NOT LISTED FOR SALE
4 Beds
3 Baths
3,062 Sq Ft
9,951 Sq Ft Lot

Last Sold November 03, 2022

Last sale price $1,800,000 $588 Per Sq Ft

71 Days on Market

Highlights

  • No HOA
  • Laundry Room
  • Bike Trail
  • Heinz Kaiser Elementary School Rated A
  • Central Heating

About This Home

As of November 2022

We are pleased to present 185 Cecil Place, an added value triplex that is extremely well located in Costa Mesa's premier Eastside. The 2-Bedroom/1-Bathroom detached cottage, built-in 1945, at the rear of the property includes an attached 1-car garage and a massive backyard. Each of the units in the duplex comprises a 2-Bedroom/1.5-Bathroom townhouse-style unit built in 1975. Each of the units in the duplex has a single-car garage and an off-street space. The 9,951 sq. ft . lot provides tenants with ample space and a more residential feel. All necessary amenities are within walking distance, including grocery stores, coffee shops, restaurants, and bars. The property will provide a buyer with a massive upside in rents with capital improvements to the interiors and exterior of the units.

Last Agent to Sell the Property

Nick Gould

Morgan Skenderian License #01521955 Listed on: 07/18/2022

Last Buyer's Agent

Michael Mena

Real Broker License #01948813

Real Broker

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1945

Lot Details

  • 9,951 Sq Ft Lot
  • 1 Common Wall
  • Density is 2-5 Units/Acre

Parking

  • 3 Car Garage

Home Design

  • Property Attached

Interior Spaces

  • 3,062 Sq Ft Home
  • 2-Story Property

Bedrooms and Bathrooms

  • 4 Bedrooms
  • 3 Bathrooms

Laundry

  • Laundry Room
  • Washer and Gas Dryer Hookup

Additional Features

  • Rain Gutters
  • Central Heating

Listing and Financial Details

  • Tenant pays for electricity, gas
  • Tax Lot 17
  • Tax Tract Number 269
  • Assessor Parcel Number 42606210
  • $1,681 per year additional tax assessments

Community Details

Overview

  • No Home Owners Association
  • 2 Buildings
  • 3 Units

Recreation

  • Bike Trail

Building Details

  • Rent Control
  • 3 Separate Electric Meters
  • 3 Separate Gas Meters
  • 1 Separate Water Meter
  • Electric Expense $960
  • Insurance Expense $2,100
  • Maintenance Expense $5,124
  • Water Sewer Expense $960
  • New Taxes Expense $20,990
  • Operating Expense $32,315
  • Gross Income $73,200
  • Net Operating Income $38,689

Property Details

Home Type

Multi-Family

Year Built

Built in 1945

Lot Details

0

Parking

3

Listing Details

  • Property Attached: Yes
  • Subdivision Name Other: Eastside
  • Water Sewer Expenses: 960.00
  • Zoning: R2-MD
  • Property Type: Residential Income
  • Parcel Number: 42606210
  • Year Built: 1945
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Fireplace: No
  • Stories: 2
  • Common Walls: 1 Common Wall
  • Levels: Two
  • Price Per Square Foot: 587.85

Exterior Features

  • Pool Private: No

Garage/Parking

  • Garage Spaces: 3.00
  • Total Parking Spaces: 3.00

Utilities

  • Heating: Yes
  • Laundry: Yes
  • Heating Type: Central
  • Laundry Features: Gas & Electric Dryer Hookup, Washer Hookup
  • Sewer: Public Sewer
  • Water Source: Public

Condo/Co-op/Association

  • Association: No
  • Senior Community: No
  • Community Features: Biking, Curbs, Gutters

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: 2-5 Units/Acre
  • Lot Size Sq Ft: 9951.00
  • Lot Size Acres: 0.2284

Rental Info

  • Tenant Pays: Electricity, Gas

Multi Family

  • Electric Expense: 960.00
  • Gross Income: 73200.00
  • Gross Operating Income: 71004.00
  • Gross Scheduled Income: 73200.00
  • Insurance Expense: 2100.00
  • Lot Size Area: 9951.0000 Square Feet
  • Maintenance Expense: 5124.00
  • Maintenance Percent: 7.00
  • Net Operating Income: 38689.00
  • Number Of Separate Electric Meters: 3
  • Number Of Separate Gas Meters: 3
  • Number Of Separate Water Meters: 1
  • Number Of Units Total: 3
  • Operating Expense: 32315.00
  • Operating Expense Percent: 44.10
  • Rent Control: Yes
  • Total Expenses: 32315.00
  • Vacancy Allowance Rate: 3.00

Tax Info

  • New Taxes Expense: 20990.00
  • Tax Census Tract: 632.01
  • Tax Lot: 17
  • Tax Tract Number: 269
  • TaxOtherAnnualAssessmentAmount: 1681.00
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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
11/03/2022 11/03/22 Sold $1,800,000 -9.8% $588 / Sq Ft
09/27/2022 09/27/22 Pending -- -- --
07/18/2022 07/18/22 For Sale $1,995,000 -- $652 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

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 $21,175 $1,846,448 $1,606,007 $240,441
2024 $21,175 $1,800,000 $1,574,516 $225,484
2023 $20,917 $1,800,000 $1,574,516 $225,484
2022 $7,181 $506,436 $280,952 $225,484
2021 $6,905 $496,506 $275,443 $221,063
2020 $6,797 $491,415 $272,618 $218,797
2019 $6,641 $481,780 $267,273 $214,507
2018 $6,504 $472,334 $262,033 $210,301
2017 $6,406 $463,073 $256,895 $206,178
2016 $6,284 $453,994 $251,858 $202,136
2015 $6,226 $447,175 $248,075 $199,100
2014 $6,098 $438,416 $243,216 $195,200
Source: Public Records

Agents Affiliated with this Home

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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: PW22158131

California Regional Multiple Listing Service (CRMLS)

APN: 426-062-10