2550 Santa Ana AVE Costa Mesa, CA 92627

Rare 7 single story, separate cottages in the desirable Eastside Costa Mesa submarket. Long term owners are out of the area and these units have a 40%+ attainable rental upside. There is a 10%+ rental upside with hands on management based upon in-place rental comparables. The Eastside Cottages are comprised of seven units; (5) three bedroom, one bath (1) two bedroom, bath, and (1) three-bedroom, one and one quarter bath unit. The owner pays water only and each unit has a separate H2O heater, laundry hook-ups, a private garage and yard. The exterior has new paint, and the roofs are pitched composition shingle. Proforma at Market. See Marketing Flyer in Dedicated Property Website.

There is a real attainable approximately 40% rental upside with renovations bringing the going yield inline with market market cap rates. Long-term out of area owners keep rents very, very low and the building full.

The Sellers are motivated to complete the IRC 1031 Tax Deferred Exchange.