934 Governor
About This Property
Exceptional opportunity in the heart of Costa Mesa. 934 Governor St presents a rare and versatile opportunity for builders, investors, and end users alike. The property currently offers approximately 1,848 square feet of livable space, making it move in ready for an end user who would like to enjoy the home today while planning a future expansion.
The proposed layout has been thoughtfully designed to maximize functionality, privacy, and modern living. The ADU provides excellent flexibility for rental income, multigenerational living, or a private guest suite.
For an end user, this property offers the advantage of a livable home today with the option to build at a later time based on personal preference. The existing permits may also be eligible for extension, providing additional flexibility and long term planning potential.
All architectural plans and city permits are ready, significantly reducing the time and uncertainty typically associated with the building approval process.
Ideally located near shopping, dining, beaches, and major freeways, this property offers a unique opportunity to live in now, build later, and create substantial future value in one of Costa Mesa's desirable locations.
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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 |
|---|---|---|---|
| Apr 15, 2026 | Sold | ||
| Sold | |||
| Mar 16, 2026 | In contract | - | |
| In contract | |||
| Mar 3, 2026 | Listed by Together Realty | $1,290,000 | |
| Listed by Together Realty | |||
| Nov 13, 2025 | Sold | ||
| Sold | |||
| Oct 23, 2025 | Listed by Torelli Realty | $1,099,000 | |
| Listed by Torelli Realty | |||
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Tucked away on a quiet interior street in one of Costa Mesa’s most desirable neighborhoods, 934 Governor Street sits on a generous 7,350 sqft lot with endless possibilities. The home features a spacious primary suite, a versatile attached studio apartment, and a garage already converted into additional living space, perfect for guests or work-from-home. Beyond the home itself, Costa Mesa living is hard to beat. You’re minutes from world-class dining, local coffee shops, and the beach, surrounded by top-rated schools, incredible parks, and a true sense of community. Whether you’re looking to renovate, reimagine, or move right in, this home delivers rare value in one of Costa Mesa's most sought-after areas. Big lot. Quiet street. Huge upside. That’s Costa Mesa living at its best.
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017