Sold for $1,900,000

Listed by: Gould Group Inc • Nick Gould • Contact: 949-996-7976

Bought with: Gould Group Inc

$1,900,000

2028 Wallace Ave #C, Costa Mesa, CA 92627

5beds

5baths

2,299sqft

Multi Family

Built in 1956

-- sqft lot

$-- Zestimate^®

$826/sqft

$5,849 Estimated rent

Home value

Not available

Estimated sales range

Not available

$5,849/mo

Zestimate^® history

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$11,900/mo

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$11,900/mo

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What's special

Attractive unit mixModernize the existing unitsMassive lotExisting living space

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) 1BR/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.

Facts & features

Interior

Bedrooms & bathrooms

Bedrooms: 5
Bathrooms: 5

Appliances

Laundry: Washer Hookup, Gas Dryer Hookup

Features

Common walls with other units/homes: 1 Common Wall

Interior area

Total structure area: 2,299
Total interior livable area: 2,299 sqft

Property

Parking

Total spaces: 7
Parking features: Assigned
Garage spaces: 7

Features

Entry location: 2
Pool features: None

Lot

Size: 0.43 Acres
Features: 6-10 Units/Acre

Details

Parcel number: 42225216
Special conditions: Standard

Construction

Type & style

Home type: MultiFamily
Property subtype: Multi Family
Attached to another structure: Yes

Condition

New construction: No
Year built: 1956

Utilities & green energy

Sewer: Public Sewer
Water: Public

Community & HOA

Community

Features: Biking, Curbs, Storm Drain(s), Street Lights, Sidewalks
Subdivision: Costa Mesa Residential Income (Cmri)

Location

Region: Costa Mesa

Financial & listing details

Price per square foot: $826/sqft
Date on market: 5/27/2025
Cumulative days on market: 87 days
Listing terms: Cash,Cash to New Loan

Price history

Date	Event	Price
10/27/2025	Sold	$1,900,000-15.6%$826/sqft
Source: CRMLS #NP25117556 Report a problem
10/20/2025	Pending sale	$2,250,000$979/sqft
Source: CRMLS #NP25117556 Report a problem
8/24/2025	Contingent	$2,250,000$979/sqft
Source: CRMLS #NP25117556 Report a problem
7/10/2025	Listed for sale	$2,250,000$979/sqft
Source: CRMLS #NP25117556 Report a problem
6/12/2025	Contingent	$2,250,000$979/sqft
Source: CRMLS #NP25117556 Report a problem
5/27/2025	Listed for sale	$2,250,000$979/sqft
Source: CRMLS #NP25117556 Report a problem