Welcome to 2028 Wallace Avenue, a rare multifamily/redevelopment investment opportunity located in the heart of Costa Mesa’s rapidly evolving Westside. Situated on a massive lot, this three-unit property features an attractive unit mix consisting of (1) 3BR/2.5BA and (2) 1BR/1BA units across approximately 2,299 SF of existing living space. Positioned within the Mesa West Urban Plan and a federally recognized Opportunity Zone, 2028 Wallace offers significant upside potential. Investors have the opportunity to modernize the existing units, add Accessory Dwelling Units (ADUs), or redevelop the site entirely by leveraging the increased density allowances of the Mesa West Specific Plan. The Opportunity Zone designation further enhances the appeal with the potential for long-term tax advantages.
For sale
Listing Provided by:
Nick Gould DRE #01521955 ng@gouldgroupinc.com,
Gould Group Inc
$2,250,000
2028 Wallace Ave #C, Costa Mesa, CA 92627
5beds
5baths
2,299sqft
Est.:
Multi Family
Built in 1956
-- sqft lot
$-- Zestimate®
$979/sqft
$-- HOA
What's special
Attractive unit mixModernize the existing unitsMassive lotExisting living space
- 69 days
- on Zillow |
- 516 |
- 15 |
Zillow last checked: 7 hours ago
Listing updated: July 14, 2025 at 03:55pm
Listing Provided by:
Nick Gould DRE #01521955 ng@gouldgroupinc.com,
Gould Group Inc
Source: CRMLS,MLS#: NP25117556
Originating MLS: California Regional MLS

Travel times
Tour with a buyer's agent
Tour with a buyer's agent
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 5
- Bathrooms: 5
Appliances
- Laundry: Washer Hookup, Gas Dryer Hookup
Features
- Common walls with other units/homes: 1 Common Wall
Interior area
- Total structure area: 2,299
- Total interior livable area: 2,299 sqft
Property
Parking
- Total spaces: 7
- Parking features: Assigned
- Garage spaces: 7
Features
- Entry location: 2
- Pool features: None
Lot
- Size: 0.43 Acres
- Features: 6-10 Units/Acre
Details
- Parcel number: 42225216
- Special conditions: Standard
Construction
Type & style
- Home type: MultiFamily
- Property subtype: Multi Family
- Attached to another structure: Yes
Condition
- New construction: No
- Year built: 1956
Utilities & green energy
- Sewer: Public Sewer
- Water: Public
Community & HOA
Community
- Features: Biking, Curbs, Storm Drain(s), Street Lights, Sidewalks
- Subdivision: Costa Mesa Residential Income (Cmri)
Location
- Region: Costa Mesa
Financial & listing details
- Price per square foot: $979/sqft
- Date on market: 5/27/2025
- Listing terms: Cash,Cash to New Loan
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