Costa Mesa California Ground Up Luxury Build
Investment details
Listed by Flipur Investments
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Property details
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3051 Madeira Avenue, Costa Mesa, 92626, California, United States
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1712 sq ft
Amenities
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Double garage
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2989 Ceylon Dr, Costa Mesa, CA 92626 - Outdated - $1.940M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.
Location
