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315 University Drive, 
Costa Mesa, CA 92627

$3,250,000

2

Beds

2

Baths

1,225

Sq Ft

Single Family

Active

Listed by

Brian Sperry

Compass

, 

Non Listed Office

Last updated:

February 27, 2026, 05:34 AM

MLS#

OC26041042

Source:

San Diego MLS via CRMLS

About This Home

315 University Drive

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.

Home Facts

Single Family

2 Baths

2 Bedrooms

Built in 1954

Price Summary

3,250,000

$2,653 per Sq. Ft.

MLS #:

OC26041042

Last Updated:

February 27, 2026, 05:34 AM

Rooms & Interior

Bedrooms

Total Bedrooms:

2

Bathrooms

Total Bathrooms:

2

Full Bathrooms:

2

Interior

Living Area:

1,225 Sq. Ft.

Structure

Structure

Building Area:

1,225 Sq. Ft.

Year Built:

1954

Finances & Disclosures

Finances

Price:

$3,250,000

Price per Sq. Ft:

$2,653 per Sq. Ft.

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Contact an Agent

Yes, I would like more information. Please use and/or share my information with a Coldwell Banker ® affiliated agent to contact me about my real estate needs. By clicking Contact, I request to be contacted by phone or text message and consent to being contacted by automated means. I understand that my consent to receive calls or texts is not a condition of purchasing any property, goods, or services. Alternatively, I understand that I can access real estate services by email or I can contact the agent myself.

If a Coldwell Banker affiliated agent is not available in the area where I need assistance, I agree to be contacted by a real estate agent affiliated with another brand owned or licensed by Anywhere Real Estate (BHGRE®, CENTURY 21®, Corcoran®, ERA®, or Sotheby's International Realty®). I acknowledge that I have read and agree to the terms of use and privacy notice.