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Listed by Compass, Brian Sperry, Listing Contact: 949-667-3300 
2 Beds
2 Baths
1,225 sqft

$2,400,000

315 University Drive, Costa Mesa CA, 92627

Price per sqft$1,959.18
Built in1954
Property size1,225 sqft
Property typeResidential

Overview

Active

Listed Sep 11, 2026

Updated 10 days ago

315 University Drive󠃍󠂏󠃢󠂁󠂤󠃢󠂁󠂣󠃢󠂁󠂢󠃢󠂁󠂡󠃢󠂁󠂢 gives you a rare choice in Costa Mesa: live in the home that stands here today, or redevelop the R-4 lot beneath it. The existing residence is a 2-bedroom, 2-bathroom home of 1,225 square feet, set behind a security gate on a 9,148 square foot lot close to the Back Bay, with a two-car garage and an oversized yard. Move in, rent it out, or hold it while you plan. The home is functional and ready today. The upside is in the land. Zoned R-4 on more than 9,000 square feet in a supply-constrained submarket, this lot carries real development potential for a buyer with vision. Whether your strategy is build-to-sell, build-to-rent, or a long-term hold, the possibilities here are worth exploring. Buyer has the possibility to build condos or apartments.

$15,967/mo

Est. mortgage payment based on a $2,400,000 home price.

All estimates are provided by Luxury Presence for informational purposes only. Actual amounts may vary.

Additional information

MLS® ID
OC26197241

Interior Features

Bedrooms
2
Bathrooms
2
Fireplace
Yes
Cooling
Yes
Heating
Yes
Basement
No

Exterior Features

Lot Size
0.21 Acres

Other Property Details

Garage
Yes
View
Yes

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Data last updated 3:33 AM UTC, 9/28/2026

   

 

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