Mariann Cordova
Coldwell Banker Realty
(949) 518-3579
12 Total Sales
1 in Westside Costa Mesa
$938,000 Price
1975 Wallace Ave Costa Mesa, CA 92627
Westside Costa Mesa Neighborhood
10
Beds
6
Baths
4,150
Sq Ft
0.33
Acre Lot
Highlights
- No Units Above
- 0.33 Acre Lot
- Bungalow
- All Bedrooms Downstairs
- No HOA
- 1 Car Garage
About This Home
As of November 20151975 Wallace Avenue is a great 6 unit investment opportunity. All units are single story. Two units are stand alone buildings with private patio areas. Rear units share a private yard area. Four units have separate electric and gas meters with tenants paying those expenses. Units E & F share utility meters and expense is paid by owner. All units are occupied with long standing tenants. Units have individual outside laundry areas. Currently, the 1 car garage is not assigned to any unit. All rental/lease agreements are on a month to month basis. Lot has frontage on Wallace and Palace. Costa Mesa zoning map shows the property is zoned R2-HD and the city shows the property lies in the Mesa West Residential Ownership Urban Plan which allows an owner to rebuild the existing number of units even if the minimum lot size cannot be met under the current Residential Development Standards. Buyer to verify with city. This would provide a potential redevelopment opportunity while an owner enjoys the current income stream. Income shown in Analysis section is based on current actual. Proforma annual income is $93,600 resulting in net operating income of $64,982. Unit F rent is low & is leased to a very long standing tenant. Proforma rent for unit F includes garage.
Last Agent to Sell the Property
SR White and Associates License #01925218 Listed on: 08/30/2015
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
Property Details
Home Type
- Multi-Family
Year Built
- Built in 1961
Lot Details
- 14,375 Sq Ft Lot
- No Units Above
- No Units Located Below
- Two or More Common Walls
- Wood Fence
- Block Wall Fence
- Rectangular Lot
- Level Lot
Parking
- 1 Car Garage
- Parking Available
- Driveway
- Uncovered Parking
- Unassigned Parking
Home Design
- 4,150 Sq Ft Home
- Bungalow
- Property Attached
- Raised Foundation
- Composition Roof
- Asphalt Roof
- Stucco
Flooring
- Carpet
- Vinyl
Bedrooms and Bathrooms
- 10 Bedrooms
- All Bedrooms Down
- 6 Bathrooms
Home Security
- Carbon Monoxide Detectors
- Fire and Smoke Detector
Additional Features
- Gas Range
- Laundry Located Outside
- Suburban Location
- Wall Furnace
Listing and Financial Details
- Tenant pays for electricity, gas
- Tax Lot 7
- Tax Tract Number 612
- Assessor Parcel Number 42227107
Community Details
Overview
- No Home Owners Association
- 4 Buildings
- 6 Units
Amenities
- Laundry Facilities
Building Details
- 6 Leased Units
- 4 Separate Electric Meters
- 4 Separate Gas Meters
- 1 Separate Water Meter
- Electric Expense $1,212
- Gardener Expense $110
- Insurance Expense $1,500
- Maintenance Expense $3,000
- Water Sewer Expense $2,778
- New Taxes Expense $17,980
- Gross Income $6,835
- Net Operating Income $71,382
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
Listed on
Aug 30, 2015
Closed on
Oct 6, 2015
Sold by
Bought by
Seller's Agent
Steve White
SR White and Associates
Buyer's Agent
Lily Labash
Barnes Realty Group
List Price
$1,475,000
Sold Price
$1,475,000
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$700,000
Interest Rate
3.8%
Mortgage Type
Commercial
Purchase Details
Closed on
Jun 3, 1999
Sold by
Bought by
Purchase Details
Closed on
Mar 28, 1999
Sold by
Bought by
Purchase Details
Closed on
Oct 20, 1993
Sold by
Bought by
Home Values in the Area
Average Home Value in this Area
