Seller's Agent in 2024
Tyler Leeson
Marcus & Millichap RE Invest
(949) 419-3200
1 in this area
142 Total Sales
1762 Kenwood Place Costa Mesa, CA 92627
Downtown Costa Mesa Neighborhood
3
Beds
3
Baths
6,771
Sq Ft
0.48
Acres
Highlights
- 0.48 Acre Lot
- No HOA
- Level Lot
- Horace Ensign Intermediate School Rated A
- Laundry Room
- 4-minute walk to Lions Park
About This Home
As of June 2024Kenwood Place Apartments is an 8-unit multifamily investment property located in Costa Mesa, California. Built in 1961, the single-story property offers a mix of 6, one-bedroom units and 2, two-bedroom units. Amenities at Kenwood Place Apartments include ample carport and surface parking, in-unit laundry hookups, private patios, and an on-site laundry facility. Current ownership has invested significant capital into interior and exterior improvements with desirable upgrades including fresh paint, vinyl flooring, quartz countertops, stainless steel appliances, shaker-style cabinetry, and more. The property benefits from its unparalleled Costa Mesa location, in close proximity of parks as well as schools belonging to the highly rated Newport-Mesa Unified School District. Residents at Kenwood Place Apartments enjoy convenient access to an abundance of everyday needs as well as dining and entertainment options at Triangle Square and Costa Mesa Courtyards. Additionally, the property is just 0.30 miles 17th Street a 1.25-mile retail corridor that features a plethora of grocers, retailers restaurants, and bars. Furthermore, Kenwood Place Apartments is just over 1.30 miles from the Balboa Peninsula, home to some of Newport’s most famous retail, dining, and recreation hotspots. The property benefits from it’s close proximity to State Route 55 & Pacific Coast Highway, connecting residents to employment hubs throughout Southern California. The Costa Mesa submarket is among the strongest performing areas in metro Orange County, with an average occupancy of 96.5 percent (Q4 2023) and average year-over-year effective rent growth of 8.9 percent (between 2021 to 2023), demonstrating the strong demand for rental housing. Costa Mesa’s coastal location, strong economic growth, and unmatched local attractions have made it one of Southern California’s most desirable and versatile markets. Given the Coastal Orange County location, the property offers an investor the ability to capture quality tenants seeking a convenient location with access to a wide variety of area amenities. This overall demand for well-located apartments will be a key driver in the continued growth at Kenwood Place Apartments.
Last Agent to Sell the Property
Marcus & Millichap RE Invest Brokerage Phone: 714-713-9086 License #01451551 Listed on: 05/13/2024
Last Buyer's Agent
Marcus & Millichap RE Invest Brokerage Phone: 714-713-9086 License #01451551 Listed on: 05/13/2024
Property Details
Home Type
- Apartment
Year Built
- Built in 1961
Lot Details
- 0.48 Acre Lot
- No Common Walls
- Level Lot
Interior Spaces
- 6,771 Sq Ft Home
- 1-Story Property
- Laundry Room
Bedrooms and Bathrooms
- 3 Bedrooms
- 3 Bathrooms
Parking
- 8 Open Parking Spaces
- 16 Parking Spaces
- 8 Carport Spaces
Outdoor Features
- Rain Gutters
Listing and Financial Details
- Tax Lot 43
- Tax Tract Number 2584
- Assessor Parcel Number 42426311
- $5,499 per year additional tax assessments
Community Details
Overview
- No Home Owners Association
- 8 Units
- Westside Costa Mesa South Subdivision
Amenities
- Laundry Facilities
Building Details
- 8 Separate Electric Meters
- 8 Separate Gas Meters
- 1 Separate Water Meter
- Electric Expense $725
- Fuel Expense $725
- Insurance Expense $6,000
- Maintenance Expense $5,600
- Other Expense $20,601
- Trash Expense $725
- Water Sewer Expense $727
- New Taxes Expense $36,953
- Operating Expense $69,154
- Gross Income $230,785
- Net Operating Income $154,733
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
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 06/07/2024 06/07/24 | Sold | $3,450,000 | -2.1% | $510 / Sq Ft |
| 05/17/2024 05/17/24 | Pending | -- | -- | -- |
| 05/13/2024 05/13/24 | For Sale | $3,525,000 | +41.9% | $521 / Sq Ft |
| 06/03/2019 06/03/19 | Sold | $2,485,000 | -0.6% | $367 / Sq Ft |
| 05/02/2019 05/02/19 | Pending | -- | -- | -- |
| 04/30/2019 04/30/19 | For Sale | $2,500,000 | -- | $369 / Sq Ft |
Source: California Regional Multiple Listing Service (CRMLS)
Tax History Compared to Growth
Agents Affiliated with this Home
-
-
Seller's Agent in 2019
Martha Karelius
@Vantage Real Estate
(949) 378-7654
6 Total Sales
-
K
Buyer's Agent in 2019
Kurt Hediger
Marcus & Millichap RE Invest
Map
Source: California Regional Multiple Listing Service (CRMLS)
MLS Number: OC24096634
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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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