NOT LISTED FOR SALE

1940 Wallace Ave Costa Mesa, CA 92627

Westside Costa Mesa Neighborhood
20 Beds
3 Baths
8,254 Sq Ft
1.1 Acres

Last Sold June 07, 2022

Last sale price $4,500,000 $545 Per Sq Ft

10 Days on Market

About This Home

As of June 2022

The apartment townhomes at 1940 Wallace Avenue is located in an Opportunity Zone in the highly desirable city of Costa Mesa. Situated on a large 18,423 SF lot, the property consists of all two-bedroom units with 90% of the units townhome style floor plans.

Last Agent to Sell the Property

Mike O’Neill

CB Richard Ellis, Inc. License #02036937 Listed on: 04/19/2022

Last Buyer's Agent

Daniel Blackwell

CB Richard Ellis, Inc. License #01854961

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1977

Lot Details

  • 1.1 Acre Lot

Interior Spaces

  • 8,254 Sq Ft Home
  • 2-Story Property

Bedrooms and Bathrooms

  • 20 Bedrooms
  • 3 Bathrooms

Parking

  • 9 Open Parking Spaces
  • 19 Parking Spaces
  • Carport

Community Details

  • 10 Units

Listing and Financial Details

  • Assessor Parcel Number 422-262-14

Property Details

Home Type

Multi-Family

Year Built

Built in 1977

Lot Details

0

Listing Details

  • Property Type: Residential Income
  • Living Area: 8254
  • Lot Acreage: 1.1000
  • Stories: 2
  • Year Built: 1977
  • State Abbrv: CA
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Bedrooms: 20
  • Total Bathrooms: 3.00
  • Price Per S Q F T: 557.31

Exterior Features

  • Other Structures: None

Garage/Parking

  • Other Spaces: 9
  • Covered Parking: 10
  • Parking Garage: Carport, Uncovered
  • Total Parking: 19

Lot Info

  • Assessed Improvement Percent: 28.12
  • Assessed Improvement Value: 727274
  • Assessed Land Percent: 71.88
  • Assessed Land Value: 1859198
  • Total Assessed Value: 2586472
  • Assessor Parcel Number: 422-262-14
  • Lot Size Area: 18423

Multi Family

  • Unit Type: 2106, 2107
  • Gross Rent Multiplier: 17.27
  • Number Of Units: 10
  • Type Of Units: Apartments

Range of Values:

--
Value Increase
--
Percent Increase
--
Adjusted for Inflation
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Average Value
Not Available
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
06/07/2022 06/07/22 Sold $4,500,000 -2.2% $545 / Sq Ft
04/29/2022 04/29/22 Pending -- -- --
04/19/2022 04/19/22 For Sale $4,600,000 -- $557 / Sq Ft
Source: The MLS

Tax History Compared to Growth

Source: Public Records

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 $53,995 $4,918,920 $4,243,302 $675,618
2024 $53,995 $4,681,800 $4,160,100 $521,700
2023 $52,296 $4,590,000 $4,078,529 $511,471
2022 $31,308 $2,638,201 $1,896,382 $741,819
2021 $30,262 $2,586,472 $1,859,198 $727,274
2020 $29,974 $2,559,951 $1,840,134 $719,817
2019 $29,407 $2,509,756 $1,804,053 $705,703
2018 $28,847 $2,460,546 $1,768,680 $691,866
2017 $28,351 $2,412,300 $1,734,000 $678,300
2016 $15,033 $1,154,494 $554,378 $600,116
2015 $14,867 $1,137,153 $546,051 $591,102
2014 $14,519 $1,114,878 $535,354 $579,524
Source: Public Records

Agents Affiliated with this Home

  • Mike O’Neill

    Seller's Agent in 2022

    Mike O’Neill

    CB Richard Ellis, Inc.

    (949) 725-8500

    2 in this area

    54 Total Sales

    Mike O’Neill
    Section Image
  • Daniel Blackwell

    Buyer's Agent in 2022

    Daniel Blackwell

    CB Richard Ellis, Inc.

    (949) 423-6111

    2 in this area

    51 Total Sales

    Daniel Blackwell
    Section Image
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Map

Source: The MLS

MLS Number: 22-147913

The MLS
California Orange County Costa Mesa 92627 Westside Costa Mesa

1940 Wallace Ave, Costa Mesa, CA

Not Listed for Sale

MultiFamily

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