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$5,900,000
Est. payment /mo
0.46 Acres Lot
UPDATED:
02/05/2025 11:43 AM
Key Details
Property Type Vacant Land
Sub Type Lots/Land
Listing Status Active
Purchase Type For Sale
MLS Listing ID OC25011715
HOA Y/N No
Lot Size 0.460 Acres
Acres 0.46
Property Sub-Type Lots/Land
Property Description
The 1711-1719 Pomona Avenue project offers a strategic development and investment opportunity in Costa Mesa, located at the corner of Pomona Avenue and 17th Street. With final tract map approval expected in 810 weeks and permit-ready status anticipated by April/May 2025, this site provides a clear and efficient path to construction. Positioned directly across from the 17 West live/work community, the project is in a rapidly developing corridor with increasing demand for well-designed residential units. This 8-unit townhome development features three-bedroom, 2.5-bath homes, each with private decks, dedicated office spaces, and premium garage configurations. Unit sizes range from 2,076 to 2,084 sq. ft., offering spacious and modern living environments tailored to todays buyers. The financial outlook reflects solid revenue potential, with a projected total of approximately $14.92 million. Each unit is expected to sell for $1,865,000, averaging $897 per square foot, which aligns with the area's competitive pricing. Development costs are estimated at $11.47 million, including $3.83 million in direct construction costs, with an anticipated net profit of $3.45 million, resulting in a 30.1% margin over two years. Beyond strong financials, the location and market conditions enhance this investments appeal. The site is within walking distance to retail, dining, and professional services, with easy access to major transportation routes connecting Costa Mesa to key areas in Orange County and Los Angeles. With approvals progressing and a structured development timeline in place, 1711-1
The 1711-1719 Pomona Avenue project offers a strategic development and investment opportunity in Costa Mesa, located at the corner of Pomona Avenue and 17th Street. With final tract map approval expected in 810 weeks and permit-ready status anticipated by April/May 2025, this site provides a clear and efficient path to construction. Positioned directly across from the 17 West live/work community, the project is in a rapidly developing corridor with increasing demand for well-designed residential units. This 8-unit townhome development features three-bedroom, 2.5-bath homes, each with private decks, dedicated office spaces, and premium garage configurations. Unit sizes range from 2,076 to 2,084 sq. ft., offering spacious and modern living environments tailored to todays buyers. The financial outlook reflects solid revenue potential, with a projected total of approximately $14.92 million. Each unit is expected to sell for $1,865,000, averaging $897 per square foot, which aligns with the area's competitive pricing. Development costs are estimated at $11.47 million, including $3.83 million in direct construction costs, with an anticipated net profit of $3.45 million, resulting in a 30.1% margin over two years. Beyond strong financials, the location and market conditions enhance this investments appeal. The site is within walking distance to retail, dining, and professional services, with easy access to major transportation routes connecting Costa Mesa to key areas in Orange County and Los Angeles. With approvals progressing and a structured development timeline in place, 1711-1719 Pomona Avenue offers a well-positioned investment in a market with rising demand. Investors will benefit from an efficient project plan, strong buyer interest, and an opportunity for a well-timed exit.
The 1711-1719 Pomona Avenue project offers a strategic development and investment opportunity in Costa Mesa, located at the corner of Pomona Avenue and 17th Street. With final tract map approval expected in 810 weeks and permit-ready status anticipated by April/May 2025, this site provides a clear and efficient path to construction. Positioned directly across from the 17 West live/work community, the project is in a rapidly developing corridor with increasing demand for well-designed residential units. This 8-unit townhome development features three-bedroom, 2.5-bath homes, each with private decks, dedicated office spaces, and premium garage configurations. Unit sizes range from 2,076 to 2,084 sq. ft., offering spacious and modern living environments tailored to todays buyers. The financial outlook reflects solid revenue potential, with a projected total of approximately $14.92 million. Each unit is expected to sell for $1,865,000, averaging $897 per square foot, which aligns with the area's competitive pricing. Development costs are estimated at $11.47 million, including $3.83 million in direct construction costs, with an anticipated net profit of $3.45 million, resulting in a 30.1% margin over two years. Beyond strong financials, the location and market conditions enhance this investments appeal. The site is within walking distance to retail, dining, and professional services, with easy access to major transportation routes connecting Costa Mesa to key areas in Orange County and Los Angeles. With approvals progressing and a structured development timeline in place, 1711-1719 Pomona Avenue offers a well-positioned investment in a market with rising demand. Investors will benefit from an efficient project plan, strong buyer interest, and an opportunity for a well-timed exit.
Location
State CA
County Orange
Area Oc - Costa Mesa (92627)
Building
Lot Description Curbs, Sidewalks
Lot Size Range .25 to .5 AC
Others
Monthly Total Fees $92
Acceptable Financing Cash, Conventional, Exchange
Listing Terms Cash, Conventional, Exchange
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Listed by Tyler Leeson • Marcus & Millichap RE Invest
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