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$2,925,000

  • For Sale
  • Active
  • Single Family
  • 2 Beds
  • 2 Full Baths
  • 1,225 Sq. Ft.
  • 2 Car Garage
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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.

Full Property Details for 315 University Dr

General

  • Price: $2,925,000
  • Status: Active
  • Type: Single Family
  • Source: MRMLS
  • MLS ID: OC26041042
  • Updated: 3/20/2026
  • Days on Market: 46 days
  • Added to Site: 46 day(s) ago

Interior

  • Rooms/Areas: Galley Kitchen
  • Fireplace: Yes
  • Fireplace(s): Living Room

Rooms

Bathrooms

  • Total Bathrooms: 2
  • Full Bathrooms: 2

Bedrooms

  • Total Bedrooms: 2

Other Rooms

  • Laundry: Gas Dryer Hookup, Washer Hookup

Additional Information

  • Pool Description: None

Parking

  • Garage: Yes
  • Garage Spaces: 2

Location

  • County: Orange
  • Subdivision: Other (OTHR)
  • Driving Directions: Irvine Avenue to University Drive. Northwest to home.

School Information

  • School District: Newport Mesa Unified

Community

  • Community Features: Street Lights

Heating & Cooling

  • Cooling Type: Central Air
  • Heating Type: Forced Air, Central

Utilities

  • Sewer: Public Sewer
  • Water: Public

Structural Information

  • Structure Type: Single Family Residence
  • Common Walls: No Common Walls
  • Entry Location: 1
  • Stories/Levels: One
  • Stories Description: One
  • Square Feet: 1,225
  • Sq. Ft. Source: Estimated
  • Year Built: 1954
  • Year Built Source: Public Records

Lot Features

  • Property View: None
  • Lot Size (Acres): 0.21
  • Lot Size (Sq. Ft.): 9,148
  • Lot Size Source: Assessor
  • Zoning: R-4
  • Lot Description: 0-1 Unit/Acre

Financial Considerations

  • Price Per Sq. Ft.: $2,387.76

Disclosures and Reports

  • Special Conditions: Trust

Listed by Compass, Brian Sperry

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Listing agent

— 315 University Dr —

  • Brian Sperry

    Compass

949-667-3300

Get Pre-Approved Today

Be ready to buy your new home!

with our affiliated lender
NMLS#: 1598647

Get Pre-Approved

Be ready to buy your new home!

with our affiliated lender
NMLS#: 1598647

Get Pre-Approved

Schools serving 315 University Dr

School District:Newport-Mesa Unified School District
NameGradesDistance
Heinz Kaiser Elementary School
2130 Santa Ana Avenue, Costa Mesa, CA 92627
3-61.1 mi
Woodland Elementary School
2025 Garden Lane, Costa Mesa, CA 92627
K-21.3 mi
Horace Ensign Intermediate School
2000 Cliff Drive, Newport Beach, CA 92663
7-83 mi
Newport Harbor High School
600 Irvine Avenue, Newport Beach, CA 92663
9-122.7 mi
Disclaimer: School attendance boundaries provided by ATTOM Data Solutions and are for reference only. Contact the school directly to verify enrollment eligibility.

Price & Sales History for 315 University Dr Get Price Alerts and Save Property

Date
Details
Price
Change
Source
3/20/2026
Price Reduced
$2,925,000
-10%
MLS
2/25/2026
Listed
$3,250,000
128.07%
MLS
2/12/2021
Sold
$1,425,000
—
Public Record
Get Price Alerts and Save Property
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.

Tax History for 315 University Dr

Year
Property Taxes
Change
Tax Assessment
Change
2025
$16,975
2%
$1,542,465
2%
2024
$16,682
3%
$1,512,221
2%
2023
$16,260
2%
$1,482,570
2%
2022
$15,960
106%
$1,453,500
118%
2021
$7,744
1%
$667,808
1%
2020
$7,656
2%
$660,961
2%
2019
$7,494
2%
$648,001
2%
2018
$7,344
2%
$635,296
2%
2017
$7,221
2%
$622,840
2%
2016
$7,066
1%
$610,628
2%
2015
$6,999
2%
$601,456
2%
2014
$6,840
1%
$589,675
—
2013
$6,801
—
$587,010
—
View All
Disclaimer: Historical tax information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.

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*These costs are estimates, and the interest rates assume exceptional credit standing.

Be ready to buy your new home!

with our affiliated lender
NMLS#: 1598647

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Listed by Compass, Brian Sperry

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315 University Drive, Costa Mesa, CA 92627 (MLS# OC26041042) is a Single Family property with 2 bedrooms and 2 full bathrooms. 315 University Drive is currently listed for $2,925,000 and was received on February 25, 2026. Want to learn more about 315 University Drive? Do you have questions about finding other Single Family real estate for sale in Costa Mesa? You can browse all Costa Mesa real estate or contact a Coldwell Banker agent to request more information.

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