764 W 18th Street

Listing provided courtesy of: Realty One Group West

Property Description

Don't miss this rare opportunity to own a Pride Covington Triplex in a prime Costa Mesa location, offering excellent income potential with long-term, reliable tenants already in place. This property is perfect for savvy investors looking for a great rental with steady cash flow and major capital improvements already completed. The triplex comprises three spacious units, each thoughtfully designed for comfort and functionality. Property features a brand new high-quality flat roof (2024), recently replaced with a $34,000 roofing system, including an engineered roofing plan and city permit. The roof comes with a 25+ year warranty, providing long-term durability and peace of mind. Each unit features a recently replaced furnace, ensuring efficient heating and added value for tenants. Unit #1 has a completely remodeled kitchen with modern finishes and updated appliances as well as a remodeled master shower. All units have newer toilets and vanity sinks, enhancing comfort and functionality. Select rooms across all three units have updated flooring, creating a refreshed and inviting atmosphere with aesthetics and livability. This property also has ample parking which includes a 4-car garage plus 6 additional off-street parking spaces, offering convenience and value for tenants. The property reflects pride of ownership with thoughtful upgrades and ongoing care. Investments highlights includes: All units are fully occupied by excellent long-term tenants, providing steady and dependable rental income. Located in the highly desirable city of Costa Mesa—just minutes from the beach, shopping centers, dining, and major freeways—making it a top choice for renters. With most systems recently upgraded, this property is a low-maintenance, high-return investment. Also, all units are currently under rented, providing significant upside potential for increased rental income over time. The property has very low vacancy rate due to the fact that it is located in a highly sought-after rental area and is consistently in high demand. With Costa Mesa's strong rental market and the property's proven track record of occupancy, this triplex represents a great investment with significant income potential. Whether you're a seasoned investor or exploring your first multi-family property, this offering aligns with strategic investment goals. Don't miss out on this rare chance to acquire a high-performing asset in one of Costa Mesa's sought-after communities.

• Features:

  Sliding Doors Living Room Laminate, Tile Level, Paved, Rectangular Lot Driveway, Garage Faces Front, Garage, Paved Spanish Tile Smoke Detector(s) Public Sewer Cable Available, Electricity Available, Natural Gas Available, Phone Available, Sewer Available, Water Available Window Coverings, Blinds, Drapes

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