118 Magnolia St Costa Mesa, CA 92627
Downtown Costa Mesa NeighborhoodEstimated Value: $1,951,000 - $2,664,000
3
Beds
3
Baths
1,739
Sq Ft
$1,258/Sq Ft
Est. Value
Highlights
- Detached Guest House
- Primary Bedroom Suite
- Main Floor Primary Bedroom
- Heinz Kaiser Elementary School Rated A
- Updated Kitchen
- No HOA
About This Home
As of August 2022Turnkey Eastside Costa Mesa Two Homes on one Lot in Prime Location, walking distance to Triangle Square, 17th Street Restaurants, Grocery Stores, Salons, Newport Beach Schools, and only 1.7 miles to Newport Beach Harbor. This investment opportunity affords the new owner extremely low maintenance, desirable finishes for excellent rental rates, and upgraded mechanical systems. The property has gone through two phases of development. Unit A - the original main house was one bedroom and one bath before adding dual master suites in 2020. It is now 3 bedrooms and 3 walk-in showers which makes the home ideal for room-share or multi-adult households. The kitchen, flooring, bathrooms, windows, have all be replaced/upgraded, including partial siding replacement, and a 2020 roof. This unit currently utilizes the detached two car garage and has shared common area outdoor space. Unit B - 2022 new construction second story one bedroom one bath with full size kitchen, family room and in-unit laundry. This unit is permitted as an Accessory Dwelling Unit with separate address, laundry, storage room, fully paid solar panels, separate electric meter, separate gas meter, and shared water meter. The two units are entirely detached. Both units have all appliances including inside laundry which will convey with the property. See upgrade list for additional details. Property is also listed as Multi-Family MLS# PW22111293
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $20,599
Year Built
- Built in 2020
Lot Details
- 4,028 Sq Ft Lot
- No Common Walls
- Rectangular Lot
- Front Yard
Parking
- 2 Car Garage
- Parking Available
Home Design
- Duplex
- Composition Roof
Interior Spaces
- 1,739 Sq Ft Home
- 2-Story Property
- Family Room
- Vinyl Flooring
- Laundry Room
Kitchen
- Updated Kitchen
- Gas Range
- Dishwasher
Bedrooms and Bathrooms
- 3 Main Level Bedrooms
- Primary Bedroom on Main
- Primary Bedroom Suite
- Double Master Bedroom
- 3 Full Bathrooms
Additional Homes
- Two Homes on a Lot
- Detached Guest House
Location
- Suburban Location
Utilities
- Forced Air Heating and Cooling System
- Heat Pump System
- 220 Volts in Garage
- Tankless Water Heater
Community Details
- No Home Owners Association
- 2 Units
Listing and Financial Details
- Tax Lot 3
- Tax Tract Number 847
- Assessor Parcel Number 42545130
- $714 per year additional tax assessments
Ownership History
Date
Name
Owned For
Owner Type
Purchase Details
Closed on
Mar 13, 2024
Sold by
Rethmeier Family Trust
Bought by
Tran Tien and Nguyen Myhuong Thi
Total Days on Market
1
Current Estimated Value
Purchase Details
Closed on
Jun 2, 2022
Sold by
Prather Chasin A and Prather Cory L
Bought by
Rethmeier Family Trust
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$1,345,000
Interest Rate
4.75%
Mortgage Type
New Conventional
Purchase Details
Listed on
Mar 16, 2020
Closed on
Jul 14, 2020
Sold by
Santaniello Karen
Bought by
Santaniello J Bryce
Seller's Agent
Karen Santaniello
Santaniello, Affiliates, Inc.
Buyer's Agent
Chasin Prather
Chasin RE
List Price
$850,000
Sold Price
$810,000
Premium/Discount to List
-$40,000
-4.71%
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
22.90%
Original Mortgage
$765,600
Interest Rate
3.1%
Mortgage Type
New Conventional
Purchase Details
Listed on
Mar 16, 2020
Closed on
Jul 1, 2020
Sold by
Santaniello J Bryce
Bought by
Prather Chasin A and Prather Cory L
Seller's Agent
Karen Santaniello
Santaniello, Affiliates, Inc.
