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

Sale Details

Date Sold: November 6, 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

Amenities

  • Laundry Facilities

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

10,454 Sq Ft Lot

Parking

3

Listing Details

  • 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

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
Sep 14, 2017
Closed on
Sep 27, 2017
Sold by
Bought by
Seller's Agent
Carmela Phillips
Villa Real Estate
Buyer's Agent
Daniel Krause
Century 21 Discovery
List Price
$1,300,000
Sold Price
$1,295,000
Premium/Discount to List
-$5,000
-0.38%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$971,250
Interest Rate
0.0383%
Mortgage Type
New Conventional

Purchase Details

Closed on
Sep 10, 2015
Sold by
Bought by

Purchase Details

Listed on
May 2, 2014
Closed on
May 9, 2014
Sold by
Bought by
Seller's Agent
David Macleod
Coldwell Banker Realty
Buyer's Agent
Charlene Bent
Coldwell Banker Realty
List Price
$779,000
Sold Price
$779,000

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$535,500
Interest Rate
0.0335%
Mortgage Type
Commercial

Purchase Details

Closed on
Jan 7, 2013
Sold by
Bought by

Purchase Details

Closed on
Apr 14, 2004
Sold by
Bought by

Purchase Details

Closed on
Nov 4, 1989
Sold by
Bought by

Purchase Details

Closed on
Oct 17, 1988
Sold by
Bought by
Source: Public Records
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Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

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
$1,295,000 Lawyers Title
-- None Available
$765,000 First American Title Ins Co
-- None Available
-- --
$20,000 --
-- --
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 $971,250
Previous Owner $535,500
Previous Owner $425,000
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 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

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
2025 $17,435 $1,473,487 $1,302,600 $170,887
2024 $17,435 $1,444,596 $1,277,059 $167,537
2023 $16,895 $1,416,271 $1,252,019 $164,252
2022 $16,458 $1,388,501 $1,227,469 $161,032
2021 $16,004 $1,361,276 $1,203,401 $157,875
2020 $15,808 $1,347,318 $1,191,061 $156,257
2019 $15,462 $1,320,900 $1,167,706 $153,194
2018 $15,149 $1,295,000 $1,144,809 $150,191
2017 $10,038 $808,026 $635,207 $172,819
2016 $9,834 $792,183 $622,752 $169,431
2015 $9,742 $780,284 $613,398 $166,886
2014 $8,776 $693,132 $536,065 $157,067
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

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