Address
383 W Wilson Street, Costa Mesa, CA
Price
$ 4,650,000
Property Attributes
- MLS#OC26201829
- TypeMulti-Family
- Listing Status Active
- CountyOrange
- CityCosta Mesa
- Area Southwest Costa Mesa
- NeighborhoodOther
- Zip92627
- Style
- Year Built1965
- Price$ 4,650,000
- Bedrooms0
- Full Bathrooms1
- Half Bathrooms0
- Sqr Footage7920
- Lot Size0.43 Acres
Data Source:
California Regional MLS (CRMLS)
Property Description
383 West Wilson Street is a 12-unit multifamily investment property located in Costa Mesa, California. Situated on approximately 0.43 acres, the property features a unit mix of 10 one-bedroom units and 2 two-bedroom units and combines a substantially renovated existing asset with significant additional unit development potential. Central to the investment opportunity is the approval to convert existing garage space into 5 studio Accessory Dwelling Units (ADUs), totaling approximately 2,045 square feet. Construction of the approved ADUs has not yet commenced, providing new ownership the opportunity to complete the conversions and increase the property from 12 to 17 units, a roughly 42% increase in rentable unit count. The approved conversions create a defined path to expand the property's income-producing capacity within the existing site. Importantly, this development upside is paired with substantial improvements to the existing 12 units. All units have been renovated with upgrades including quartz countertops, updated appliances and bathrooms, fresh paint, and vinyl and carpet flooring. With the existing interiors already improved, future investment can be focused on completion of the approved ADUs rather than a property-wide interior renovation program. 383 West Wilson Street also benefits from a sizable site and an attractive collection of resident amenities. The property provides 22 parking spaces, including 13 garage and 9 surface spaces, along with gated access, an on-site laundry facility, security doors, and a spacious central courtyard. The property is positioned near a dense collection of Costa Mesa amenities and demand drivers, with retail along Harbor Boulevard, Orange Coast College, the OC Fair & Event Center, and neighborhood recreation all nearby. Its location between Harbor Boulevard and State Route 55 provides convenient connectivity throughout Costa Mesa and to surrounding employment centers. Together, the property's renovated existing units, approved 5-unit ADU expansion and strong Costa Mesa location create a compelling combination of current quality and meaningful future upside.
| Price History | |
|---|---|
| 9/15/2026 | Listed $4,650,000 |
General Features
| Sewer | Public Sewer |
|---|---|
| Garage Spaces | 13 |
| Pool Features | None |
| Year Built | 1965 |
| Property Subtype | Apartment |
| Gross Income | 331993 |
| Community Features | Curbs,Gutter(s),Street Lights,Sidewalks |
| County | Orange |
| Net Operating Income | 196385 |
| Operating Expense | 126430 |
| Insurance Expense | 10565 |
| New Construction | false |
| Property Type | Residential Income |
| HOA | false |
| MaintenanceExpense | 10800 |
| Subdivision Name | Other |
| Garage Y/N | true |
| Special Listing Conditions | Standard |
| Status | Active |
| Directions | Cross Streets of West Wilson Street & Harbor Boulevard |
| City | Costa Mesa |
| Entry Location | First level |
| Senior Community Y/N | false |
| Open Parking Spaces | 9 |
| Number Of Units Total | 12 |
| MLS Area | C2 - Southwest Costa Mesa |
| Lot Size Units | Acres |
| Lot Size Square Feet | 18730.8 |
| Listing Terms | Cash,Cash to New Loan,Conventional,1031 Exchange |
| Property Attached Y/N | false |
| Land Lease Y/N | false |
| Electric Expense | 7407 |
| Fuel Expense | 7408 |
| Trash Expense | 7407 |
| Water Sewer Expense | 7407 |
| Additional Parcels Y/N | false |
| Rent Control Y/N | false |
| Building Area Units | Square Feet |
| Standard Status | Active |
| Year Built Source | Assessor |
| Tax Lot | 17 |
| Property Sub Type Additional | Apartment |
| Taxes | 48719 |
| Cap Rate | 4.22 |
| PostalCity | COSTA MESA |
Interior Features
| Total Stories | 2 |
|---|---|
| Common Walls | No Common Walls |
| Laundry Features | Common Area |
| Entry Level | 1 |
Exterior Features
| Lot Features | Street Level |
|---|---|
| Water Source | Public |
| Total Parking | 22 |
| Lot Size Area | 0.43 |
| Number of Buildings | 1 |
| Building Area Total | 7920 |
| Lot Size Acres | 0.43 |
| Private Pool | false |
| Lot Size Source | Assessor |
| Number of Separate Water Meters | 1 |
| Number of Separate Gas Meters | 12 |
| Number of Separate Electric Meters | 12 |
Amenities
- Foreclosure
- Views
- Short Sale
- New Construction
- Adult 55+
- Lease To Own
- No HOA Fees
- Furnished
- Primary On Main
- Air Conditioning
- Seller Finance
- Green
- Fixer Upper
- Horse
- Golf
- Fireplace
- Deck
- Garage
- Basement
- Pool
Property vs Multi-Family Average in 92627
Price
Year Built
Based on information from California Regional Multiple Listing Service, Inc. as of September 21, 2026 3:28 AM UTC This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.
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MetroList CA data last updated: September 21, 2026 2:58 AM UTC 