315 University Drive,Costa Mesa, CA 92627
Costa Mesa, CA 92627
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. Adjacent property (317 University Drive) is also available for sale by a different seller to potentially develop a larger property.
Details
| MLS # | OC26041042 |
|---|---|
| Listing Type | For Sale |
| Style | House |
| Sub-Type | Resale |
| Status | Active |
| Year | 1954 |
| Days On Site | 184 |
| Listing Provided By | Compass | Brian Sperry |
Features
| Bed(s) | 2 |
|---|---|
| Bath(s) | 2 Total |
| SQ Feet | 1,225 |
| Garage | 2 |
| Story(s) | 1 |
| Units | 1 |
| Zoning | R-4 |
| Acreage | 0.21 |
| Property View | None |
Interior
| Cooling | Central Air |
|---|---|
| Heating | Central, Forced Air |
| Heating Yes / No | Yes |
| Cooling Yes / No | Yes |
| Interior Features | Galley Kitchen |
| Fireplace Yes / No | Yes |
Exterior
| Lot Features | Zero To One Unit Acre |
|---|
Parking
| Attached Garage Yes / No | Yes |
|---|---|
| Garage Yes / No | Yes |
Utilities
| Sewer | Public Sewer |
|---|
Location
| Community Features | Street Lights |
|---|
Area Information
| State | CA |
|---|---|
| County | Orange |
| City | Costa Mesa |
| Zip Code | 92627 |
| Area | C5 East Costa Mesa |
| Community Name | Other |
| Listing VS Median (in Other) | |
Price: $2,675,000 low | high Med: $2,099,000 sqft: 1,225 low | high Med: 2,174 $ / sqft: $2,184 low | high Med: $966 On site: 184 low | high Med: 21 | |
Market Activity 92627
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Learn More About This Property
| State | CA |
|---|---|
| County | Orange |
| City | Costa Mesa |
| Zip Code | 92627 |
| Area | C5 East Costa Mesa |
| Community Name | Other |
| Listing VS Median (in Other) | |
Price: $2,675,000 low | high Med: $2,099,000 sqft: 1,225 low | high Med: 2,174 $ / sqft: $2,184 low | high Med: $966 On site: 184 low | high Med: 21 | |