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. Adjacent property (317 University Drive) is also available for sale by a different seller to potentially develop a larger property.

Listing Status:

Active

Date Added:

February 25, 2026

Data Last Updated:

August 24, 2026 at 7:12AM

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