5
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Listed by Nick Gould • Gould Group Inc
$2,250,000
Est. payment /mo
0.43 Acres Lot
Active Under Contract
2028 Wallace Avenue Costa Mesa, CA 92627
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Key Details
Property Type Vacant Land
Listing Status Active Under Contract
Purchase Type For Sale
MLS Listing ID NP-25117522
Lot Size 0.426 Acres
Property Description
Welcome to 2028 Wallace Avenue, a rare multifamily/redevelopment investment opportunity located in the heart of Costa Mesa's rapidly evolving Westside. Situated on a massive lot, this three-unit property features an attractive unit mix consisting of (1) 3BR/2.5BA and (2) 2BR/1BA units across approximately 2,299 SF of existing living space. Positioned within the Mesa West Urban Plan and a federally recognized Opportunity Zone, 2028 Wallace offers significant upside potential. Investors have the opportunity to modernize the existing units, add Accessory Dwelling Units (ADUs), or redevelop the site entirely by leveraging the increased density allowances of the Mesa West Specific Plan. The Opportunity Zone designation further enhances the appeal with the potential for long-term tax advantages.
Location
State CA
County Orange
Area C4 - Central Costa Mesa
Zoning R2-HD
Exterior
Community Features Biking, Curbs, Sidewalks, Storm Drains, Street Lights
View Y/N No
View None
Building
Lot Description 6-10 Units/Acre