About 315 University Drive
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-bath 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 to verify all development standards and requirements with the City of Costa Mesa and County of Orange.
Features of 315 University Drive
| MLS® # | OC26197241 |
|---|---|
| Price | $2,400,000 |
| Bedrooms | 2 |
| Bathrooms | 2.00 |
| Full Baths | 2 |
| Square Footage | 1,225 |
| Acres | 0.21 |
| Year Built | 1954 |
| Type | Residential |
| Sub-Type | Single Family Residence |
| Status | Active |
Community Information
| Address | 315 University Drive |
|---|---|
| Area | C5 - East Costa Mesa |
| Subdivision | Other |
| City | Costa Mesa |
| County | Orange |
| Zip Code | 92627 |
Amenities
| Utilities | Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected |
|---|---|
| Parking Spaces | 2 |
| Parking | Driveway, Garage Faces Front |
| # of Garages | 2 |
| Garages | Driveway, Garage Faces Front |
| View | None |
| Is Waterfront | No |
| Has Pool | No |
| Pool | None |
Interior
| Interior | Vinyl |
|---|---|
| Interior Features | Ceiling Fan(s), Open Floorplan, Stone Counters, Recessed Lighting, Bedroom on Main Level, Main Level Primary, Primary Suite, Walk-In Closet(s), Galley Kitchen |
| Appliances | Dishwasher, Freezer, Microwave, Refrigerator |
| Heating | Central, Forced Air |
| Cooling | Central Air |
| Has Basement | No |
| Fireplace | Yes |
| Fireplaces | Living Room |
| # of Stories | 1 |
| Stories | One |
Exterior
| Lot Description | ZeroToOneUnitAcre, Back Yard |
|---|
School Information
| District | Newport Mesa Unified |
|---|
Additional Information
| Date Listed | September 9th, 2026 |
|---|---|
| Zoning | R-4 |
| Foreclosure | No |
| Short Sale | No |
| RE / Bank Owned | No |
Listing Details
| Agent | Brian Sperry |
|---|---|
| Office | Compass |