178 E 18th St Costa Mesa, CA 92627
Downtown Costa Mesa Neighborhood
8
Beds
4
Baths
3,384
Sq Ft
7,405
Sq Ft Lot
Highlights
- Property is near public transit
- No HOA
- Laundry Room
- Heinz Kaiser Elementary School Rated A
- Built-In Features
- Tile Flooring
About This Home
As of March 2020This is the first time this property has ever been offered for sale by the Original ownership/developer family. Well located, value-add opportunity of four units in the very desirable Eastside Costa mesa apartment submarket. There are (4) approximately 850 Sq. Ft. 2-bed, 1-bath units. The owner keeps one unit for their personal use. This unit interior has crown molding, raised panel doors, two tone paint, upgraded door casing, newer baseboards, newer custom kitchen cabinets, recessed lighting, scraped ceilings, dishwasher and custom tiled shower/tub enclosure.
There are nice floor to ceilings built-ins in the living rooms of all units. one unit has wide plank flooring throughout, while others have a combination of vinyl, simulated hardwood, and carpet. Bathrooms have vinyl or tile flooring. Each unit has an eating nook and all interior are light and bright. There is a great opportunity privatize and activate the lower front units' front yards by hedging and gating the space to allow residents the privacy and extra living area which can be utilized year round. The building is located walking distance to the 17th Street retail corridor. Income shown is market. See proforma.
7-page Marketing Flyer and Rental Statement.
Last Agent to Sell the Property
Steven Brombal
Kidder Mathews of California, Inc License #00972129 Listed on: 12/02/2019
Co-Listed By
Joshua Rhee
Kidder Mathews of California, Inc License #01914094
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $21,375
Year Built
- Built in 1965 | Remodeled
Lot Details
- 7,405 Sq Ft Lot
- Property fronts an alley
- 1 Common Wall
- Level Lot
Parking
- 4 Car Garage
- 4 Open Parking Spaces
- Parking Available
- Rear-Facing Garage
Home Design
- Property Attached
- Cosmetic Repairs Needed
- Frame Construction
- Composition Roof
- Stucco
Interior Spaces
- 3,384 Sq Ft Home
- 2-Story Property
- Built-In Features
- Laundry Room
Flooring
- Laminate
- Tile
- Vinyl
Bedrooms and Bathrooms
- 8 Bedrooms
- 4 Bathrooms
Location
- Property is near public transit
- Suburban Location
Utilities
- Wall Furnace
- Natural Gas Connected
Listing and Financial Details
- Tenant pays for cable TV, electricity, gas
- Tax Lot 132
- Tax Tract Number 516
- Assessor Parcel Number 42523106
Community Details
Overview
- No Home Owners Association
- 2 Buildings
- 4 Units
Amenities
- Laundry Facilities
Building Details
- Rent Control
- 5 Separate Electric Meters
- 5 Separate Gas Meters
- 1 Separate Water Meter
- New Taxes Expense $17,867
- Operating Expense $29,785
- Gross Income $7,980
- Net Operating Income $66,222
Ownership History
Date
Name
Owned For
Owner Type
Purchase Details
Closed on
Aug 8, 2020
Sold by
Humphries Sage M and Humphries Alene T
Bought by
178 E 18Th Llc
Current Estimated Value
Purchase Details
Listed on
Dec 2, 2019
Closed on
Jan 13, 2020
Sold by
Hughes Michael Dean
Bought by
Humphries Sage M and Humphries Alene T
Seller's Agent
Steven Brombal
Kidder Mathews of California, Inc
Buyer's Agent
Tim Carr
Tim Carr Group
List Price
$1,699,500
Sold Price
$1,629,400
Premium/Discount to List
-$70,100
-4.12%
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
8.54%
Original Mortgage
$1,059,110
Interest Rate
3.6%
Mortgage Type
New Conventional
Purchase Details
Closed on
Aug 14, 2012
Sold by
Hughes David F and Hughes Taja E
Bought by
Hughes David F and Hughes Taja E
Purchase Details
Closed on
Jun 14, 2007
Sold by
Hughes Micheal Dean
Bought by
Hughes Michael Dean
Similar Homes in Costa Mesa, CA
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
Purchase History
| Date | Type | Sale Price | Title Company |
|---|---|---|---|
| Grant Deed | -- | None Available | |
| Grant Deed | $1,629,500 | First American Title Company | |
| Interfamily Deed Transfer | -- | None Available | |
| Interfamily Deed Transfer | -- | None Available | |
| Interfamily Deed Transfer | -- | None Available |
Source: Public Records
Mortgage History
| Date | Status | Loan Amount | Loan Type |
|---|---|---|---|
| Previous Owner | $1,059,110 | New Conventional |
Source: Public Records
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 10/26/2020 10/26/20 | Rented | $2,450 | 0.0% | -- |
| 10/12/2020 10/12/20 | For Rent | $2,450 | 0.0% | -- |
| 03/10/2020 03/10/20 | Sold | $1,629,400 | -4.1% | $482 / Sq Ft |
| 12/24/2019 12/24/19 | Pending | -- | -- | -- |
| 12/02/2019 12/02/19 | For Sale | $1,699,500 | -- | $502 / Sq Ft |
Source: California Regional Multiple Listing Service (CRMLS)
Tax History Compared to Growth
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 | $21,375 | $1,781,984 | $1,661,686 | $120,298 |
| 2024 | $21,375 | $1,747,044 | $1,629,104 | $117,940 |
| 2023 | $20,692 | $1,712,789 | $1,597,161 | $115,628 |
| 2022 | $20,127 | $1,679,205 | $1,565,844 | $113,361 |
| 2021 | $19,548 | $1,646,280 | $1,535,141 | $111,139 |
| 2020 | $6,304 | $394,632 | $299,728 | $94,904 |
| 2019 | $6,153 | $386,895 | $293,851 | $93,044 |
| 2018 | $6,025 | $379,309 | $288,089 | $91,220 |
| 2017 | $5,943 | $371,872 | $282,440 | $89,432 |
| 2016 | $5,838 | $364,581 | $276,902 | $87,679 |
| 2015 | $5,784 | $359,105 | $272,743 | $86,362 |
| 2014 | $5,673 | $352,071 | $267,400 | $84,671 |
Source: Public Records
Agents Affiliated with this Home
-
Tim Carr
Seller's Agent in 2020
Tim Carr
Tim Carr Group
(949) 230-8454
11 in this area
152 Total Sales
-
S
Seller's Agent in 2020
Steven Brombal
Kidder Mathews of California, Inc
-
J
Seller Co-Listing Agent in 2020
Joshua Rhee
Kidder Mathews of California, Inc
Map
Source: California Regional Multiple Listing Service (CRMLS)
MLS Number: OC19275149
APN: 425-231-06
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