Buyer's Agent
Chasin Prather
Chasin RE
List Price
$850,000
Sold Price
$810,000
Premium/Discount to List
-$40,000
-4.71%
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$765,600
Interest Rate
3.1%
Mortgage Type
New Conventional
Purchase Details
Listed on
Jan 23, 2018
Closed on
Feb 9, 2018
Sold by
Colton James Brady and Colton Kyle Elziabeth
Bought by
Santallieo J Bryce
Seller's Agent
Alison Eastman
Compass
Buyer's Agent
Bryce Santaniello
Santaniello, Affiliates, Inc.
List Price
$739,000
Sold Price
$685,000
Premium/Discount to List
-$54,000
-7.31%
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
7.26%
Original Mortgage
$548,000
Interest Rate
4.22%
Mortgage Type
New Conventional
Purchase Details
Listed on
Apr 10, 2015
Closed on
Dec 18, 2015
Sold by
Kotanian Daniel G
Bought by
Colton James Brady and Colton Kyle Elizabeth
Seller's Agent
Stephen Doughty
Coldwell Banker Platinum Prop
Buyer's Agent
Alison Eastman
Compass
List Price
$624,900
Sold Price
$575,000
Premium/Discount to List
-$49,900
-7.99%
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
8.65%
Original Mortgage
$460,000
Interest Rate
3.93%
Mortgage Type
New Conventional
Purchase Details
Closed on
Jul 6, 2001
Sold by
Mcnulty Mary D
Bought by
Kotanian Daniel G
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$60,000
Interest Rate
7.09%
Mortgage Type
Seller Take Back
Similar Homes in the area
Create a Home Valuation Report for This Property
The Home Valuation Report is an in-depth analysis detailing your home's value as well as a comparison with similar homes in the area
Home Values in the Area
Average Home Value in this Area
Purchase History
| Date | Buyer | Sale Price | Title Company |
|---|---|---|---|
| Tran Tien | $1,888,500 | First American Title Company | |
| Rethmeier Family Trust | $1,825,000 | Ticor Title | |
| Santaniello J Bryce | -- | First American Title Company | |
| Prather Chasin A | $810,000 | First American Title Company | |
| Santallieo J Bryce | $685,000 | First American Title Co | |
| Colton James Brady | $575,000 | Lawyers Title | |
| Kotanian Daniel G | $260,000 | Fidelity National Title Ins |
Source: Public Records
Mortgage History
| Date | Status | Borrower | Loan Amount |
|---|---|---|---|
| Previous Owner | Rethmeier Family Trust | $1,345,000 | |
| Previous Owner | Prather Chasin A | $1,023,000 | |
| Previous Owner | Prather Chasin A | $765,600 | |
| Previous Owner | Santallieo J Bryce | $548,000 | |
| Previous Owner | Colton James Brady | $460,000 | |
| Previous Owner | Kotanian Daniel G | $380,000 | |
| Previous Owner | Kotanian Daniel G | $230,000 | |
| Previous Owner | Kotanian Daniel G | $85,000 | |
| Previous Owner | Kotanian Daniel G | $60,000 |
Source: Public Records
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 08/05/2022 08/05/22 | Sold | $1,825,000 | +4.3% | $1,049 / Sq Ft |
| 05/26/2022 05/26/22 | For Sale | $1,750,000 | +116.0% | $1,006 / Sq Ft |
| 08/03/2020 08/03/20 | Sold | $810,000 | -10.0% | $650 / Sq Ft |
| 07/17/2020 07/17/20 | Pending | -- | -- | -- |
