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  • 315 University Drive

315 University Drive, Costa Mesa, CA 92627

$2,675,000 Approx. USD 2 beds, 2 baths
1,225 sqft

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Photo of Lisa Cooper

Lisa Cooper REALTOR® - Sales Associate 949-300-1236 m
Lic#: 01084345
NRDS ID: 205500994
lisa@lisacooper.com Text Me
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Lic#: 01084345
NRDS ID: 205500994
lisa@lisacooper.com Monarch Beach Office
2 Ritz Carlton Drive, Ste, 201
Monarch Beach, CA 92629
Phone: 949-443-2000
Fax: 949-443-2209
 Monarch Beach 2 Ritz Carlton Drive, Ste, 201
Monarch Beach, CA 92629
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Fax: 949-443-2209
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Listing Agent


Brian Sperry | brian@briansperry.com
Lic#: 01478815
Broker: Courtesy of Compass
Phone: 949-667-3300

Agent Remarks

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 Details

Trust & Probate
Property type: Single Family Residence (Single Family)
Status: Active
MLS# OC26041042
List price is $2,675,000 Reduced by $250,000 on 5/20/2026
Price: $2,675,000
HOA Fee is $0.00
Beds: 2
Baths: 2 (2 full)
Living Room fireplaces
Built in 1954
1,225 sqft
1 story
0.21 acres
Lot size: 0.2100
Subdivision: Other
County: Orange
Zoning: R-4
Interior features: Galley Kitchen
Lot description: ZeroToOneUnitAcre
Heating/cooling: Central Air
Heating description: Central,Forced Air
MLS area: C5 - East Costa Mesa

Last Updated: 8/18/2026

 Days On Market (DOM): 177

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This listing belongs to the C5 - East Costa Mesa MLS area

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Lat/Long: 33.657706, -117.890200.
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DISCLAIMER: There is NO WARRANTY, expressed or implied, for the accuracy of this information or its applicability to your financial situation. Please consult your financial and/or tax advisor. GET PRE-APPROVED The loan's interest rate will depend upon the specific characteristics of the loan transaction and credit profile up to the time of closing.

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Photo of Lisa Cooper

Lisa Cooper REALTOR® - Sales Associate 949-300-1236 m
Lic#: 01084345
NRDS ID: 205500994
lisa@lisacooper.com Text Me
Call My Cell
Lic#: 01084345
NRDS ID: 205500994
lisa@lisacooper.com
Monarch Beach Office
2 Ritz Carlton Drive, Ste, 201
Monarch Beach, CA 92629
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