Offered at $3,385,000, this 6-unit multifamily property in Costa Mesa provides a
strong turn-key opportunity in a supply-constrained market. Originally constructed
in 1964 as a 4-plex, the building was expanded in the past year with the addition of
two brand-new ADUs completed in 2025. The property now totals 5,267 SF and has been extensively
renovated with over $750,000 in recent improvements, including modern unit
interiors and durable finishes.
The unit mix includes studio, one-, two-, and three-bedroom layouts, designed to capture a
wide range of tenant demand. With current rents already strong and additional
upside available, investors can benefit from both immediate income and long-term
appreciation.
Located near South Coast Plaza, The Camp, and major transportation corridors, the
property combines stable tenant demand with proven rental performance, making for
a strategic investment in a highly sought-after Orange County submarket.
Sold for $3,250,000
Listed by: Seven Gables Real Estate • John Allen • Contact: 714-500-3300
Bought with: Lionheart Pride
$3,250,000
994 Valencia St, Costa Mesa, CA 92626
10beds
9baths
5,267sqft
Mixed Use
Built in 1964
-- sqft lot
$-- Zestimate®
$617/sqft
$2,119 Estimated rent
Home value
Not available
Estimated sales range
Not available
$2,119/mo
Zestimate® history
Owner options
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$2,119/mo
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$2,119/mo
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$20,166/mo
Est. payment
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$20,166/mo
Est. payment
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Zillow last checked:
Listing updated:
Listed by:
John Allen DRE #01939546 714-651-9706,
Seven Gables Real Estate,
Brendon Guichet DRE #01931695,
Uncharted
Bought with:
Jeremy Wayland, DRE #01388205
Lionheart Pride
Source: CRMLS,MLS#: OC25221298
Originating MLS: California Regional MLS
Originating MLS: California Regional MLSFacts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 10
- Bathrooms: 9
Rooms
- Room types: Kitchen, Living Room, Primary Bathroom
Heating
- Central, Ductless
Cooling
- Dual, Wall/Window Unit(s)
Appliances
- Included: Convection Oven, Dishwasher, Disposal, Microwave
- Laundry: Common Area, Inside, Outside
Features
- Granite Counters
- Flooring: Vinyl
- Doors: Double Door Entry
- Windows: Blinds, Screens
- Has fireplace: No
- Fireplace features: None
- Common walls with other units/homes: 2+ Common Walls
Interior area
- Total structure area: 5,267
- Total interior livable area: 5,267 sqft
Property
Parking
- Total spaces: 4
- Parking features: Assigned, Door-Single, Garage, Garage Faces Rear
- Garage spaces: 4
Accessibility
- Accessibility features: None
Features
- Levels: Two
- Stories: 2
- Entry location: Street
- Exterior features: Lighting, Rain Gutters
- Pool features: None
- Spa features: None
- Fencing: Block,Privacy
- Has view: Yes
- View description: Neighborhood
Lot
- Size: 6,719 Square Feet
- Features: 21-25 Units/Acre, Rectangular Lot
Details
- Parcel number: 14166431
- Zoning: R-3
- Special conditions: Standard
Construction
Type & style
- Home type: MultiFamily
- Architectural style: Modern
- Property subtype: Mixed Use
- Attached to another structure: Yes
Materials
- Frame, Glass
- Foundation: Slab
- Roof: Shingle
Condition
- Turnkey
- New construction: No
- Year built: 1964
Utilities & green energy
- Electric: 220 Volts in Kitchen, 220 Volts in Laundry
- Sewer: Public Sewer
- Water: Public
- Utilities for property: Electricity Connected, Natural Gas Connected, Water Connected
Community & HOA
Community
- Features: Biking, Golf, Park
- Subdivision: Mesa Del Mar
Location
- Region: Costa Mesa
Financial & listing details
- Price per square foot: $617/sqft
- Tax assessed value: $1,825,347
- Annual tax amount: $22,914
- Date on market: 9/23/2025
- Cumulative days on market: 22 days
- Listing terms: 1031 Exchange
- Total actual rent: 17125
- Tenant pays: Electricity, Gas
- Road surface type: Paved
Price history
| Date | Event | Price |
|---|---|---|
| 12/5/2025 | Sold | $3,250,000-4%$617/sqft |
Source:  CRMLS #OC25221298 Report a problem | ||
| 10/15/2025 | Pending sale | $3,385,000$643/sqft |
Source: CRMLS #OC25221298 Report a problem | ||
| 9/23/2025 | Listed for sale | $3,385,000+99.1%$643/sqft |
Source: CRMLS #OC25221298 Report a problem | ||
| 12/13/2023 | Sold | $1,700,000-4.8%$323/sqft |
Source: CRMLS #OC23063004 Report a problem | ||
| 10/31/2023 | Pending sale | $1,785,500$339/sqft |
Source: CRMLS #OC23063004 Report a problem | ||
| 10/27/2023 | Price change | $1,785,500+5%$339/sqft |
Source: CRMLS #OC23063004 Report a problem | ||
| 8/30/2023 | Pending sale | $1,700,000$323/sqft |
Source: CRMLS #OC23063004 Report a problem | ||
| 5/21/2023 | Contingent | $1,700,000$323/sqft |
Source: CRMLS #OC23063004 Report a problem | ||
| 4/15/2023 | Listed for sale | $1,700,000$323/sqft |
Source: CRMLS #OC23063004 Report a problem | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2025 | $22,914 +7.9% | $1,825,347 +7.4% |
| 2024 | $21,239 +407.8% | $1,700,000 +1270.5% |
| 2023 | $4,183 +9.8% | $124,046 +2% |
| 2022 | $3,808 +9% | $121,614 +2% |
| 2021 | $3,494 +2.7% | $119,230 +1% |
| 2020 | $3,404 | $118,008 +2% |
| 2019 | $3,404 +2.7% | $115,695 +2% |
| 2018 | $3,315 +3.3% | $113,427 +2% |
| 2017 | $3,209 | $111,203 +2% |
| 2016 | $3,209 +1.3% | $109,023 +1.5% |
| 2015 | $3,167 +42.5% | $107,386 +2% |
| 2014 | $2,223 | $105,283 +0.5% |
| 2013 | -- | $104,808 +2% |
| 2012 | -- | $102,753 +2% |
| 2011 | -- | $100,739 +0.8% |
| 2010 | -- | $99,987 -0.2% |
| 2009 | -- | $100,226 +2% |
| 2008 | -- | $98,261 +2% |
| 2007 | -- | $96,335 +2% |
| 2006 | -- | $94,447 +2% |
| 2005 | -- | $92,596 +2% |
| 2004 | -- | $90,781 +1.9% |
| 2003 | -- | $89,118 +2% |
| 2002 | -- | $87,371 +2% |
| 2001 | $1,187 +2.7% | $85,658 +2% |
| 2000 | $1,156 | $83,979 |
Find assessor info on the county website
Neighborhood: 92626
Nearby homes
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Nearby schools
GreatSchools rating
- 7/10Sonora Elementary SchoolGrades: K-6Distance: 0.2 mi
- 5/10Costa Mesa High SchoolGrades: 7-12Distance: 0.6 mi
- California
- Orange County
- Costa Mesa
- 92626
- 994 Valencia St
Nearby cities
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