NOT LISTED FOR SALE
5 Beds
4 Baths
2,400 Sq Ft
6,534 Sq Ft Lot

Last Sold February 13, 2024

Last sale price $1,211,312 $505 Per Sq Ft

37 Days on Market

Highlights

  • Open Floorplan
  • No HOA
  • Forced Air Heating and Cooling System
  • California Elementary School Rated A
  • Laundry Room
  • 3-minute walk to Smallwood Park

About This Home

As of February 2024

Located in the Heart of Costa Mesa, this upgraded duplex has been very well maintained with dependable, long-term tenants in place. Current Cap Rate is 2.6%, with an upside of 4% with some changes. One unit is a 3 bedroom, 2 bath home with a large living room, remodeled kitchen, newer flooring, direct access to the 2 car garage, and a good size backyard. The 2nd unit is a 2 bed, 1.5 bath, remodeled home, also with direct garage access and a large backyard. There are separate laundry hookups in the garage for each tenant. Located in a very desirable area, this home has extremely low vacancy. Perfect for an Owner User or a 1031 Exchange Buyer, this investment property is not to be overlooked. Schedule a viewing today!!!

Last Agent to Sell the Property

Michael Doyle

Coldwell Banker Realty License #01758185 Listed on: 11/21/2023

Coldwell Banker Realty

Last Buyer's Agent

Denise Townsend

Townsend Realty License #00379786

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1970

Lot Details

  • 6,534 Sq Ft Lot
  • No Common Walls
  • Wood Fence
  • Back and Front Yard

Parking

  • 3 Car Garage
  • Parking Available
  • Driveway

Home Design

  • Duplex
  • Entry on the 1st floor
  • Turnkey
  • Flat Roof Shape
  • Slab Foundation
  • Stucco

Interior Spaces

  • 2,400 Sq Ft Home
  • 1-Story Property
  • Open Floorplan
  • Living Room with Fireplace
  • Laminate Flooring

Kitchen

  • Free-Standing Range
  • Dishwasher

Bedrooms and Bathrooms

  • 5 Bedrooms
  • 4 Bathrooms

Laundry

  • Laundry Room
  • Laundry in Garage

Additional Features

  • Suburban Location
  • Forced Air Heating and Cooling System

Listing and Financial Details

  • Tenant pays for cable TV, electricity, gas
  • Tax Lot 9
  • Tax Tract Number 6261
  • Assessor Parcel Number 13956132
  • $1,261 per year additional tax assessments

Community Details

Overview

  • No Home Owners Association
  • 2 Units

Building Details

  • 2 Leased Units
  • 2 Separate Electric Meters
  • 2 Separate Gas Meters
  • Gardener Expense $1,200
  • Insurance Expense $1,632
  • Pest Control $500
  • Professional Management Expense $3,960
  • Water Sewer Expense $1,200
  • Operating Expense $24,492
  • Gross Income $66,000
  • Net Operating Income $41,508

Property Details

Home Type

Multi-Family

Year Built

Built in 1970

Lot Details

0

Parking

3

Listing Details

  • Assessments: Yes
  • CapRate: 3.00
  • Price Per Unit: 674995
  • Professional Management Expense: 3960.00
  • Property Attached: No
  • View: No
  • Water Sewer Expenses: 1200.00
  • Property Condition: Turnkey
  • Property Sub Type: Duplex
  • Property Type: Residential Income
  • Gardener Expense: 1200.00
  • Parcel Number: 13956132
  • Year Built: 1970
  • Special Features: None

Interior Features

  • Fireplace: Yes
  • Interior Amenities: Open Floorplan
  • Stories: 1
  • Entry Location: 1
  • Common Walls: No Common Walls
  • Flooring: Laminate
  • Appliances: Yes
  • Entry Level: 1
  • Fireplace Features: Living Room
  • Levels: One
  • Price Per Square Foot: 504.71
  • Room Type: All Bedrooms Down, Living Room, Main Floor Primary Bedroom

Exterior Features

  • Foundation: Slab
  • Fence: Yes
  • Fencing: Wood
  • Pool Private: No
  • Roof: Flat
  • Spa: No
  • Construction Materials: Stucco

Garage/Parking

  • Garage Spaces: 3.00
  • Parking: Yes
  • Parking Features: Driveway, Garage
  • Total Parking Spaces: 3.00

Utilities

  • Heating: Yes
  • Laundry: Yes
  • Appliances: Dishwasher, Free-Standing Range
  • Heating Type: Forced Air
  • Laundry Features: In Garage
  • Pest Control Expense: 500.00
  • Sewer: Public Sewer
  • Water Source: Public
  • Cooling: Central Air
  • Cooling: Yes

Condo/Co-op/Association

  • Association: No
  • Senior Community: No
  • Community Features: Suburban

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: Back Yard, Front Yard
  • Lot Size Sq Ft: 6534.00
  • Lot Size Acres: 0.1500

Rental Info

  • Tenant Pays: Cable TV, Electricity, Gas

Multi Family

  • Average2 Bed Area: 1100 Square Feet
  • Average3 Bed Area: 1300 Square Feet
  • Gross Income: 66000.00
  • Gross Operating Income: 66000.00
  • Gross Scheduled Income: 66000.00
  • Insurance Expense: 1632.00
  • Lot Size Area: 6534.0000 Square Feet
  • Net Operating Income: 41508.00
  • Number Of Separate Electric Meters: 2
  • Number Of Separate Gas Meters: 2
  • Number Of Units Leased: 2
  • Number Of Units Total: 2
  • Operating Expense: 24492.00
  • Rent Control: No
  • Total Actual Rent: 5400.00
  • Total Expenses: 24492.00

Tax Info

  • Tax Census Tract: 638.06
  • Tax Lot: 9
  • Tax Tract Number: 6261
  • TaxOtherAnnualAssessmentAmount: 1261.00

Range of Values:

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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 Change Sq Ft Price
02/13/2024 02/13/24 Sold $1,211,312 -10.3% $505 / Sq Ft
12/29/2023 12/29/23 Price Changed $1,349,990 -90.0% $562 / Sq Ft
12/29/2023 12/29/23 Price Changed $13,499,900 +800.1% $5,625 / Sq Ft
12/28/2023 12/28/23 Pending -- -- --
11/21/2023 11/21/23 For Sale $1,499,900 -- $625 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: OC23214826

California Regional Multiple Listing Service (CRMLS)

APN: 139-561-32