
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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Contact Development/Agent
Cissy Tang
TEL: (+1)626 9868**** icon
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Contact Development/Agent
icon
Cissy Tang
(+1)626 9868**** icon
Please enter your nationality
+87
Cannot be empty
Email address is invalid Email address not authenticated!
Cissy Tang
(+1)626 9868**** icon
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Photos (16)
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283 Avocado Street
USD 12,000,000 0 Beds
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