Costa Mesa California Ground Up Luxury Build

Address & Market Overview

Address: 3051 Madeira Ave, Costa Mesa, CA 92626

Neighborhood: Mesa Verde – The Island Streets

Market Snapshot: Mesa Verde is a sought-after neighborhood in Costa Mesa, known for its family-friendly environment, proximity to the Mesa Verde Country Club, and access to top-rated schools. The area boasts a mix of well-maintained homes and properties ripe for renovation, presenting ample opportunities for value addition.

Purchase Price / ARV / Projected ROI

Purchase Price: $1,263,000

After Repair Value (ARV): $1,700,000

Projected ROI: Approximately 15%

Summary of the Opportunity

This 3-bedroom, 2-bathroom single-family home spans 1,712 sq ft on a 6,800 sq ft lot. Built in 1959, the property retains much of its original charm but requires significant updates. Located in the desirable Mesa Verde neighborhood, the home is minutes away from the Mesa Verde Country Club, top-rated schools, shopping centers, and beaches. The property’s condition presents a prime opportunity for investors to renovate and capitalize on the area’s strong market demand.

Scope of Work

Interior Renovations:

DUE TO HEAVY FOUNDATION WORK, WE HAVE UPDATED THIS INVESTMENT TO INCLUDE A VERY HEAVY, 500K RENOVATION THAT INCLUDES ADDING OVER 200SQFT TO THE PROPERTY, HARDSCAPE, LANDSCAPE AND FULL CUSTOM BUILD. WELL DONE BUILIDERS https://www.welldonebuilders.com/ will be performing the renovations.

Interior:

Full kitchen redesign w/ high-end finishes and appliances

Two bathroom overhauls (tile, vanities, layout improvements)

Open up common areas for better flow

New flooring, doors, lighting, paint

Smart home upgrades (thermostats, security, lighting)

Structural:

Foundation repair and leveling (~$45K allowance)

Electrical and plumbing upgrades

HVAC inspection & tune-up

Total Rehab Budget: $700,000+

Comparable Sales (not new builds)

3022 Madeira Ave, Costa Mesa, CA 92626 - Not fully ARV - $2.030

1727 Labrador Dr, Costa Mesa, CA 92626 - Updated - Pool takes up most of back yard - $1.925M

2989 Ceylon Dr, Costa Mesa, CA 92626 - Outdated - $1.940M

Exit Strategy

Scrape and develop luxury home.