NOT LISTED FOR SALE

187 E 18th St Costa Mesa, CA 92627

Downtown Costa Mesa Neighborhood
-- Bed
-- Bath
26,134 Sq Ft
0.85 Acres

Last Sold June 23, 2022

Last sale price $16,685,000 $638 Per Sq Ft

47 Days on Market

Highlights

  • Gated Parking
  • 0.85 Acre Lot
  • Ceiling Fan
  • Heinz Kaiser Elementary School Rated A
  • Balcony
  • 3 Car Garage

About This Home

As of June 2022

Bring Offers!! SIGNIFICANT PRICE REDUCTION ! The subject property is a very attractive pride of ownership complex located in the prime Eastside of Costa Mesa. This is a very unique corner location just off Newport Blvd. , in a beautiful residential area adjacent to million dollar plus homes. Walking distance to 17th street shops, cafes, boutiques, and located near the Triangle and Westcliff shopping and entertainment centers. Just a short distance to Newport Beach, Back Bay, Balboa Peninsula, Newport Heights, and Orange Coast College. First time on the market in 23 years. Built in 1986 and not subject to rent control, only AB 1482. Ideal unit mix of sixteen 1+1 (please note unit # 106 1 +1 is a non conforming unit) , three 2+1, four 2+2.5, one 3+2, and seven 3+2.5( with in unit washer/dryers). Each unit is good size and have many amenities including balconies, quartz/granite counter tops, vinyl wood like plank flooring(some units), stainless steel appliances(some units), dishwashers(some units) ,gated parking, a beautiful open courtyard, and much more. Most of the units have been upgraded or remodeled. Laundry on site. 100% occupied. Excellent and immediate upside in rents. Ideal exchange property.

Last Agent to Sell the Property

Karl Duistermars

Karl Duistermars License #00584074 Listed on: 02/20/2022

Last Buyer's Agent

David Oronoz

Skyline Commercial Real Estate License #01838862

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1986

Lot Details

  • 0.85 Acre Lot
  • North Facing Home

Parking

  • 3 Car Garage
  • 4 Open Parking Spaces
  • Gated Parking

Interior Spaces

  • 26,134 Sq Ft Home
  • 2-Story Property
  • Ceiling Fan

Kitchen

  • Oven or Range
  • Microwave
  • Dishwasher
  • Disposal

Outdoor Features

  • Balcony

Utilities

  • Heating System Mounted To A Wall or Window
  • Property is located within a water district
  • Central Water Heater
  • Sewer in Street

Listing and Financial Details

  • Tenant pays for electricity, gas, water
  • Assessor Parcel Number 425-415-24

Community Details

Overview

  • 3 Buildings
  • 31 Units
  • Low-Rise Condominium

Additional Features

  • Laundry Facilities
  • Rent Control

Property Details

Home Type

Multi-Family

Year Built

Built in 1986

Lot Details

0

Parking

3

Listing Details

  • Property Type: Residential Income
  • Style: Low Rise
  • Street Number Display: Yes
  • Alley: No
  • Living Area: 26134
  • Lot Acreage: 0.8464
  • Price Per Unit: 554838.00
  • Probate: No
  • Stories: 2
  • Year Built: 1986
  • State Abbrv: CA
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Common Walls: Attached
  • Laundry: Community
  • Equipment: Ceiling Fan, Microwave, Dishwasher, Garbage Disposal, Range/Oven
  • Price Per S Q F T: 658.15

Exterior Features

  • Direction Faces: North
  • Other Features: Balcony
  • Other Structures: Other
  • Tennis Court Y/N: No
  • Pool: No
  • Spa Yn: No

Garage/Parking

  • Garage Spaces: 3
  • Other Spaces: 4
  • Covered Parking: 50
  • Parking Garage: Gated, Garage
  • Total Parking: 54

Utilities

  • Water Heater: Central Water Heater
  • Heating: Wall
  • Sewer: In Street
  • Water: District
  • Water Heaters: Yes

Lot Info

  • Assessed Improvement Percent: 48.93
  • Assessed Improvement Value: 2205889
  • Assessed Land Percent: 51.07
  • Assessed Land Value: 2302425
  • Total Assessed Value: 4508314
  • Assessor Parcel Number: 425-415-24
  • Lot Size Area: 36869

Rental Info

  • Rent Control: Yes
  • Tenant Pays: Electricity, Gas, Water

Multi Family

  • Unit Type: 2106, 2107, 2108, 2109, 2110
  • Gross Rent Multiplier: 19.40
  • Number Of Units: 31
  • Type Of Units: Apartments

Range of Values:

--
Value Increase
--
Percent Increase
--
Adjusted for Inflation
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Average Value
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List Price
Sold Price
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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
06/23/2022 06/23/22 Sold $16,685,000 -3.0% $638 / Sq Ft
04/08/2022 04/08/22 Pending -- -- --
03/21/2022 03/21/22 Price Changed $17,200,000 -8.0% $658 / Sq Ft
02/20/2022 02/20/22 For Sale $18,690,000 -- $715 / Sq Ft
Source: The MLS

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • K

    Seller's Agent in 2022

    Karl Duistermars

    Karl Duistermars

    (818) 957-6511

    1 in this area

    4 Total Sales

    Karl Duistermars
    Section Image
  • David Oronoz

    Buyer's Agent in 2022

    David Oronoz

    Skyline Commercial Real Estate

    (949) 688-6530

    1 in this area

    6 Total Sales

    David Oronoz
    Section Image
See All Agents

Map

Source: The MLS

MLS Number: 22-129571

The MLS

APN: 425-415-24

California Orange County Costa Mesa 92627 Downtown Costa Mesa

187 E 18th St, Costa Mesa, CA

Not Listed for Sale

MultiFamily

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