1711 Pomona Avenue, Costa Mesa, CA 92627

• Listed Price : $5,900,000
• Beds : N/A
  
• Baths : N/A
  
• Property Size : N/A sqft
  

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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 enhance this investment’s appeal. The site is within walking distance to retail, dining, and professional services, with easy access to major transportation routes connecting Costa Mesa to key areas in Orange County and Los Angeles. With approvals progressing and a structured development timeline in place, 1711-1719 Pomona Avenue offers a well-positioned investment in a market with rising demand. Investors will benefit from an efficient project plan, strong buyer interest, and an opportunity for a well-timed exit.

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Interior Features

Listing Information

Listing information courtesy of: Tyler Leeson, WMichael Cavner, Marcus & Millichap RE Invest. *Based on information from the Association of REALTORS/Multiple Listing as of Feb 5th, 2025 at 3:01 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.