Costa Mesa homes breaking $1-million mark

Alicia Robinson

You have to figure that if Costa Mesa could just get its own

waterfront, home prices really would shoot through the roof. But even

without the water, a home on Costa Mesa’s Eastside just broke a glass

ceiling of sorts, closing at $1.1 million last week.

And it’s not the first. Two other Eastside houses have sold for at

least $1 million in the last six months, though those weren’t

formally listed for sale, said Robert Pfeif, a real estate agent for

Strada Properties.

Pfeif handled the recent $1.1 million sale of a house in the 400

block of Cabrillo Street. Selling points included the four bedrooms

and nearly 3,000 square feet, a large lot, a sought-after elementary

school and the neighborhood’s family atmosphere.

“When we brought it on [the market] we knew it was a big number

for the neighborhood, but at the same time it was a good, big house,”

Pfeif said.

The buyer was among the first to see the house and made an offer

the same day.

“We were very happy to get it,” said happy homeowner David

Schneider, who bought the house with his wife, Virginia. “It’s a

desirable neighborhood. [Price will] always continue to go up.”

Others have been noticing the neighborhood for its proximity to

Newport Beach, which borders the Eastside on two sides.

“You’ve got a lot of people that probably wouldn’t cross over the

[Costa Mesa Freeway] but they would be willing to live on the

Eastside ... but it’s the same city,” Pfeif said.

Neighbors aren’t surprised at the house’s high price tag. They’ve

been seeing home prices in their area jump higher and higher. Another

house on Cabrillo Street is poised to sell for $900,000, and it

needs work, said Chantelle Wolfe, who lives next door to the house

that closed at $1.1 million.

Though she initially felt her own investment might be a little

shaky, she’s seen her home’s worth climb since she moved there in

1988.

“We thought we were crazy, we’d never get our money back out of

the house,” she said. “I bet you could sell this house for $1 million

right now.”

As the Eastside becomes pricier, Pfeif expects to see more of the

teardown remodeling jobs that are already visible in the area. And

along with the refurbishing of homes will come more gentrification of

prices.

“Eastside Costa Mesa has always been undervalued,” said Kent

McNaughton, an agent with First Team Real Estate. “You get a lot more

square footage as far as lot size and your proximity to Newport Beach

and coastal amenities is close.”

McNaughton said he wouldn’t be surprised if Eastside homes start

listing at $1.5 to $2 million in the next five years.

And as Costa Mesa home prices compete with those in Newport Beach,

business may get more competitive for real estate brokers.

Though in the past he’s worked mainly in Newport, McNaughton said,

“I’m actually reevaluating my marketing plan to try and pursue more

of Eastside Costa Mesa just because of the activity level.”

* ALICIA ROBINSON covers business, politics and the environment.

She may be reached by telephone at (949) 764-4330 or by e-mail at

alicia.robinson@latimes.com.