315 University Drive, Costa Mesa, CA 92627

• 2 beds |
• 2 baths |
• 1,225 sqft

Property Description

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.

Listing Status:

Active

Date Added:

September 11, 2026

Data Last Updated:

October 8, 2026 at 5:16PM

Listing Office:

Compass : 949-438-4340

Listing Agent:

Brian Sperry : 949-667-3300

Contact:

949-667-3300

MLS ID:

OC26197241

Interior

• General: Ceiling Fan(s)Open FloorplanStone CountersRecessed LightingBedroom on Main LevelGalley KitchenMain Level PrimaryPrimary SuiteWalk-In Closet(s)
• Appliances: DishwasherFreezerMicrowaveRefrigerator
• Laundry: Washer HookupGas Dryer Hookup
• Flooring: Vinyl
• A/C: Central Air
• Heating: CentralForced Air
• Fireplace: Living RoomFireplace

Exterior

• General: None
• Other Structures: ConcretePatio
• Pool: None
• Parking: DrivewayGarage Faces FrontParking spaces: 2

Construction

• General: 1

Location

• HOA Amenities: 0.0
• Originating MLS: CRMLS_CRM
• School District: Newport Mesa Unified
• County: Orange

Lot

• Zoning: R-443909111
• View: None
• Fencing: Wood

Utilities

• Utilities: Electricity ConnectedNatural Gas ConnectedSewer ConnectedWater Connected
• Water: Public
• Sewer: Public Sewer

Financial

• Source: CRMLS_CRM