| 05/28/2020 05/28/20 | Price Changed | $900,000 | +5.9% | $722 / Sq Ft |
| 05/23/2020 05/23/20 | For Sale | $850,000 | +4.9% | $682 / Sq Ft |
| 05/21/2020 05/21/20 | Off Market | $810,000 | -- | -- |
| 05/04/2020 05/04/20 | Price Changed | $700,000 | -9.7% | $561 / Sq Ft |
| 03/16/2020 03/16/20 | For Sale | $775,000 | +13.1% | $621 / Sq Ft |
| 03/15/2018 03/15/18 | Sold | $685,000 | -7.3% | $1,027 / Sq Ft |
| 02/02/2018 02/02/18 | Pending | -- | -- | -- |
| 01/23/2018 01/23/18 | For Sale | $739,000 | +28.5% | $1,108 / Sq Ft |
| 02/05/2016 02/05/16 | Sold | $575,000 | -3.4% | $862 / Sq Ft |
| 12/16/2015 12/16/15 | Pending | -- | -- | -- |
| 11/17/2015 11/17/15 | Price Changed | $595,000 | -4.8% | $892 / Sq Ft |
| 10/02/2015 10/02/15 | For Sale | $624,900 | 0.0% | $937 / Sq Ft |
| 09/19/2015 09/19/15 | Pending | -- | -- | -- |
| 08/16/2015 08/16/15 | For Sale | $624,900 | 0.0% | $937 / Sq Ft |
| 08/10/2015 08/10/15 | Pending | -- | -- | -- |
| 05/19/2015 05/19/15 | Price Changed | $624,900 | -3.8% | $937 / Sq Ft |
| 04/14/2015 04/14/15 | Price Changed | $649,900 | -3.7% | $974 / Sq Ft |
| 04/10/2015 04/10/15 | For Sale | $674,900 | +17.4% | $1,012 / Sq Ft |
| 03/31/2015 03/31/15 | Off Market | $575,000 | -- | -- |
| 10/21/2014 10/21/14 | For Sale | $674,900 | -- | $1,012 / Sq Ft |
Source: California Regional Multiple Listing Service (CRMLS)
Tax History Compared to Growth
Tax History
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2024 | $20,599 | $1,861,500 | $1,648,142 | $213,358 |
| 2023 | $20,051 | $1,825,000 | $1,615,825 | $209,175 |
| 2022 | $9,483 | $826,200 | $715,435 | $110,765 |
| 2021 | $9,236 | $810,000 | $701,406 | $108,594 |
| 2020 | $8,717 | $762,143 | $684,297 | $77,846 |
| 2019 | $8,023 | $698,700 | $670,880 | $27,820 |
| 2018 | $6,951 | $598,230 | $572,825 | $25,405 |
| 2017 | $6,834 | $586,500 | $561,593 | $24,907 |
| 2016 | $4,059 | $324,458 | $292,297 | $32,161 |
| 2015 | $4,020 | $319,585 | $287,907 | $31,678 |
| 2014 | $3,932 | $313,325 | $282,267 | $31,058 |
Source: Public Records
Agents Affiliated with this Home
-
Chasin Prather
Seller's Agent in 2022
Chasin Prather
Chasin RE
(714) 709-3785
4 in this area
72 Total Sales
-
Laura Spencer
Buyer's Agent in 2022
Laura Spencer
T.N.G. Real Estate Consultants
(714) 420-5534
2 in this area
75 Total Sales
-
Karen Santaniello
Seller's Agent in 2020
Karen Santaniello
Santaniello, Affiliates, Inc.
(949) 705-7373
1 in this area
4 Total Sales
-
Alison Eastman
Seller's Agent in 2018
Alison Eastman
Compass
(949) 466-5408
1 in this area
11 Total Sales
-
Katie Dickerson
Seller Co-Listing Agent in 2018
Katie Dickerson
Compass
(949) 554-1200
2 in this area
13 Total Sales
-
B
Buyer's Agent in 2018
Bryce Santaniello
Santaniello, Affiliates, Inc.
Map
Source: California Regional Multiple Listing Service (CRMLS)
MLS Number: PW22112591
APN: 425-451-30
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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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