118 Magnolia Street, Costa Mesa, CA 92627 (MLS # NP23199333)

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PRICE $1,999,000 dsIDX morgage calculator
BEDS n/a
BATHS 0
HOME SIZE 1,739 sqft
LOT SIZE 4,030 sqft

Nestled within the prized Eastside Costa Mesa neighborhood, a mere 1.7 miles from the breathtaking shores of Newport Beach, this prime property presents an exceptional investment opportunity. Boasting an attractive location within walking distance of Triangle Square, 17th Street's delectable restaurants, grocery stores, salons, and esteemed Newport Beach Schools, this dual detached home offering displays a coveted blend of convenience and potential for excellent rental income.The first dwelling, Unit A, began as a one-bedroom, one-bath main house but was thoughtfully expanded in 2020 to include dual master suites, resulting in a spacious 3-bedroom layout with three walk-in showers. This configuration is ideal for room-sharing or accommodating multi-adult households. The home has seen comprehensive updates, including a rejuvenated kitchen, flooring, bathrooms, and windows. Partial siding replacement and a new roof in 2020 further enhancing its appeal. Unit A enjoys the use of the detached two-car garage and shares a common outdoor area.Unit B, on the other hand, is a brand-new construction dwelling completed in 2022. This second-story portion of the property features one bedroom, one bath, a full-size kitchen, a cozy family room, and the convenience of in-unit laundry. This unit is officially permitted as an Accessory Dwelling Unit (ADU) and includes a separate address, laundry facilities, a storage room, fully paid solar panels, a separate electric meter, a separate gas meter, and a shared water meter. Both units are entirely detached, ensuring privacy and autonomy.As a turnkey investment, these homes come fully equipped with all appliances, including in-unit laundry, which will be conveyed with the property. The combination of low maintenance, sought-after finishes, and upgraded mechanical systems positions this offering as an outstanding opportunity for consistent rental income. Both units are tenant occupied and please do not disturb the tenants. Call Artie for all details and showing schedule.

DAYS ON MARKET 38 LAST UPDATED 10/27/2023
TRACT Eastside South (ESCM) YEAR BUILT 2020
COMMUNITY East Costa Mesa GARAGE SPACES 2.0
COUNTY Orange STATUS Active
PROPERTY TYPE(S) Residential Income


ADDITIONAL DETAILS
AIR Central Air
AIR CONDITIONING Yes
APPLIANCES Dishwasher, Dryer, Gas Range, Refrigerator, Tankless Water Heater, Washer
AREA East Costa Mesa
BUYER'S BROKERAGE COMPENSATION 2.500 %
GARAGE Garage, Yes
HEAT Central, Forced Air, Heat Pump
HOA DUES 0
INTERIOR Ceiling Fan(s), Primary Suite
LOT 4028 sq ft
LOT DESCRIPTION Front Yard, Garden, Walkstreet
PARKING Garage
POOL DESCRIPTION None
SEWER Public Sewer
STORIES 1
SUBDIVISION Eastside South (ESCM)
UTILITIES Sewer Connected,Water Available, Electric: 220 Volts in Garage
VIEW Yes
VIEW DESCRIPTION City Lights,Neighborhood
WATER Public
ZONING R1
MORTGAGE CALCULATOR
   

TOTAL MONTHLY PAYMENT

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CONTACT US ABOUT 118 MAGNOLIA STREET
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Listed with Balboa Realty

The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable copyright laws. Information provided is for viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and CRMLS and its affiliates do not warrant or guarantee such accuracy. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional.

Based on information from California Regional Multiple Listing Service, Inc. as of 12/3/23 3:15 PM PST and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information

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