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315 University DriveCosta Mesa, CA 92627
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.
| yesterday | Listing first seen on site | |
| yesterday | Listing updated with changes from the MLS® |
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Property Details for 315 University Drive
This 2-bedroom, 2-bath single-family home sits in Costa Mesa in Orange County. It offers 1,225 square feet of living space and is listed at $2,400,000, about $1,959 per square foot. The home was built in 1954. Highlights include a fireplace, single-story living, an attached two-car garage, a 9,148-square-foot lot, and central air. The detail sections on this page cover interior and exterior features, estimated taxes, HOA dues where they apply, and the map location.
About Costa Mesa
Costa Mesa sits on the coastal tableland of central Orange County, bordered by Santa Ana, Huntington Beach, and Newport Beach, with its southern edge about a mile from the Pacific. South Coast Plaza, the Segerstrom Center for the Arts, the Orange County Fairgrounds, Orange Coast College, and the Eastside and Mesa Verde neighborhoods all fall within the Newport-Mesa Unified School District.
In Other, 8 single-family homes have closed in the last 90 days at a median of $1,717,500, based on recorded MLS closings. The median was 10 days on market before going under contract.
Estimated monthly payment
6.71% · 30-yr fixedEstimate only, not a loan offer or quote. Principal and interest use the Freddie Mac 30-year fixed average of 6.71% (week of Sep 3, 2026); your rate will differ. A loan this size is typically a jumbo loan, which prices differently. Tax and insurance are modelled, not billed amounts; tax uses a typical Costa Mesa rate, excluding Mello-Roos. Verify all figures. Full assumptions and disclosures.
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Photos of 315 University Drive, Costa Mesa
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Also for sale in Costa Mesa: 302 Canoe Pond, 2608 Fairway, 278 Santo Tomas, 273 Mesa.
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