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Listed by Brian Sperry • Compass
$ 2,925,000
Est. payment | /mo
2 Beds
2 Baths
1,225 SqFt
$ 2,925,000
Est. payment | /mo
2 Beds
2 Baths
1,225 SqFt
Key Details
Property Type Single Family Home
Sub Type Single Family Residence
Listing Status Active
Purchase Type For Sale
Square Footage 1,225 sqft
Price per Sqft $2,387
MLS Listing ID OC-26041042
Bedrooms 2
Full Baths 2
Year Built 1954
Lot Size 9,148 Sqft
Property Sub-Type Single Family Residence
Source California Regional Multiple Listing Service (CRMLS)
Property Description
315 University Drive presents a high-density development opportunity on a 9,148 square foot lot zoned R-4 in Costa Mesa. Architectural studies illustrate two distinct paths: a for-sale configuration featuring four spacious 2-bedroom condominium residences with a separate structure offering two additional 2-bedroom ADUs, all supported by parking within a shared ground-level garage; or a rental-focused design allowing for up to 20 units comprised of a mix of two-bedroom and studio apartments. The apartment concept includes structured parking. The contemporary three-story design features private patios and balconies, elevator access, and a modern coastal architectural aesthetic as depicted in the renderings, which are for illustrative purposes only. With flexible development potential in a supply-constrained submarket, this property offers multiple strategies for build-to-sell, build-to-rent, or long-term hold. Buyer to verify all development standards and requirements with the City of Costa Mesa and the County of Orange. Architectural floor plans are available upon request.
Location
State CA
County Orange
Area C5 - East Costa Mesa
Zoning R-4
Interior
Heating Central, Forced Air
Cooling Central Air
Fireplaces Type Living Room
Laundry Gas Dryer Hookup, Washer Hookup
Exterior
Garage Spaces 2.0
Pool None
Community Features Street Lights
View Y/N No
View None
Building
Lot Description 0-1 Unit/Acre
Sewer Public Sewer
Nearby Locations
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Marissa Buss & Danny Lampert
Lic# 01770909 | 01834114