Perfect for your 1031 Client! Wonderful opportunity to own a large lot on a prime Eastside Costa Mesa with Two month-to-month tenants making it easy to shift gears when you have applied for zone change and when you are ready to build! Undermarket but vary Stable rent roll, minimal expenses while you decide what to do with this property. Wonderful opportunity to develop or hold a rare piece of land in Eastside Costa Mesa with simple month-to-month tenancy in place. Lot is zoned C-1, but Residential or Mixed Use zoning is viable if one is to propose a General Plans Amendment, Rezone, and Specific Plans. In 2020, a 9-unit condo passed the General Plan Screening* at the city council - does not equal to entitlement or being shovel ready. All plans have since expired and one would need to bring plans and proposals up to current requirements and code. Please note, it would take 6 months to 3 years to get the entitlements and be shovel ready as each proposal is different. Expired plans can be included in the sale of the property. This is an AS-IS purchase. *General Plan Screening is a precondition to the entitlement process; the City Council determined the proposal may proceed through the entitlement process. Staff believed the proposed development would provide an opportunity to improve the condition of the site and would provide additional housing in the City. The proposed condominiums were designed to complement the street frontage; however, the site plans would need refinement in terms of parking, design, and open space. The Council voted to move forward, submittal of applications for a General Plan Amendment, Rezone and Specific Plan would be required to process the necessary entitlements. After the General Plan Screening, the project was put on hold due to Covid uncertainties.

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.