1711 Pomona Avenue, Costa Mesa, CA 92627
  • MLS#: OC25011715 ( )
  • Street Address: 1711 Pomona Avenue
  • Viewed: 6
  • Price: $5,900,000
  • Price sqft: $0
  • Waterfront: No
  • Year Built: Not Available
  • Bldg sqft: 0
  • Days On Market: 38
  • Additional Information
  • County: ORANGE
  • City: Costa Mesa
  • Zipcode: 92627
  • Provided by: Marcus & Millichap RE Invest
  • Contact: Tyler Tyler
  • DMCA Notice
  • 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 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.
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Features
Association Fee
  1. 0.00
Commoninterest
  1. Planned Development
Country
  1. US
Days On Market
  1. 34
Distancetowatercomments
  1. 1.15mi
Lot Features
  1. Level with Street
Parcel Number
  1. 42408121
Postalcodeplus4
  1. 3610
View
  1. Neighborhood
Water Source
  1. Public
Zoning
  1. R3