Agents Specializing in Westside Costa Mesa, CA
-
Mariann Cordova
-
Drew D'Angelo
Drew D'Angelo
Kase Real Estate
(949) 867-6319
75 Total Sales
1 in Westside Costa Mesa
$1,775,428 Price
-
Angela Xiao
Angela Xiao
Keller Williams Realty
(626) 254-6200
53 Total Sales
1 in Westside Costa Mesa
$1,025,000 Price
-
Colin Farris
Colin Farris
Keller Williams OC Coastal Realty
(949) 541-0527
41 Total Sales
1 in Westside Costa Mesa
$810,000 Price
-
Selene Hanna
Selene Hanna
Alt Financial Network Inc
(657) 300-4351
43 Total Sales
2 in Westside Costa Mesa
$865,000 Price Range
-
Paul Daftarian
Paul Daftarian
Luxe Real Estate
(657) 385-8384
246 Total Sales
2 in Westside Costa Mesa
$1,131,000 Price Range
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 |
|---|---|---|---|
| $1,475,000 | Bnt Title Company Of Ca | ||
| $355,000 | American Title Insurance 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 |
|---|---|---|---|
| Open | $2,280,000 | ||
| Closed | $700,000 | ||
| Closed | $700,000 |
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 |
|---|---|---|---|---|
| 11/16/2015 11/16/15 | Sold | $1,475,000 | 0.0% | $355 / Sq Ft |
| 09/10/2015 09/10/15 | Pending | -- | -- | -- |
| 08/30/2015 08/30/15 | For Sale | $1,475,000 | -- | $355 / Sq Ft |
Source: California Regional Multiple Listing Service (CRMLS)
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 | $22,884 | $1,781,018 | $1,448,966 | $332,052 |
| 2025 | $22,884 | $1,746,097 | $1,420,555 | $325,542 |
| 2024 | $22,294 | $1,711,860 | $1,392,701 | $319,159 |
| 2023 | $21,491 | $1,678,295 | $1,365,394 | $312,901 |
| 2022 | $20,783 | $1,645,388 | $1,338,622 | $306,766 |
| 2021 | $20,081 | $1,613,126 | $1,312,375 | $300,751 |
| 2020 | $19,803 | $1,596,586 | $1,298,918 | $297,668 |
| 2019 | $19,355 | $1,565,281 | $1,273,449 | $291,832 |
| 2018 | $18,958 | $1,534,590 | $1,248,480 | $286,110 |
| 2017 | $18,655 | $1,504,500 | $1,224,000 | $280,500 |
| 2016 | $18,007 | $1,475,000 | $1,200,000 | $275,000 |
| 2015 | $7,390 | $463,064 | $335,867 | $127,197 |
| 2014 | $7,246 | $453,994 | $329,288 | $124,706 |
Source: Public Records
Agents Affiliated with this Home
-
Steve White
Seller's Agent in 2015
Steve White
SR White and Associates
(714) 974-4900
10 Total Sales
-
Lily Labash
Buyer's Agent in 2015
Lily Labash
Barnes Realty Group
(949) 307-8527
1 in this area
3 Total Sales
Map
Source: California Regional Multiple Listing Service (CRMLS)
MLS Number: PW15196462
Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.
The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable copyright laws. Information provided is for viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and CRMLS and its affiliates do not warrant or guarantee such accuracy. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional.
Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information
Nearby Homes
- 758 W 20th St
- 730 Lynn Ct
- 1925 Wallace Ave
- 783 Wonder Ln
- 756 W 19th St Unit B
- 809 Brickyard Ln
- 726 Weelo Dr
- 2107 Pomona Ave
- 753 Scott Place
- 2113 Federal Ave
- 681 Victoria St
- 741 W 18th St
- 735 W 18th St
- 1845 Monrovia Ave Unit 68
- 1845 Monrovia Ave Unit 76
- 939 W 19th St
- 2171 Pomona Ave
- 1940 Maple Ave Unit 111
- 549 Bernard St
- 810 Congress St
- 1971 Wallace Ave
- 1965 Wallace Ave
- 742 Lynn Ct
- 1966 Wallace Ave
- 1988 Wallace Ave
- 1992 Wallace Ave
- 738 Lynn Ct
- 1955 Wallace Ave
- 743 W 20th St
- 1996 Wallace Ave
- 1970 Wallace Ave
- 1980 Wallace Ave
- 2028 Wallace Ave Unit A
- 734 Lynn Ct
- 1984 Wallace Ave
- 758 W 20th St Unit B105
- 758 W 20th St Unit D
- 758 W 20th St Unit C
- 735 W 20th St
- 1945 Wallace Ave
Your Personal Tour Guide
Ask me questions while you tour the home.