NOT LISTED FOR SALE
20 Beds
10 Baths
9,120 Sq Ft
9,148 Sq Ft Lot

Last Sold August 19, 2013

Last sale price $1,980,000 $217 Per Sq Ft

52 Days on Market

Highlights

  • Contemporary Architecture
  • No HOA
  • Tile Flooring
  • Corner Lot
  • Laundry Room
  • Wall Furnace

About This Home

As of August 2013

12 Units in a great rental area of Costa Mesa...Convenient location near shopping, restaurants,schools and freeways...Two buildings of six units each with a shared courtyard, 14 parking spaces and two onsite laundry rooms, All units are 2br/1ba...GRM and CAP RATE based on the income of 11 units... Onsite Manager currently receives free rent.....PLEASE DO NOT DISTURB TENANTS.

Last Agent to Sell the Property

David Fertitta

David J. Fertitta, Broker License #00964295 Listed on: 05/05/2013

Last Buyer's Agent

Rick Applebaum

Morgan Skenderian License #01273871

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1960

Lot Details

  • 9,148 Sq Ft Lot
  • Two or More Common Walls
  • Chain Link Fence
  • Corner Lot

Parking

  • 14 Parking Spaces

Home Design

  • Contemporary Architecture
  • Property Attached
  • Slab Foundation
  • Composition Roof
  • Stucco

Interior Spaces

  • 9,120 Sq Ft Home
  • 2-Story Property
  • Tile Flooring
  • Gas Cooktop

Bedrooms and Bathrooms

  • 20 Bedrooms
  • 10 Bathrooms

Laundry

  • Laundry Room
  • Leased Washer and Dryer

Additional Features

  • Exterior Lighting
  • Wall Furnace

Listing and Financial Details

  • Tenant pays for cable TV, electricity, gas
  • Tax Lot 14
  • Tax Tract Number 2327
  • Assessor Parcel Number 42216202

Community Details

Overview

  • No Home Owners Association
  • 2 Buildings
  • 12 Units

Amenities

  • Laundry Facilities

Building Details

  • 12 Leased Units
  • 14 Separate Electric Meters
  • 14 Separate Gas Meters
  • 2 Separate Water Meters
  • Electric Expense $1,045
  • Gardener Expense $590
  • Insurance Expense $4,191
  • Maintenance Expense $2,000
  • Other Expense $60
  • Pest Control $720
  • Trash Expense $5,291
  • Water Sewer Expense $6,085
  • New Taxes Expense $26,875
  • Gross Income $12,400
  • Net Operating Income $103,257

Property Details

Home Type

Multi-Family

Year Built

Built in 1960

Lot Details

0

Listing Details

  • Assessments: Yes
  • CapRate: 4.80
  • Property Attached: Yes
  • View: No
  • Water Sewer Expenses: 6085.00
  • Architectural Style: Contemporary
  • Property Type: Residential Income
  • Gardener Expense: 590.00
  • Parcel Number: 42216202
  • Year Built: 1960
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Fireplace: No
  • Stories: 2
  • Common Walls: 2+ Common Walls
  • Flooring: Tile
  • Appliances: Yes
  • Levels: Two
  • Price Per Square Foot: 217.11

Exterior Features

  • Foundation: Slab
  • Fencing: Chain Link
  • Pool Private: No
  • Roof: Composition
  • Spa: No
  • Construction Materials: Stucco

Garage/Parking

  • Total Parking Spaces: 14.00

Utilities

  • Utilities: Sewer Available
  • Heating: Yes
  • Laundry: Yes
  • Appliances: Gas Cooktop
  • Heating Type: Wall Furnace
  • Laundry Features: Community
  • Pest Control Expense: 720.00
  • Trash Expense: 5291.00
  • Water Source: Public

Condo/Co-op/Association

  • Association: No
  • Community Features: Curbs, Sidewalks, Street Lights

Lot Info

  • Lot Features: Corner Lot
  • Lot Size Sq Ft: 9148.00
  • Lot Size Acres: 0.2100

Rental Info

  • Tenant Pays: Cable TV, Electricity, Gas

Multi Family

  • Electric Expense: 1045.00
  • Gross Income: 12400.00
  • Gross Multiplier: 14.06
  • Gross Scheduled Income: 148800.00
  • Insurance Expense: 4191.00
  • Laundry Equipment Own Lease: Lease
  • Lot Size Area: 9148.0000 Square Feet
  • Maintenance Expense: 2000.00
  • Net Operating Income: 103257.00
  • Number Of Separate Electric Meters: 14
  • Number Of Separate Gas Meters: 14
  • Number Of Separate Water Meters: 2
  • Number Of Units Leased: 12
  • Number Of Units Total: 12
  • Number With Range: 12
  • Operating Expense: 49694.00
  • Other Expense: 60.00
  • Other Expense Description: License
  • Rent Control: No
  • Total Actual Rent: 12400.00

Tax Info

  • New Taxes Expense: 26875.00
  • Taxes Percent: 1.25
  • Tax Lot: 14
  • Tax Tract Number: 2327
  • Tax Year: 2011

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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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
08/19/2013 08/19/13 Sold $1,980,000 -11.0% $217 / Sq Ft
06/26/2013 06/26/13 Pending -- -- --
05/05/2013 05/05/13 For Sale $2,225,000 -- $244 / 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 $14,920 $1,213,600 $876,493 $337,107
2024 $14,920 $1,189,804 $859,306 $330,498
2023 $14,514 $1,166,475 $842,457 $324,018
2022 $14,065 $1,143,603 $825,938 $317,665
2021 $13,604 $1,121,180 $809,743 $311,437
2020 $13,475 $1,109,684 $801,440 $308,244
2019 $13,229 $1,087,926 $785,726 $302,200
2018 $12,982 $1,066,595 $770,320 $296,275
2017 $12,764 $1,045,682 $755,216 $290,466
2016 $12,491 $1,025,179 $740,408 $284,771
2015 $12,362 $1,009,780 $729,286 $280,494
2014 $12,076 $990,000 $715,000 $275,000
Source: Public Records

Agents Affiliated with this Home

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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: PW13082748

California Regional Multiple Listing Service (CRMLS)