13
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$5,900,000
Est. payment /mo
Active
1711 Pomona AVE Costa Mesa, CA 92627
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UPDATED:
03/05/2025 04:23 PM
Key Details
Property Type Vacant Land
Sub Type Other Residential Land
Listing Status Active
Purchase Type For Sale
MLS Listing ID CROC25011715
Originating Board California Regional MLS
Property Sub-Type Other Residential Land
Property 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 8-10 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 today's 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 en
Location
State CA
County Orange
Area 699 - Not Defined
Zoning LWS
Exterior
View Local/Neighborhood
Building
Lot Description Grade - Level
Water District - Public
Others
Tax ID 42408121
Special Listing Condition Not Applicable
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Listed by Michael Cavner • Marcus & Millichap RE Invest