315 University Drive, Costa Mesa, CA 92627

• 2 beds |
• 2 baths |
• 1,225 sqft

Property Description

315 University Drive presents a high-density development opportunity on a 9,148 square foot lot zoned R-4 in Costa Mesa. Architectural studies illustrate two distinct paths: a for-sale configuration featuring four spacious 2-bedroom condominium residences with a separate structure offering two additional 2-bedroom ADUs, all supported by parking within a shared ground-level garage; or a rental-focused design allowing for up to 20 units comprised of a mix of two-bedroom and studio apartments. The apartment concept includes structured parking. The contemporary three-story design features private patios and balconies, elevator access, and a modern coastal architectural aesthetic as depicted in the renderings, which are for illustrative purposes only. With flexible development potential in a supply-constrained submarket, this property offers multiple strategies for build-to-sell, build-to-rent, or long-term hold. Buyer to verify all development standards and requirements with the City of Costa Mesa and the County of Orange. Architectural floor plans are available upon request.

Listing Status:

Active

Date Added:

February 25, 2026

Data Last Updated:

March 4, 2026 at 11:13PM

Listing Office:

Compass : 949-438-4340

Listing Agent:

Brian Sperry : 949-667-3300

MLS ID:

OC26041042

Interior

• Laundry: GasWasher Hookup
• A/C: Central Forced Air
• Heating: Forced Air Unit
• Fireplace: FP in Living Room

Exterior

• Pool: N/K
• Parking: Parking spaces: 2

Construction

• General: 1

Location

• HOA Amenities: 0.0
• Originating MLS: California Regional MLS
• County: Orange

Lot

• Zoning: R-443909111
• View: N/K

Utilities

• Water: Public
• Sewer: Public Sewer

Financial

• Source: California Regional MLS