NOT LISTED FOR SALE
2 Beds
1 Bath
4,738 Sq Ft
1959 Built

Last Sold May 11, 2017

Last sale price $1,600,000 $338 Per Sq Ft

1 Day on Market

Highlights

  • No HOA
  • Forced Air Heating System
  • 5-minute walk to Ketchum-Libolt Park

About This Home

As of May 2017

Excellent opportunity for a 6-unit income property located in a desirable area in Costa Mesa. All units have two bedrooms and one full bathroom with approximately 750 square feet of living space plus a laundry room. Close to shopping, transportation, schools and easy access to the freeway. This is a high rental demand area.

Last Agent to Sell the Property

Andrew Swavely

ReMax Metro Realty Commercial License #00466196 Listed on: 02/24/2017

Last Buyer's Agent

NoEmail NoEmail

NONMEMBER MRML

NONMEMBER MRML

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1959

Lot Details

  • 9,148 Sq Ft Lot
  • 1 Common Wall

Home Design

  • 4,738 Sq Ft Home
  • Property Attached

Bedrooms and Bathrooms

  • 2 Bedrooms
  • 1 Bathroom

Utilities

  • Forced Air Heating System
  • Private Sewer

Listing and Financial Details

  • Tax Lot 4
  • Tax Tract Number 2327
  • Assessor Parcel Number 42216104

Community Details

Overview

  • No Home Owners Association
  • 6 Units

Building Details

  • 6 Leased Units
  • 7 Separate Electric Meters
  • 7 Separate Gas Meters
  • 1 Separate Water Meter
  • Electric Expense $380
  • Gardener Expense $960
  • Insurance Expense $2,100
  • Maintenance Expense $2,205
  • Trash Expense $2,232
  • Water Sewer Expense $3,060
  • New Taxes Expense $7,280
  • Operating Expense $29,728
  • Gross Income $88,200
  • Net Operating Income $57,590

Property Details

Home Type

Multi-Family

Year Built

Built in 1959

Lot Details

0

Listing Details

  • Property Attached: Yes
  • Water Sewer Expenses: 3060.00
  • Zoning: R2
  • Property Type: Residential Income
  • Gardener Expense: 960.00
  • Parcel Number: 42216104
  • Year Built: 1959
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Common Walls: 1 Common Wall
  • Levels: Two
  • Price Per Square Foot: 337.70

Exterior Features

  • Pool Private: No

Utilities

  • Heating: Yes
  • Heating Type: Forced Air
  • Sewer: Private Sewer
  • Trash Expense: 2232.00
  • Water Source: Public

Condo/Co-op/Association

  • Association: No
  • Community Features: Curbs

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: Lot 6500-9999
  • Lot Size Sq Ft: 9148.00

Multi Family

  • Electric Expense: 380.00
  • Gross Income: 88200.00
  • Gross Operating Income: 87318.00
  • Gross Scheduled Income: 88200.00
  • Insurance Expense: 2100.00
  • Maintenance Expense: 2205.00
  • Net Operating Income: 57590.00
  • Number Of Separate Electric Meters: 7
  • Number Of Separate Gas Meters: 7
  • Number Of Separate Water Meters: 1
  • Number Of Units Leased: 6
  • Number Of Units Total: 6
  • Operating Expense: 29728.00
  • Rent Control: No
  • Total Actual Rent: 7200.00
  • Total Expenses: 29728.00
  • Vacancy Allowance Rate: 1.00

Tax Info

  • New Taxes Expense: 7280.00
  • Tax Census Tract: 638.08
  • Tax Lot: 4
  • Tax Tract Number: 2327

Range of Values:

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Value Increase
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Percent Increase
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Adjusted for Inflation
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Average Value
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Sold Price
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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
05/11/2017 05/11/17 Sold $1,600,000 0.0% $338 / Sq Ft
02/24/2017 02/24/17 For Sale $1,600,000 -- $338 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Tax History Compared to Growth

Source: Public Records

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 $21,557 $1,856,934 $1,444,930 $412,004
2024 $21,557 $1,820,524 $1,416,598 $403,926
2023 $20,996 $1,784,828 $1,388,822 $396,006
2022 $20,442 $1,749,832 $1,361,590 $388,242
2021 $19,858 $1,715,522 $1,334,892 $380,630
2020 $19,668 $1,697,932 $1,321,204 $376,728
2019 $19,292 $1,664,640 $1,295,298 $369,342
2018 $18,924 $1,632,000 $1,269,900 $362,100
2017 $16,211 $1,373,118 $1,109,058 $264,060
2016 $15,861 $1,346,195 $1,087,312 $258,883
2015 $15,700 $1,325,974 $1,070,979 $254,995
2014 $15,335 $1,300,000 $1,050,000 $250,000
Source: Public Records

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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: PW17038046

California Regional Multiple Listing Service (CRMLS)