I
Seller's Agent in 2019
Ignacio Diaz Jr
Investment Capital Real Estate
(949) 201-8817
11 Total Sales
116 E 21st St Costa Mesa, CA 92627
Eastside Costa Mesa Neighborhood
12
Beds
6
Baths
7,280
Sq Ft
0.32
Acres
About This Home
As of March 2019Pride of ownership, 8 Units, located in highly desired East Costa Mesa, one of Orange County's premier rental markets bordering the affluent city of Newport Beach. From this location tenants enjoy convenient access to world class beaches, the Newport Back Bay Trails, a plethora of hip dining establishments and South Coast Plaza, the nation's largest shopping center on the West Coast. The East 21st Street Apartment Homes have been immaculately maintained by the current ownership with several interior and exterior renovations completed. Improvements include dual pane windows, kitchens, cabinets, granite counters, stand-up showers, remote access iron gates, concrete stairs, new asphalt sealcoat, modern exterior paint scheme and much more. A collection of eight spacious 2 bedroom units with an average size of roughly 910 square feet each. The size of the units and the location, have made these units easy to rent, attracted longer-term tenants and has produced solid income. Current rents average $1,692 and market rents are roughly $1,975 for similar rentals. An excellent investment property for an astute investor with roughly 15% of upside in rental income.
Last Agent to Sell the Property
Investment Capital Real Estate License #01379930 Listed on: 11/06/2018
Property Details
Home Type
- Multi-Family
Year Built
- Built in 1963
Lot Details
- 0.32 Acre Lot
- Two or More Common Walls
Home Design
- Property Attached
Interior Spaces
- 7,280 Sq Ft Home
- 2-Story Property
- Laundry Room
Bedrooms and Bathrooms
- 12 Bedrooms
- 6 Bathrooms
Parking
- 11 Open Parking Spaces
- 19 Parking Spaces
- 8 Carport Spaces
- Parking Available
- Assigned Parking
Listing and Financial Details
- Tax Lot 02
- Tax Tract Number 121
- Assessor Parcel Number 42612102
Community Details
Overview
- 2 Buildings
- 8 Units
Building Details
- 8 Leased Units
- 9 Separate Electric Meters
- 9 Separate Gas Meters
- 1 Separate Water Meter
- Electric Expense $775
- Fuel Expense $1,235
- Gardener Expense $1,200
- Insurance Expense $2,360
- Other Expense $2,000
- Trash Expense $3,739
- Water Sewer Expense $2,109
- New Taxes Expense $36,511
- Operating Expense $49,929
- Gross Income $192,900
- Net Operating Income $144,956
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Home Values in the Area
Average Home Value in this Area
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft |
|---|---|---|---|---|
| 03/01/2019 03/01/19 | Sold | $3,175,000 | -2.3% | $436 / Sq Ft |
| 01/21/2019 01/21/19 | Pending | -- | -- | -- |
| 11/06/2018 11/06/18 | For Sale | $3,250,000 | -- | $446 / Sq Ft |
Source: California Regional Multiple Listing Service (CRMLS)
Tax History Compared to Growth
Agents Affiliated with this Home
-
Ignacio Diaz Jr
-
Melinda Cross
M
Buyer's Agent in 2019
Melinda Cross
Pacific Sotheby's Int'l Realty
(949) 270-6096
2 Total Sales
Map
Source: California Regional Multiple Listing Service (CRMLS)
MLS Number: NP18267583
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The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable copyright laws. Information provided is for viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and CRMLS and its affiliates do not warrant or guarantee such accuracy. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional.
Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information
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