NOT LISTED FOR SALE
20 Beds
3 Baths
8,254 Sq Ft
1.1 Acre Lot

Sale Details

Date Sold: June 7, 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

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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

1.1 Acres

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

Ownership History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Name Owned For Owner Type

Purchase Details

Closed on
Oct 3, 2023
Sold by
Bought by

Purchase Details

Listed on
Apr 19, 2022
Closed on
Jun 3, 2022
Sold by
Bought by
Seller's Agent
Mike O’Neill
CB Richard Ellis, Inc.
Buyer's Agent
Daniel Blackwell
CB Richard Ellis, Inc.
List Price
$4,600,000
Sold Price
$4,500,000
Premium/Discount to List
-$100,000
-2.17%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$2,500,000
Interest Rate
5.1%
Mortgage Type
New Conventional

Purchase Details

Listed on
Apr 19, 2022
Closed on
May 25, 2022
Sold by
Bought by
Seller's Agent
Mike O’Neill
CB Richard Ellis, Inc.
Buyer's Agent
Daniel Blackwell
CB Richard Ellis, Inc.
List Price
$4,600,000
Sold Price
$4,500,000
Premium/Discount to List
-$100,000
-2.17%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$2,500,000
Interest Rate
5.1%
Mortgage Type
New Conventional

Purchase Details

Closed on
Mar 11, 2016
Sold by
Bought by

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$1,200,000
Interest Rate
3.79%
Mortgage Type
Commercial

Purchase Details

Closed on
Jan 28, 2016
Sold by
Bought by

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$1,200,000
Interest Rate
3.79%
Mortgage Type
Commercial

Purchase Details

Closed on
Jan 12, 1995
Sold by
Bought by
Source: Public Records

Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

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Purchase History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Buyer Sale Price Title Company
-- None Listed On Document
$2,000,000 Chicago Title
-- None Listed On Document
-- None Listed On Document
$2,365,000 Wfg National Title Company
-- Gateway Title Co
Source: Public Records

Mortgage History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Status Borrower Loan Amount
Previous Owner $2,500,000
Previous Owner $2,500,000
Previous Owner $1,925,000
Previous Owner $1,200,000
Source: Public Records

Property History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

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

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

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
2026 $56,539 $5,017,298 $4,328,168 $689,130
2025 $56,539 $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

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Map

Source: The MLS

MLS Number: 22-147913

The MLS
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