423 Esther Street
About This Property
Nestled on one of the most coveted streets in Eastside Costa Mesa, this 'horseshoe' street is the epitome of privacy and community. With no cut-through traffic, it offers a sense of calm that's hard to find, alongside a vibrant neighborhood spirit where block parties and friendly neighbors are a way of life. This is a place where stories are written, dreams are realized, and a sense of belonging is felt the moment you arrive. Filled with memories of love, laughter, and dreams, this timeless treasure is now ready for its next chapter-a new owner to build on its legacy and create generations of new memories.
What sets this property apart is its exceptional potential. The expansive 7,215-square-foot lot features an impressive 78-foot-wide frontage-far wider than the typical 50ish-foot lots in the area. This creates endless possibilities for a striking front elevation, enviable curb appeal, or even a custom dream home designed to take full advantage of the space. Whether you envision a tasteful remodel or an entirely new build, the opportunities are as vast as the lot itself.
Built in 1951, the home offers a warm and inviting layout with three bedrooms and one bathroom across 1,388 square feet of living space. Beneath the current carpeting lies original hardwood flooring, waiting to shine once more. A cozy wood-burning fireplace sets the scene for cool coastal evenings, adding charm to the already inviting ambiance.
The location is simply unbeatable. Within walking distance, you'll find Woodland and Kaiser Elementary Schools, the scenic Newport Back Bay, and the vibrant energy of 17th Street. From local dining favorites like Massimo's and Mi Casa to boutique shopping and entertainment, everything you need is just moments away.
This is more than just a house-it's a rare chance to live on one of the most desirable streets in Eastside Costa Mesa, surrounded by a community that truly feels like home. Whether you're looking to preserve its classic charm or reimagine it for modern living, 423 Esther Street invites you to make it your own and begin your next chapter on this extraordinary street where dreams come true.
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What does this mean?
Based on our analysis, the cap rate of this property is 1.25%. A negative cap rate indicates that the property might not be feasible as an income-producing asset. The median cap rate for a near zip code 11238 is 4.23%.
How much can I actually make?
Actual monthly rental income may vary between $4,760 and $7,140 depending on unit-specific characteristics. You can change the amount using the slider to further explore.
How is cap rate calculated?
Cap Rate = Net Operating Income (NOI) / Property Asset Value.
When calculating the cap rate, we assume 100% occupancy. Leverage (mortgage) is not considered.
Cap Rate provided by RealtyHop and RentHop, learn more about cap rate here.
Price History
| Date / Event | Date | Event | Price |
|---|---|---|---|
| Jan 10, 2025 | Sold | ||
| Sold | |||
| Dec 20, 2024 | In contract | - | |
| In contract | |||
| Nov 20, 2024 | Listed by Coldwell Banker Realty | $1,999,999 | |
| Listed by Coldwell Banker Realty | |||
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About Costa Mesa
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017