1022 W Wilson Street

Costa Mesa, CA 92627

$1,795,000

List Price

12

bed Beds

12

shower Baths

6,300 sqft

straighten / sqft

2025

calendar_month Built

Property Description

INVESTORS & BUILDERS, close on this excellent development opportunity with City entitlements, final County map, and full sets of permit ready plans. City of Costa Mesa approved lot split using their Small Lot Ordinance (SLO) guidelines. 2 nearly identical lots have been created from this prime oversized lot of 10,817 SF. Each new lot will be approx. 53' wide by 102' deep, totaling 5,406 SF. On each lot will be one 2-story, 4 bed & 3.5 bath front house of 2,266 SF, plus a single level detached ADU in the back with 2 beds & 2 baths in 884 SF. Architecture is coastal modern farmhouse by Bryant Palmer & Soto. Features will include high volume and vaulted ceilings, great rooms and lofts, upstairs laundry rooms, indoor/outdoor feel, oversized garages, private yards, separate gated entries, welcoming front porches and patios. ADUs will have separate and private entries and all yards will be privately fenced. All units separately metered with electric and gas. Outdoor spaces by BGB Design Group will be soothing places to rest, rejuvenate and entertain with California friendly landscaping and practical yet aesthetically pleasing hardscape surfaces. Just around the corner are Fairview Park and Talbert Nature Preserve, and Santa Ana River trails with beach access. Just a few blocks from excellent Waldorf School. These homes and ADUs will be terrific residences for their occupants. Conservative rental pro forma is $6,500-$7,000/mo for the front houses and $3,500-$3,750/mo for the ADUs. The development project offers many options for the lucky buyer: 1.) Develop and sell for profit; 2.) Develop and rent all units out, then hold for the long-term appreciation and tax write offs; 3.) Build for yourself and move into one and rent the others; 4.) Build both lots, then sell one off to pay for the one you keep; and/or 5.) Purchase for your 1031 exchange to defer capital gains taxes. What is your plan? Reach out to Bixby Residential and allow us to consult with you on your options, connect you with our development team, and introduce you to potential contractors for the build out should you need one. *NOTE: Listing has supplements--SEE BROCHURE WITH RENTAL AND SALES COMPS.

Listing Information

List Price $1,795,000
Status Active
MLS NP24202018
HOA $0
Type Residential
Subtype Single Family Residence
Year Built 2025
Lot Size 10,817
Structure Size 6,300
DOM 43
Courtesy Of Compass
Listing Agent Grant Bixby DRE#01364572

Interior Features

Laundry Information
Location(s) Inside, Laundry Room, Stacked, Upper Level
Kitchen Information
Features Kitchen Island, Kitchen/Family Room Combo, Self-closing Cabinet Doors, Self-closing Drawers, None
Bedroom Information
Features Bedroom on Main Level
Total Bedroom
Bedrooms 12
Bathroom Information
Features Bathroom Exhaust Fan, Dual Sinks, Full Bath on Main Level, Tub Shower
Total Bathroom
Bathrooms 12
Flooring Information
Material Tile, Wood
Fireplace Information
Features None
Additional Information
Additional Features Separate/Formal Dining Room, High Ceilings, Open Floorplan, Wired for Data, Wired for Sound, Bedroom on Main Level, Entrance Foyer, Loft, Primary Suite, Walk-In Closet(s)
Cooling Type
Cooling Type Central Air

Exterior Information

Other Structures
Features Rear Porch, Concrete, Front Porch

Maps

Listing information courtesy of: Grant Bixby, Compass 949-677-0111. *Based on information from the Association of REALTORS/Multiple Listing as of Dec 5th, 2024 at 5:20 AM and/or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.