NOT LISTED FOR SALE

128 E 21st St Costa Mesa, CA 92627

Eastside Costa Mesa Neighborhood
3 Beds
3 Baths
2,107 Sq Ft
6,754 Sq Ft Lot

Last Sold July 06, 2017

Last sale price $1,275,000 $605 Per Sq Ft

12 Days on Market

About This Home

As of July 2017

Well-located four-plex provides a rare opportunity in Eastside Costa Mesa. The property has solid income as a regular apartment and the current owner is taking advantage of using short-term rentals for even better cash flow. It’s priced to sell with three 1 bed/1 bath units and one 2 bed/1 bath unit. Upgrades include stone showers and surrounds, Spanish tile flooring, and upgraded kitchens and bathrooms. Great location that provides tenants access to major thoroughfare and close to restaurants in the middle of East Costa Mesa, as well as private outdoor space on the property. The property will be delivered with three units furnished and also has three storage buildings. Rents listed are in-place/proforma for normal apartment rents.

Last Agent to Sell the Property

Gary Tolfa

Triqor Group License #00955403 Listed on: 05/12/2017

Last Buyer's Agent

Christian Walsh

Berkshire Hathaway HomeServices California Properties License #01804983

Berkshire Hathaway HomeServices California Properties

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1949

Lot Details

  • 6,754 Sq Ft Lot
  • Two or More Common Walls
  • Density is 2-5 Units/Acre

Home Design

  • 2,107 Sq Ft Home
  • Quadruplex
  • Shingle Roof
  • Composition Roof

Bedrooms and Bathrooms

  • 3 Bedrooms
  • 3 Bathrooms

Parking

  • 5 Open Parking Spaces
  • 5 Parking Spaces
  • Parking Available
  • Unassigned Parking

Outdoor Features

  • Shed

Listing and Financial Details

  • Tax Lot 4
  • Tax Tract Number 183
  • Assessor Parcel Number 42612103

Community Details

Overview

  • 2 Buildings
  • 4 Units

Building Details

  • 4 Separate Electric Meters
  • Electric Expense $540
  • Gardener Expense $768
  • Insurance Expense $737
  • Maintenance Expense $3,200
  • Other Expense $1,798
  • Trash Expense $480
  • Water Sewer Expense $480
  • New Taxes Expense $13,644
  • Operating Expense $25,112
  • Gross Income $77,406
  • Net Operating Income $52,294

Property Details

Home Type

Multi-Family

Year Built

Built in 1949

Lot Details

0

Listing Details

  • CapRate: 4.00
  • Property Attached: Yes
  • Road Frontage Type: City Street
  • Road Surface Type: Paved
  • Subdivision Name Other: Eastside Central (ECCM)
  • Water Sewer Expenses: 480.00
  • Property Sub Type: Quadruplex
  • Property Type: Residential Income
  • Gardener Expense: 768.00
  • Parcel Number: 42612103
  • Year Built: 1949
  • Special Features: None

Interior Features

  • Common Walls: 2+ Common Walls
  • Levels: One
  • Price Per Square Foot: 605.13

Exterior Features

  • Other Structures: Shed(s)
  • Pool Private: No
  • Roof: Composition, Shingle

Garage/Parking

  • Parking: Yes
  • Parking Features: Unassigned
  • Total Parking Spaces: 5.00
  • Uncovered Spaces: 5.00

Utilities

  • Sewer: Public Sewer
  • Trash Expense: 480.00
  • Water Source: Public

Condo/Co-op/Association

  • Community Features: Sidewalks

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: 2-5 Units/Acre
  • Lot Size Sq Ft: 6754.00

Multi Family

  • Average1 Bed Area: 485 Square Feet
  • Average2 Bed Area: 650 Square Feet
  • Electric Expense: 540.00
  • Gross Multiplier: 16.29
  • Gross Operating Income: 77406.00
  • Gross Scheduled Income: 79800.00
  • Insurance Expense: 737.00
  • Maintenance Expense: 3200.00
  • Net Operating Income: 52294.00
  • Number Of Separate Electric Meters: 4
  • Number Of Units Total: 4
  • Operating Expense: 25112.00
  • Other Expense: 1798.00
  • Other Expense Description: Uti+Misc
  • Rent Control: No
  • Total Expenses: 25112.00
  • Vacancy Allowance Rate: 3.00

Tax Info

  • New Taxes Expense: 13644.00
  • Tax Census Tract: 632.01
  • Tax Lot: 4
  • Tax Tract Number: 183

Range of Values:

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Value Increase
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Percent Increase
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Adjusted for Inflation
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List Price
Sold Price
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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
07/06/2017 07/06/17 Sold $1,275,000 -1.9% $605 / Sq Ft
05/24/2017 05/24/17 Pending -- -- --
05/12/2017 05/12/17 For Sale $1,300,000 -- $617 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • Gary Tolfa

    Seller's Agent in 2017

    Gary Tolfa

    Triqor Group

    (949) 756-3232

    14 Total Sales

    Gary Tolfa
    Section Image
  • Christian Walsh

    Buyer's Agent in 2017

    Christian Walsh

    Berkshire Hathaway HomeServices California Properties

    (949) 677-3466

    83 Total Sales

    Christian Walsh
    Section Image
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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: PW17110753

California Regional Multiple Listing Service (CRMLS)

APN: 426-121-03

California Orange County Costa Mesa 92627 Eastside Costa Mesa

128 E 21st St, Costa Mesa, CA

Not Listed for Sale

MultiFamily

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