NOT LISTED FOR SALE
7 Beds
6 Baths
3,384 Sq Ft
10,454 Sq Ft Lot

Last Sold November 06, 2017

Last sale price $1,295,000 $383 Per Sq Ft

11 Days on Market

Highlights

  • No HOA
  • Central Air
  • Front Yard
  • Laundry Room

About This Home

As of November 2017

Excellent income property located in sort after area in Costa Mesa close to shops, beaches,schools on a nice street with new construction. Solid income from long term tenants makes this property easy to manage. Some rents under market with upside potential to raise rents.
Front house build in 1952 features 3 bedrooms, 2 bathrooms, living room, family/ dining room with fireplace, kitchen, laundry, large front yard, private back yard, small garage. Other building behind circa approx 1970s feature 2 townhomes each have 2 bedrooms, 1.5 bathrooms, large rooftop decks, garage, laundry rooms. No common living walls. Both townhomes have been renovated. Large lot has plenty of offstreet parking up to 6-8 cars. Up and coming neighborhood with new construction, much sort after location with upside appreciation both in property values and rent income. Pro forma income would be $84,000/year.

Last Agent to Sell the Property

Carmela Phillips

Villa Real Estate License #01032860 Listed on: 09/14/2017

Last Buyer's Agent

Daniel Krause

Century 21 Discovery License #02005285

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1952

Lot Details

  • 10,454 Sq Ft Lot
  • Lot Dimensions are 56' x 189'
  • 1 Common Wall
  • Front Yard

Parking

  • 8 Open Parking Spaces
  • 3 Car Garage
  • Parking Available
  • Assigned Parking

Home Design

  • Property Attached

Interior Spaces

  • 3,384 Sq Ft Home
  • 2-Story Property
  • Family Room with Fireplace
  • Laundry Room

Bedrooms and Bathrooms

  • 7 Bedrooms
  • 6 Bathrooms

Utilities

  • Central Air

Listing and Financial Details

  • Tenant pays for cable TV, electricity, gas
  • Tax Lot 1
  • Tax Tract Number 1480
  • Assessor Parcel Number 42214101

Community Details

Overview

  • No Home Owners Association
  • 3 Buildings
  • 3 Units

Building Details

  • 3 Leased Units
  • 3 Separate Electric Meters
  • 3 Separate Gas Meters
  • 1 Separate Water Meter
  • Gardener Expense $960
  • Insurance Expense $1,269
  • New Taxes Expense $11,684
  • Operating Expense $13,913
  • Gross Income $73,200
  • Net Operating Income $59,287

Property Details

Home Type

Multi-Family

Year Built

Built in 1952

Lot Details

0

Parking

3

Listing Details

  • Other Phone Description: 9493386772
  • Other Phone Number: 9493386772
  • Property Attached: Yes
  • Property Type: Residential Income
  • Gardener Expense: 960.00
  • Parcel Number: 42214101
  • Year Built: 1952
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Fireplace: Yes
  • Stories: 2
  • Common Walls: 1 Common Wall
  • Fireplace Features: Family Room
  • Levels: Two
  • Price Per Square Foot: 382.68

Exterior Features

  • Pool Private: No

Garage/Parking

  • Garage Spaces: 3.00
  • Parking: Yes
  • Parking Features: Assigned
  • Total Parking Spaces: 11.00
  • Uncovered Spaces: 8.00

Utilities

  • Utilities: Electricity Available, Natural Gas Available, Sewer Available, Water Available
  • Laundry: Yes
  • Laundry Features: Individual Room
  • Sewer: Public Sewer
  • Water Source: Public
  • Cooling: Central Air
  • Cooling: Yes

Condo/Co-op/Association

  • Association: No
  • Senior Community: No
  • Community Features: Sidewalks

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: Front Yard
  • Lot Size: 56' x 189'
  • Lot Size Sq Ft: 10454.00

Rental Info

  • Tenant Pays: Cable TV, Electricity, Gas

Multi Family

  • Gross Income: 73200.00
  • Gross Scheduled Income: 73200.00
  • Insurance Expense: 1269.00
  • Net Operating Income: 59287.00
  • Number Of Separate Electric Meters: 3
  • Number Of Separate Gas Meters: 3
  • Number Of Separate Water Meters: 1
  • Number Of Units Leased: 3
  • Number Of Units Total: 3
  • Operating Expense: 13913.00
  • Rent Control: No
  • Total Actual Rent: 74400.00
  • Total Expenses: 13913.00

Tax Info

  • New Taxes Expense: 11684.00
  • Tax Lot: 1
  • Tax Tract Number: 1480

Range of Values:

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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 Prior Sale
11/06/2017 11/06/17 Sold $1,295,000 -0.4% $383 / Sq Ft
09/14/2017 09/14/17 For Sale $1,300,000 +66.9% $384 / Sq Ft
06/12/2014 06/12/14 Sold $779,000 0.0% $233 / Sq Ft View Prior Sale
05/04/2014 05/04/14 Pending -- -- --
05/02/2014 05/02/14 For Sale $779,000 -- $233 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: NP17212654

California Regional Multiple Listing Service (CRMLS)

APN: 422-141-01