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.
Sold for $1,900,000 on 10/27/25
Listing Provided by:
Nick Gould DRE #01521955 ng@gouldgroupinc.com,
Gould Group Inc
Bought with: Gould Group Inc
$1,900,000
2028 Wallace Ave #C, Costa Mesa, CA 92627
10beds
10baths
2,299sqft
Multi Family
Built in 1956
-- sqft lot
$-- Zestimate®
$826/sqft
$5,685 Estimated rent
Home value
Not available
Estimated sales range
Not available
$5,685/mo
Zestimate® history
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What's special
Zillow last checked: 8 hours ago
Listing updated: October 31, 2025 at 03:06pm
Listing Provided by:
Nick Gould DRE #01521955 ng@gouldgroupinc.com,
Gould Group Inc
Bought with:
Nick Gould, DRE #01521955
Gould Group Inc
Source: CRMLS,MLS#: NP25117556
Originating MLS: California Regional MLS
Originating MLS: California Regional MLSFacts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 10
- Bathrooms: 10
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 & neighborhood
Community
- Community features: Biking, Curbs, Storm Drain(s), Street Lights, Sidewalks
Location
- Region: Costa Mesa
- Subdivision: Costa Mesa Residential Income (Cmri)
Other
Other facts
- Listing terms: Cash,Cash to New Loan
Price history
| Date | Event | Price |
|---|---|---|
| 10/27/2025 | Sold | $1,900,000-15.6%$826/sqft |
Source:  CRMLS #NP25117556 | ||
| 10/20/2025 | Pending sale | $2,250,000$979/sqft |
Source: CRMLS #NP25117556 | ||
| 8/24/2025 | Contingent | $2,250,000$979/sqft |
Source: CRMLS #NP25117556 | ||
| 7/10/2025 | Listed for sale | $2,250,000$979/sqft |
Source: CRMLS #NP25117556 | ||
| 6/12/2025 | Contingent | $2,250,000$979/sqft |
Source: CRMLS #NP25117556 | ||
Public tax history
Tax history is unavailable.
Neighborhood: 92627
Nearby schools
GreatSchools rating
- 4/10Pomona Elementary SchoolGrades: K-6Distance: 0.1 mi
- 7/10Charles W. Tewinkle Middle SchoolGrades: 7-8Distance: 2.8 mi
- 6/10Estancia High SchoolGrades: 9-12Distance: 1 mi
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