$1,100,000
$1,200,000
8.3%For more information regarding the value of a property, please contact us for a free consultation.
0.43 Acres Lot
SOLD DATE : 08/28/2024
Key Details
Sold Price $1,100,000
Property Type Vacant Land
Listing Status Sold
Purchase Type For Sale
MLS Listing ID PW24120147
Sold Date 08/28/24
HOA Y/N No
Lot Size 0.433 Acres
Property Description
The subject property is a ±0.43 acre parcel of land located on Bristol Street in the city of Costa Mesa one block south of Bear Street and
the 73 freeway. This site is rectangular in shape and measures approximately 50’ wide by 385’ deep. The site is completely paved over and is striped as a parking lot although it is not being utilized at the current time.
The property is zoned Commercial Limited (CL) and has a General Plan Land Use designation of General Commercial. The CL zoning district is intended for unique areas of land which, due to the proximity of residential development or the potential for traffic circulation hazards, require special precautions to be taken to assure appropriate development.
In November of 2022, the voters of the city of Costa Mesa passed a revitalization ordinance known as Measure K. The Measure K ordinance provides for housing options and revitalization along specific key corridors within the city. This property falls within one of the very few Measure K designated corridors in the city.
The site is located on the small stretch of Bristol Street that is bounded by the 73 freeway to the north and the 55 freeway to the south. Bristol Street is a major arterial through the city which means that it is a six-lane divided roadway with a raised median. Neighbors to the south include office/retail buildings, the neighbor to the north is a small apartment building and the neighborhood to the west is all detached single-family homes.
Parcels of unused or underutilized land are very difficult to find in the city of Costa Mesa, especially those with frontage along a major arterial such as Bristol Street. This site has been listed for sale at a price of only $63.56 per square foot.
Location
State CA
County Orange
Area 699 - Not Defined
Zoning CL
Interior
Fireplace No
Exterior
Community Features Curbs, Storm Drain(s), Street Lights, Sidewalks
View Y/N No
View None
Building
Lot Description Level, Paved, Value In Land
Water Public
New Construction No
Others
Senior Community No
Tax ID 41818111
Acceptable Financing Cash, Cash to New Loan
Listing Terms Cash, Cash to New Loan
Financing Cash
Special Listing Condition Standard
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Bought with General NONMEMBER • NONMEMBER MRML
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