2205 Harbor BlvdCosta Mesa, CA 92627

Property Details for 2205 Harbor Blvd

Year built

1958

Lot size

0.58 AC

Property size (Sq ft)

8,347 SF

Property type

Hospitality properties

Property subtype

Motels

APN

422-193-24

APU

42219324

Description

This exceptional Costa Mesa motel presents a lucrative investment opportunity. The property, situated on approximately 0.58 acres at 2205 Harbor Blvd, Costa Mesa, CA 92627, boasts two two-story buildings totaling approximately 28,286 square feet. Built in 1958, the motel features 46 guest rooms and a management office. The asking price is $12,500,000, translating to $441.91 per square foot. Key features include a swimming pool with a barbecue area and a gated front entrance. The property's location offers convenient access to major Orange County areas. Furthermore, this motel is eligible for supportive housing purposes, presenting a potential avenue for expansion and increased revenue streams. A potential transferrable community care expansion grant may be available

• CAP approach

  CAP return

  Valuation

  6%

  $2,439,960

  6.5%

  $2,252,271

  7%

  $2,091,394

• Comparable approach

  Method

  Valuation

  Relative Method

  $6,904,050

  Geo Method

  $6,904,050

• Alternative Use

  Use

  Valuation

  Residential

  $2,458,825

  Hospitality

  $2,252,271

  Educational

  $1,873,863

  Medical

  $1,938,308

  Retail

  $2,914,898

Location Insight

City

Costa Mesa

County

Orange

State

California

Latitude

33.6545

Longitude

-117.92

CBSA code

31080

CBSA name

LOS ANGELES-LONG BEACH-ANAHEIM, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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