New - 5 days on Rocket
$10,000 Closing Credit¹
Michelle Wahler, Listing Office: Marterra Real Estate
#25489209·
Listing Office: Lyon Stahl Investment Real Estate, Inc.·
Listing Agent: John McCann·
Listing Office Phone: 310-425-9838
$10,000
closing credit¹
330 University Dr Costa Mesa, CA 92627
$2,049,000 List price
$10,000
Closing credit¹
3 beds
1 full, 1 partial
1,400 sqft
0.2 acres
$1,464 / sqft
House
Property details
About 330 University Dr
Investors and Builders - With a recent rezoning by the County of Orange, this highly desirable property offers unparalleled flexibility and development potential, setting it apart from any other on the market in the Newport-Mesa area. Just 350 yards or so from the serene waters of Newport's Back Bay, this 8,275-square-foot property is ideally located in an unincorporated area of Eastside Costa Mesa. Considering building six new townhomes? How about up to 14 apartments? This property is zoned for both, with a maximum height allowance of 35 feet. Alternatively, design your dream home or even two! You could also renovate the existing 1,400 sqft 3-bedroom, 1.5-bath residence while capitalizing on its two oversized garages and onsite parking for up to 20 vehicles. There are two distinct architectural renderings: Townhouse Rendering - This concept showcases 5 custom townhomes, and 1 custom ADU, all designed in a modern coastal craftsman style. Each townhome is designed with balconies and two-car garages. This configuration could generate an estimated sale of more than $7 million. Apartment Rendering - This option presents 8 high-end custom apartments plus 2 custom ADU apartments. Each apartment includes a private balcony and a single-car garage equipped with an EV charger. Under this plan, the conservative rental income is estimated at $35,000 monthly and $420,000 annually. If you're not a builder and looking for a home to live in, with some minor work this home can be move in ready. This development opportunity offers a wealth of possibilities: 1. Develop and Sell Build and sell all units for an immediate profit. 2. Develop and Rent Lease all units to generate steady rental income while benefiting from long-term appreciation and potential tax write-offs. 3. Build and Live Create your dream property, move into one unit, and rent the others. 4. Build and Retain Keep one or two townhomes for yourself, then sell the remaining units to offset your investment costs. 5. 1031 Exchange Use this opportunity to complete your 1031 exchange and defer capital gains taxes. Please ask Listing agent for Offering Memorandum or look in MLS documents. *Buyer to conduct their own due diligence with the County of Orange to confirm all development standards
Highlights
Home typeSingle Family Residence
HeatingWall Furnace
StatusActive
Size1,400 sqft
Lot size0.19 Acres
Year built1944
ParkingConcrete, Carport, Oversized, RV Garage
MLS #25489209
FireplaceLiving Room
ViewBay
Summary
- MLS Number: 25489209
- MLS Name: CRMLS
- Office Name: Lyon Stahl Investment Real Estate, Inc.
- Office Phone: (310) 425-9838
- Listing Agent: John McCann
Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. 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. The data contained herein is copyrighted by CRMLS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.
The information being provided by California Regional Multiple Listing Service, Inc. (“CRMLS”) is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Any information relating to a property referenced on this web site comes from CRMLS. Properties may or may not be listed by the office/agent presenting the information. Real estate listings held by brokerage firms other than this broker are marked with the Internet Data Exchange logo and detailed information about them includes the names of the listing brokers and listing agents. MLS search engine provided by IHR Technology Services. This data is updated every 2 hours. Some properties appearing for sale on this display may subsequently have sold and may no longer be available.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 1/30/2025, 2:21:03 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
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$2,049,000
330 University Dr
$10,000
closing credit¹
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Price information
Property sales
We're sorry, we currently don't have property sales data for this listing.
Tax history
| Year | Assessment | Property Tax |
|---|---|---|
| 2024 | $153,643 | $2,387 |
| 2023 | $150,631 | $2,297 |
| 2022 | $147,678 | $2,226 |
| 2021 | $144,783 | $2,167 |
| 2020 | $143,299 | $2,131 |
| 2019 | $140,490 | $2,041 |
| 2018 | $137,736 | $2,041 |
| 2017 | $135,036 | $2,011 |
History based on county public records data.
Nearby schools
8
Maude B. Davis Elementary School
Public District KG-6
1.1 mi
•1050 Arlington Dr
8
Kaiser Elementary School
Public District 3-6
1.1 mi
•2130 Santa Ana Ave
8
Eastbluff Elementary School
Public District KG-6
1.3 mi
•2627 Vista Del Oro
School ratings are a score out of 10, where 10 is the highest and 1 is the lowest.
Neighborhood
The neighbors living near this home have an average income of $88,288. Typical income of Costa Mesa, CA residents is between $35k-100k annually. Most families are single, no kids. Residents of this area typically have post secondary degree education.
How much money do the neighbors make?
9%
<35k
48%
35k-100k
30%
100k-200k
13%
200k+
What level of education do the neighbors have?
High School Diploma
Post Secondary Degree
Masters Degree
Doctorate
What types of families live nearby?
53%
Single, No Kids
8%
Single, with Kids
21%
Married, No Kids
18%
Married, with Kids
Are the neighbors home owners or renters?
Home Owners
Renters
How old are people in this area?
13%
<11 yrs old
6%
12-17 yrs old
27%
18-34 yrs old
45%
35-64 yrs old
9%
65+ yrs old
What do the neighbors do for fun?
Hiking/backpacking
Major League Soccer (MLS)
Art Museums
Where do the neighbors shop?
Bloomingdales
Banana Republic
H&M
Where do the neighbors go to eat?
Starbucks
Jack In The Box
Boston Market
What do the neighbors drive?
Audi
Toyota
Mercedes
What do the neighbors listen to?
Alternative
Jazz
News
All data provided by Home Junction and Claritas
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Frequently asked questions
About 330 University Dr
This home is located at 330 University Dr in Costa Mesa, CA and zip code 92627 in the Eastside Costa Mesa neighborhood. This 1,400 square foot home, which was built in 1944, sits on a 0.19 acre lot. Features: 3 bedrooms, 2 bathrooms. It has been listed on Rocket Homes since January 27, 2025 and is currently priced at $2,049,000.
Costa Mesa, CA housing market in December 2024 saw over 11 listings sold above listed price, more than 5 sold at listed price and over 18 sold below. Between November and December 2024, Costa Mesa, CA real estate market has seen decrease in the number of listings by 25.9%. In December 2024 median list price was $1,368,000 and the average listing age was 35 days.
From Rocket Homes Real Estate and based on county public records data.