Absolutely beautiful, massive building in the best part of Costa Mesa. Yes it's only 2 units but the price per square foot is the exact same as the most recent sales comps: $340 psf. The gross rent multiplier is actually less than the closed sale comps. The best thing about this building is the current owner will lease is back from you because he rents the units to his students at his local ESL school. This means you: Get a long term lease from a Grade A credit tenant. You will have guaranteed rent during the lease term and NO MANAGEMENT headaches because the seller will handle all the management. AND he is willing to pay above-market rents. It's a win-win-win for you. If you're too busy to deal with tenants or management but want a solid investment for your funds, this is the perfect place. This building is also as gorgeous on the inside as it is on the outside. Hardwood floors (laminate), granite, new carpets, etc. Brokered And Advertised By: Realty One Group, Inc. Listing Agent: Trace Keasler
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