5
See all 5 photos
$2,250,000
Est. payment /mo
0.43 Acres Lot
New
2028 Wallace AVE Costa Mesa, CA 92627
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Key Details
Property Type Vacant Land
Listing Status Active
Purchase Type For Sale
Subdivision Downtown Costa Mesa
MLS Listing ID NP25117522
HOA Y/N No
Lot Size 0.426 Acres
Property Description
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) 2BR/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.
Location
State CA
County Orange
Area C4 - Central Costa Mesa
Zoning R2-HD
Interior
Fireplace No
Exterior
Community Features Biking, Curbs, Storm Drain(s), Street Lights, Sidewalks
View Y/N No
View None
Building
Lot Description 6-10 Units/Acre
Water Public
New Construction No
Others
Senior Community No
Tax ID 42225216
Acceptable Financing Cash, Cash to New Loan
Listing Terms Cash, Cash to New Loan
Special Listing Condition Standard
Listed by Nick Gould • Gould Group Inc • ng@gouldgroupinc.com