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Seller's Agent in 2023
Nick Gould
Morgan Skenderian
2016 Wallace Ave Costa Mesa, CA 92627
Westside Costa Mesa NeighborhoodEstimated Value: $1,465,000 - $3,108,728
10
Beds
5
Baths
5,400
Sq Ft
$445/Sq Ft
Est. Value
Highlights
- 0.42 Acre Lot
- Laundry Room
- Front Yard
- No HOA
- Bike Trail
- 1-Story Property
About This Home
As of August 2023We are pleased to present 2016 Wallace Avenue, an added-value 6-unit apartment building in Costa Mesa's up-and-coming Westside submarket. Built in 1962, the building is comprised of two(2) completely detached,single-story, 2-Bedroom/1-Bathroom cottages at the front and rear of the property and two (2) single-story duplexes with 2-Bedroom/1-Bathroom units. The common duplex walls are in the garage, making the duplex units feel like detached cottages. All units come with a garage, one off-street space, a washer/dryer hookup, and private patios or yards. This opportunity has massive upside for the right investor.
Last Agent to Sell the Property
Nick Gould
Morgan Skenderian License #01521955 Listed on: 04/18/2023
Last Buyer's Agent
Nick Gould
Morgan Skenderian License #01521955 Listed on: 04/18/2023
Property Details
Home Type
- Multi-Family
Year Built
- Built in 1962
Lot Details
- 0.42 Acre Lot
- 1 Common Wall
- Front Yard
- Density is 6-10 Units/Acre
Parking
- 6 Open Parking Spaces
- 6 Car Garage
Home Design
- Apartment
- Entry on the 1st floor
Interior Spaces
- 5,400 Sq Ft Home
- 1-Story Property
Bedrooms and Bathrooms
- 10 Bedrooms
- 5 Bathrooms
Laundry
- Laundry Room
- Washer and Gas Dryer Hookup
Listing and Financial Details
- Legal Lot and Block 17 / C
- Tax Tract Number 612
- Assessor Parcel Number 42225218
- $3,702 per year additional tax assessments
Community Details
Overview
- No Home Owners Association
- 4 Buildings
- 6 Units
Recreation
- Bike Trail
Building Details
- 6 Leased Units
- Rent Control
- 6 Separate Electric Meters
- 6 Separate Gas Meters
- 1 Separate Water Meter
- Electric Expense $1,000
- Fuel Expense $750
- Gardener Expense $1,560
- Insurance Expense $2,907
- Maintenance Expense $7,682
- Water Sewer Expense $1,500
- New Taxes Expense $32,615
- Operating Expense $49,251
- Gross Income $128,040
- Net Operating Income $75,642
Ownership History
Date
Name
Owned For
Owner Type
Purchase Details
Closed on
May 24, 2023
Sold by
Dean Cdawson And Ana M Dawson Revocable
Bought by
Williams Trust and Williams
Current Estimated Value
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$1,560,000
Interest Rate
6.81%
Mortgage Type
New Conventional
Purchase Details
Closed on
May 5, 2005
Sold by
Dawson Dean C and Dawson Ana M
Bought by
Dawson Dean C and Dawson Ana M
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
Home Values in the Area
Average Home Value in this Area
Purchase History
| Date | Buyer | Sale Price | Title Company |
|---|---|---|---|
| Williams Trust | -- | Old Republic Title Company | |
| Dawson Dean C | -- | -- |
Source: Public Records
Mortgage History
| Date | Status | Borrower | Loan Amount |
|---|---|---|---|
| Previous Owner | Williams Trust | $1,560,000 |
Source: Public Records
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft |
|---|---|---|---|---|
| 08/21/2023 08/21/23 | Sold | $2,500,000 | -9.1% | $463 / Sq Ft |
| 05/22/2023 05/22/23 | Pending | -- | -- | -- |
| 05/18/2023 05/18/23 | Price Changed | $2,749,000 | -2.3% | $509 / Sq Ft |
| 04/18/2023 04/18/23 | For Sale | $2,815,000 | -- | $521 / Sq Ft |
Source: California Regional Multiple Listing Service (CRMLS)
Tax History Compared to Growth
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 | $30,828 | $2,550,000 | $2,287,473 | $262,527 |
| 2024 | $30,828 | $2,500,000 | $2,242,620 | $257,380 |
| 2023 | $27,192 | $2,200,000 | $1,962,668 | $237,332 |
| 2022 | $10,579 | $653,794 | $338,167 | $315,627 |
| 2021 | $10,075 | $640,975 | $331,536 | $309,439 |
| 2020 | $9,893 | $634,403 | $328,136 | $306,267 |
| 2019 | $9,658 | $621,964 | $321,702 | $300,262 |
| 2018 | $9,457 | $609,769 | $315,394 | $294,375 |
| 2017 | $9,326 | $597,813 | $309,210 | $288,603 |
| 2016 | $9,160 | $586,092 | $303,147 | $282,945 |
| 2015 | $9,075 | $577,289 | $298,594 | $278,695 |
| 2014 | $8,899 | $565,981 | $292,745 | $273,236 |
Source: Public Records
Agents Affiliated with this Home
Map
Source: California Regional Multiple Listing Service (CRMLS)
MLS Number: PW23064620
APN: 422-252-18
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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
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