NOT LISTED FOR SALE
4 Beds
4 Baths
2,459 Sq Ft
4,029 Sq Ft Lot

Last Sold March 14, 2024

Last sale price $2,038,500 $829 Per Sq Ft

26 Days on Market

Highlights

  • Quartz Countertops
  • No HOA
  • Recessed Lighting
  • Heinz Kaiser Elementary School Rated A
  • Double Pane Windows
  • Laundry Room

About This Home

As of March 2024

We are pleased to present the sale of 122 Magnolia Street, a 4 unit multifamily property located in Eastside Costa Mesa. Each unit features 1 bedroom, 1 bathroom, and approximately 605 square feet of living space. Each unit boasts laminate flooring, recessed lighting, white cabinetry, quartz countertops, and stainless steel appliances. Each unit is separately metered for gas and electricity and comes with 1 designated parking space per unit. The detached two car garage is leased separately. Other features include dual pane windows, tankless water heaters, and a community laundry area with owed coin operated machines. This asset is located in one of the most desirable rental markets in Orange County and offers tenants close proximity to beaches, parks, Triangle Square, and all the amenities 17th Street has to offer!

Last Agent to Sell the Property

Chris Maddy

Pacific Sotheby's Int'l Realty Brokerage Phone: 949-294-5408 License #01946797 Listed on: 01/15/2024

Pacific Sotheby's Int'l Realty

Co-Listed By

Tim Carr

Pacific Sotheby's Int'l Realty Brokerage Phone: 949-294-5408 License #01017277

Last Buyer's Agent

Mike O’Neill

CB Richard Ellis, Inc. License #02036937

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1961

Lot Details

  • 4,028 Sq Ft Lot
  • No Common Walls
  • Density is up to 1 Unit/Acre

Parking

  • 2 Car Garage
  • Parking Available
  • Parking Lot

Home Design

  • Quadruplex
  • Entry on the 2nd floor
  • Composition Roof

Interior Spaces

  • 2,459 Sq Ft Home
  • 2-Story Property
  • Ceiling Fan
  • Recessed Lighting
  • Double Pane Windows
  • Laminate Flooring
  • Laundry Room

Kitchen

  • Gas Cooktop
  • Microwave
  • Dishwasher
  • Quartz Countertops

Bedrooms and Bathrooms

  • 4 Bedrooms
  • 4 Bathrooms

Home Security

  • Carbon Monoxide Detectors
  • Fire and Smoke Detector

Utilities

  • Wall Furnace

Listing and Financial Details

  • Tax Lot 4
  • Tax Tract Number 847
  • Assessor Parcel Number 42545129

Community Details

Overview

  • No Home Owners Association
  • 4 Units
  • Eastside Central Subdivision

Amenities

  • Laundry Facilities

Recreation

  • Bike Trail

Building Details

  • 5 Separate Electric Meters
  • 5 Separate Gas Meters
  • 1 Separate Water Meter
  • Electric Expense $1,500
  • Fuel Expense $180
  • Insurance Expense $2,500
  • Maintenance Expense $2,000
  • Water Sewer Expense $1,200
  • New Taxes Expense $22,040
  • Operating Expense $31,520
  • Gross Income $6,400
  • Net Operating Income $81,968

Property Details

Home Type

Multi-Family

Year Built

Built in 1961

Lot Details

4,028 Sq Ft Lot

Parking

2

Listing Details

  • Property Attached: No
  • Security: Carbon Monoxide Detector(s), Smoke Detector(s)
  • Subdivision Name Other: Eastside Central (ECCM)
  • View: No
  • Water Sewer Expenses: 1200.00
  • Property Sub Type: Quadruplex
  • Property Type: Residential Income
  • Parcel Number: 42545129
  • Year Built: 1961
  • Special Features: None

Interior Features

  • Fireplace: No
  • Interior Amenities: Ceiling Fan(s), Quartz Counters, Recessed Lighting
  • Stories: 2
  • Common Walls: No Common Walls
  • Flooring: Laminate
  • Appliances: Yes
  • Entry Level: 2
  • Levels: Two
  • Price Per Square Foot: 829.00
  • Room Type: Kitchen
  • Window Features: Double Pane Windows

Exterior Features

  • Pool Private: No
  • Roof: Composition
  • Spa: No

Garage/Parking

  • Garage Spaces: 2.00
  • Parking: Yes
  • Parking Features: Parking Space
  • Total Parking Spaces: 6.00

Utilities

  • Heating: Yes
  • Laundry: Yes
  • Appliances: Dishwasher, Gas Cooktop, Microwave
  • Heating Type: Wall Furnace
  • Laundry Features: Community
  • Sewer: Public Sewer
  • Water Source: Public

Condo/Co-op/Association

  • Association: No
  • Senior Community: No
  • Common Interest: Community Apartment
  • Community Features: Biking, Curbs, Sidewalks

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: 0-1 Unit/Acre
  • Lot Size Sq Ft: 4028.00
  • Lot Size Acres: 0.0925

Rental Info

  • Garage Rental Rate: 450.00

Multi Family

  • Average1 Bed Area: 605 Square Feet
  • Electric Expense: 1500.00
  • Fuel Expense: 180.00
  • Gross Income: 6400.00
  • Gross Operating Income: 113488.00
  • Gross Scheduled Income: 116800.00
  • Insurance Expense: 2500.00
  • Laundry Income: 1000.00
  • Lot Size Area: 4028.0000 Square Feet
  • Maintenance Expense: 2000.00
  • Net Operating Income: 81968.00
  • Number Of Rented Garages: 1
  • Number Of Separate Electric Meters: 5
  • Number Of Separate Gas Meters: 5
  • Number Of Separate Water Meters: 1
  • Number Of Units Total: 4
  • Operating Expense: 31520.00
  • Rent Control: No
  • Total Expenses: 31520.00

Tax Info

  • New Taxes Expense: 22040.00
  • Tax Census Tract: 633.01
  • Tax Lot: 4
  • Tax Tract Number: 847
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Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft Prior Sale
03/14/2024 03/14/24 Sold $2,038,500 -2.9% $829 / Sq Ft
02/10/2024 02/10/24 Pending -- -- --
01/30/2024 01/30/24 Price Changed $2,099,000 -4.4% $854 / Sq Ft
01/15/2024 01/15/24 For Sale $2,195,000 +161.3% $893 / Sq Ft
09/13/2013 09/13/13 Sold $840,000 -5.1% $342 / Sq Ft View Prior Sale
08/15/2013 08/15/13 Pending -- -- --
08/04/2013 08/04/13 For Sale $885,000 -- $360 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

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
2025 $13,802 $2,079,270 $1,832,351 $246,919
2024 $13,802 $1,009,528 $907,910 $101,618
2023 $13,259 $989,734 $890,108 $99,626
2022 $12,736 $970,328 $872,655 $97,673
2021 $12,250 $951,302 $855,544 $95,758
2020 $12,076 $941,548 $846,771 $94,777
2019 $11,804 $923,087 $830,168 $92,919
2018 $11,563 $904,988 $813,890 $91,098
2017 $11,534 $887,244 $797,932 $89,312
2016 $11,304 $869,848 $782,287 $87,561
2015 $11,196 $856,783 $770,537 $86,246
2014 $10,957 $840,000 $755,443 $84,557
Source: Public Records

Agents Affiliated with this Home

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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: NP24006846

California Regional Multiple Listing Service (CRMLS)

APN: 425-451-29

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