NOT LISTED FOR SALE
9 Beds
8 Baths
4,613 Sq Ft
7,841 Sq Ft Lot

Last Sold March 16, 2021

Last sale price $1,700,000 $369 Per Sq Ft

Highlights

  • Traditional Architecture
  • No HOA
  • Laundry Room
  • California Elementary School Rated A
  • Cooling System Mounted To A Wall/Window
  • 4-minute walk to Smallwood Park

About This Home

As of March 2021

HURRY TO TAKE ADVANTAGE OF THIS GREAT AND EXTREMELY RARE OPPORTUNITY TO PURCHASE ONE OR TWO TURNKEY SIDE BY SIDE Costa Mesa's very desirable "Spice Street Tract." In a great rental area of Costa Mesa. You can purchase the subject property along with the court-yard adjacent 4-Plex at 1592 Caraway Drive. Extremely well located in Costa Mesa, only a few miles from the beach in the "Mesa Verde" area with easy access to the 405, 73, and 55 freeways. Very clean, beautiful, and wide concrete paved alley. Buildings are a very large 4-Plex (the largest standard model in the tract) with approximately 4,623 sq. ft. of living space with large bedrooms, living areas, and spacious closets. Newer Double-Pane Windows. The 3br unit is approx. 1,568'/2brs approx. 1,026'. Located on a 7,851 sq. ft. lot. 1 Double Garage. 3 Single Garage + 5 Parking Spaces. There is a central laundry room with a few washers and dryers owned and operated by an outside service company 50/50 split. The units are in good condition and some have good-sized yard and patios, No missed rents during Covid-19! The spacious yard and mature trees add to the charm and comfortable, quiet atmosphere. All expenses are estimated—Pro forma rent over $112,000.

Last Agent to Sell the Property

Jennifer Shamoo

Innovate Realty, Inc. License #01899250 Listed on: 02/10/2021

Co-Listed By

Jennifer Aguilar-Shamoo

Active Realty License #01368274

Last Buyer's Agent

Christine Morgan

Marterra Real Estate License #01839037

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1966

Lot Details

  • 7,841 Sq Ft Lot
  • Two or More Common Walls
  • Wrought Iron Fence
  • Wood Fence
  • Front Yard

Parking

  • 5 Car Garage
  • Parking Available
  • Driveway Level

Home Design

  • Traditional Architecture
  • Quadruplex
  • Turnkey
  • Slab Foundation
  • Shingle Roof
  • Stucco

Interior Spaces

  • 4,613 Sq Ft Home
  • 2-Story Property
  • Laundry Room

Flooring

  • Carpet
  • Tile

Bedrooms and Bathrooms

  • 9 Bedrooms
  • 8 Bathrooms

Outdoor Features

  • Rain Gutters

Utilities

  • Cooling System Mounted To A Wall/Window
  • Central Heating
  • Natural Gas Connected

Listing and Financial Details

  • Tenant pays for electricity, gas
  • Tax Lot 12
  • Tax Tract Number 6259
  • Assessor Parcel Number 13949227

Community Details

Overview

  • No Home Owners Association
  • 4 Units

Amenities

  • Laundry Facilities

Building Details

  • 4 Leased Units
  • 4 Separate Electric Meters
  • 4 Separate Gas Meters
  • 1 Separate Water Meter
  • Electric Expense $298
  • Fuel Expense $904
  • Gardener Expense $1,200
  • Insurance Expense $100
  • Maintenance Expense $3,370
  • Pest Control $364
  • Trash Expense $4,048
  • Water Sewer Expense $3,605
  • New Taxes Expense $17,153
  • Operating Expense $19,475
  • Gross Income $96,281
  • Net Operating Income $82,720

Property Details

Home Type

Multi-Family

Year Built

Built in 1966

Lot Details

0

Parking

5

Listing Details

  • Assessments: Yes
  • CapRate: 5.00
  • Property Attached: Yes
  • Water Sewer Expenses: 3605.00
  • Architectural Style: Traditional
  • Property Condition: Turnkey
  • Property Sub Type: Quadruplex
  • Property Type: Residential Income
  • Gardener Expense: 1200.00
  • Parcel Number: 13949227
  • Year Built: 1966
  • Special Features: None

Interior Features

  • Stories: 2
  • Common Walls: 2+ Common Walls
  • Flooring: Carpet, Tile
  • Levels: One
  • Price Per Square Foot: 368.52

Exterior Features

  • Foundation: Slab
  • Exterior Features: Rain Gutters
  • Fence: Yes
  • Fencing: Wood, Wrought Iron
  • Pool Private: No
  • Roof: Shingle
  • Spa: No
  • Construction Materials: Stucco

Garage/Parking

  • Garage Spaces: 5.00
  • Parking: Yes
  • Parking Features: Driveway Level, Garage
  • Total Parking Spaces: 5.00

Utilities

  • Utilities: Natural Gas Connected, Sewer Connected, Water Connected
  • Heating: Yes
  • Laundry: Yes
  • Heating Type: Central
  • Laundry Features: Community
  • Pest Control Expense: 364.00
  • Sewer: Public Sewer
  • Trash Expense: 4048.00
  • Water Source: Public
  • Cooling: Wall/Window Unit(s)
  • Cooling: Yes

Condo/Co-op/Association

  • Association: No
  • Senior Community: No
  • Community Features: Sidewalks

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: Front Yard
  • Lot Size Sq Ft: 7841.00
  • Lot Size Acres: 0.1800

Rental Info

  • Tenant Pays: Electricity, Gas

Multi Family

  • Electric Expense: 298.00
  • Fuel Expense: 904.00
  • Gross Income: 96281.00
  • Gross Operating Income: 96281.00
  • Gross Scheduled Income: 94740.00
  • Insurance Expense: 100.00
  • Laundry Income: 1541.00
  • Lot Size Area: 7841.0000 Square Feet
  • Maintenance Expense: 3370.00
  • Net Operating Income: 82720.00
  • Number Of Separate Electric Meters: 4
  • Number Of Separate Gas Meters: 4
  • Number Of Separate Water Meters: 1
  • Number Of Units Leased: 4
  • Number Of Units Total: 4
  • Number With Carpet: 4
  • Number With Dishwasher: 4
  • Number With Disposal: 4
  • Number With Range: 4
  • Operating Expense: 13561.00
  • Rent Control: No
  • Total Actual Rent: 7895.00
  • Total Expenses: 19475.00

Tax Info

  • New Taxes Expense: 17153.00
  • Tax Census Tract: 638.06
  • Tax Lot: 12
  • Tax Tract Number: 6259

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
03/16/2021 03/16/21 Sold $1,700,000 0.0% $369 / Sq Ft
02/24/2021 02/24/21 Price Changed $1,700,000 +0.3% $369 / Sq Ft
02/10/2021 02/10/21 For Sale $1,695,000 -- $367 / Sq Ft
02/04/2021 02/04/21 Pending -- -- --
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: OC21019537

California Regional Multiple Listing Service (CRMLS)

APN: 139-492-27