NOT LISTED FOR SALE

2268 Pamela Ln Costa Mesa, CA 92627

Westside Costa Mesa Neighborhood
6 Beds
4 Baths
2,576 Sq Ft
6,182 Sq Ft Lot

Last Sold May 20, 2021

Last sale price $1,230,000 $477 Per Sq Ft

179 Days on Market

About This Home

As of May 2021

We are pleased to offer 2268 Pamela Lane, a 3-unit apartment investment opportunity located in the popular coastal rental market of Costa Mesa. On the market for the first time in over 40 years, the property is well located on a culdesac in the westside – near the borders of Huntington Beach and Newport Beach – and walking distance to schools, parks, and major retail centers. Pamela Lane is also within minutes of OC Fairgrounds, Orange Coast College, and miles of Orange County’s sandy beaches. The current ownership has taken good care of the property over the years, with upgrades including a newer roof (approximately 10 years ago), renovated kitchens, and wood siding being replaced with stucco. Tenants enjoy garage parking, patios and balconies, and on-site laundry. The property is well-suited for either an owner-occupier, or an investor looking to add a quality asset in a good location to their portfolio. *Highly Desirable Location, Near Fairview Park & Costa Mesa Golf Course, *Great Mix of 1, 2 & 3-Bedroom Units, *First Time on Market in Over 40 Years, *Minutes from Huntington Beach, Newport Beach, OC Fairgrounds & Orange Coast College, *Renovated Kitchens, Newer Roof, Garage Parking

Last Agent to Sell the Property

Damien Breaux

Morgan Skenderian License #01460301 Listed on: 10/02/2020

Last Buyer's Agent

Gantry Wilson

Real Broker License #01412779

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1972

Lot Details

  • 6,182 Sq Ft Lot
  • No Common Walls
  • Density is 2-5 Units/Acre

Parking

  • 2 Open Parking Spaces
  • 3 Car Garage

Home Design

  • 2,576 Sq Ft Home

Bedrooms and Bathrooms

  • 6 Bedrooms
  • 4 Bathrooms

Additional Features

  • Laundry Room
  • Exterior Lighting

Listing and Financial Details

  • Tax Lot 5
  • Tax Tract Number 7797
  • Assessor Parcel Number 42237219

Community Details

Building Details

  • Rent Control
  • 4 Separate Electric Meters
  • 4 Separate Gas Meters
  • 1 Separate Water Meter
  • Gardener Expense $900
  • Insurance Expense $955
  • Maintenance Expense $3,134
  • Other Expense $3,800
  • New Taxes Expense $13,089
  • Operating Expense $22,840
  • Gross Income $1,080
  • Net Operating Income $39,421

Additional Features

  • 3 Units
  • Laundry Facilities

Property Details

Home Type

Multi-Family

Year Built

Built in 1972

Lot Details

0

Parking

3

Listing Details

  • CapRate: 3.20
  • Other Phone Description: Office Phone
  • Other Phone Number: 949-251-8800
  • Property Attached: No
  • Property Type: Residential Income
  • Gardener Expense: 900.00
  • Parcel Number: 42237219
  • Year Built: 1972
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Common Walls: No Common Walls
  • Price Per Square Foot: 477.48

Exterior Features

  • Pool Private: No

Garage/Parking

  • Garage Spaces: 3.00
  • Total Parking Spaces: 5.00
  • Uncovered Spaces: 2.00

Utilities

  • Laundry: Yes
  • Laundry Features: Community
  • Sewer: Public Sewer
  • Water Source: Public

Condo/Co-op/Association

  • Senior Community: No
  • Community Features: Curbs, Sidewalks, Storm Drains, Street Lights

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: 2-5 Units/Acre
  • Lot Size Sq Ft: 6182.00
  • Lot Size Acres: 0.1419

Multi Family

  • Gross Income: 1080.00
  • Gross Multiplier: 19.27
  • Gross Operating Income: 62681.00
  • Gross Scheduled Income: 64620.00
  • Insurance Expense: 955.00
  • Laundry Income: 1080.00
  • Lot Size Area: 6182.0000 Square Feet
  • Maintenance Expense: 3134.00
  • Maintenance Percent: 5.00
  • Net Operating Income: 39421.00
  • Number Of Separate Electric Meters: 4
  • Number Of Separate Gas Meters: 4
  • Number Of Separate Water Meters: 1
  • Number Of Units Total: 3
  • Operating Expense: 23261.00
  • Operating Expense Percent: 36.00
  • Other Expense: 3800.00
  • Other Expense Description: Utility
  • Rent Control: Yes
  • Total Expenses: 22840.00
  • Vacancy Allowance: 1939
  • Vacancy Allowance Rate: 3.00

Tax Info

  • New Taxes Expense: 13089.00
  • Tax Census Tract: 638.08
  • Tax Lot: 5
  • Tax Tract Number: 7797

Range of Values:

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List Price
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 Change Sq Ft Price
05/20/2021 05/20/21 Sold $1,230,000 -1.2% $477 / Sq Ft
02/24/2021 02/24/21 Price Changed $1,245,000 -3.1% $483 / Sq Ft
10/02/2020 10/02/20 For Sale $1,285,000 -- $499 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • Damien Breaux

    Seller's Agent in 2021

    Damien Breaux

    Morgan Skenderian

    (949) 584-0503

    1 in this area

    40 Total Sales

    Section Image
  • Gantry Wilson

    Buyer's Agent in 2021

    Gantry Wilson

    Real Broker

    (714) 264-4626

    3 in this area

    91 Total Sales

    Section Image
  • Ryan Oca

    Buyer Co-Listing Agent in 2021

    Ryan Oca

    Keller Williams Realty

    (949) 891-2721

    2 in this area

    16 Total Sales

    Section Image
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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: PW20207401

California Regional Multiple Listing Service (CRMLS)

APN: 422-372-19

California Orange County Costa Mesa 92627 Westside Costa Mesa

2268 Pamela Ln, Costa Mesa, CA

This home is located at 2268 Pamela Ln, Costa Mesa, CA 92627 since 02 October 2020. This property was built in 1972. 2268 Pamela Ln is a home located in Orange County with nearby schools including Wilson Elementary School, Charles W. Tewinkle Middle School, and Estancia High School.

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.

California Regional Multiple Listing Service (CRMLS) 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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