315 University Drive, Costa Mesa, CA 92627
315 University Drive, Costa Mesa, CA 92627
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.
Features & Amenities
Property Details
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Comparative Market Analysis
Luxury Tier · 5 active · 5 closed
Costa Mesa · Single Family Residence
Listed 100.0% above the median closed sale of $1,200,000. Price per sqft ($1,959) is a 77% premium to closed comps ($1,109). Closed comps sold at 102% of list — strong seller's market. Luxury tier — fewer comparable sales widen the confidence range.
Price Position
Positioned above the market — commands a premium.
Active Properties (5)
Active Comparables
| Address | City | Year | BD | BTH | SqFt | LotSz | LP/SqFt | LP | DIM | Score |
|---|---|---|---|---|---|---|---|---|---|---|
| 703 Center | Costa Mesa | 1954 | 3 | 2 | 1,107 | 8,100 | $1,165 | $1.29M | 10 | 90 |
| 379 Walnut Street | Costa Mesa | 1953 | 3 | 1 | 1,050 | 9,235 | $2,376 | $2.50M | 66 | 88 |
| 2835 Portola | Costa Mesa | 1960 | 3 | 2 | 1,294 | 6,882 | $1,314 | $1.70M | 15 | 87 |
| 3095 College Avenue | Costa Mesa | 1956 | 3 | 2 | 1,250 | 6,400 | $1,160 | $1.45M | 45 | 87 |
| 268 Bay | Costa Mesa | 1958 | 3 | 2 | 1,216 | 6,000 | $1,850 | $2.25M | 19 | 86 |
| Total: 5 · Average | 3.0 | 1.8 | 1,183.4 | 7,323.4 | $1,573 | $1.84M | 31 | |||
| Median | 1,216 | $1.70M | ||||||||
Closed Properties (5)
Closed Comparables
| Address | City | Year | Date | BD | BTH | SqFt | LotSz | LP | SP | SP/SqFt | SP/LP | DIM | Score |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2211 Meyer | Costa Mesa | 1954 | 09/17/2026 | 3 | 2 | 1,050 | 7,830 | $1.15M | $1.20M | $1,143 | 1.04 | 21 | 88 |
| 2243 Miner | Costa Mesa | 1957 | 09/04/2026 | 3 | 2 | 1,152 | 7,020 | $999,999 | $1.13M | $977 | 1.13 | 38 | 87 |
| 1950 Anaheim | Costa Mesa | 1957 | 09/22/2026 | 3 | 2 | 1,314 | 6,000 | $1.00M | $1.00M | $761 | 1.00 | 25 | 84 |
| 195 Broadway | Costa Mesa | 1930 | 10/06/2026 | 3 | 3 | 1,293 | 7,405 | $1.90M | $1.75M | $1,353 | 0.92 | 46 | 83 |
| 192 Buoy | Costa Mesa | 1957 | 09/03/2026 | 3 | 2 | 1,452 | 6,495 | $1.88M | $1.90M | $1,309 | 1.01 | 66 | 81 |
| Total: 5 · Average | 3.0 | 2.2 | 1,252.2 | 6,950 | $1.40M | $1.40M | $1,108.6 | — | 39.2 | ||||
| Median | 1,293 | $1.20M | $1.20M | ||||||||||
Market Analysis
List vs Sale $/SqFt
Sale Price Trend
Days on Market
Sale vs List Price
This analysis was generated automatically from MLS data. For an in-depth, human-reviewed valuation, contact Joseph Sardella at josephsardella@gmail.com.