$3,070,000
SOLD JAN 21, 2025

2474 Elden Ave Costa Mesa, CA 92627

Eastside Costa Mesa Neighborhood
7 Beds
6 Baths
4,300 Sq Ft
0.46 Acres

Recently Sold

$714 Per Sq Ft

10% Below List Price

20 Days on Market

Highlights

  • 0.46 Acre Lot
  • Neighborhood Views
  • Laundry Room
  • Heinz Kaiser Elementary School Rated A
  • 7 Car Direct Access Garage
  • Bungalow

About This Home

As of January 2025

Welcome to 2474 Elden Avenue in Eastside Costa Mesa. This charming property is being marketed for the first time EVER! The quintessential Eastside charmer includes six bungalows - five (5) one bedroom/one bath and one (1) two bedrooms/one bath situated on a huge 20,000+ square foot lot. All units include washer/dryer hookups, private one garages with opener, individual yards plus additional off-street parking. The first bungalow has a wood burning fireplace and a large yard. The 2 Bedroom unit at the rear of the property has a huge private yard and extra storage. Numerous upgrades including vinyl windows, LVP or wood flooring, tile and updated kitchens and baths. Ideal rental location on a prime Eastside street with easy access to the Back Bay, fairgrounds, freeways, schools including Orange Coast College, restaurants, shopping and the beach! Great tenants-strong rents but room for rent increases!

Last Agent to Sell the Property

Paula Rayburn

Pavilion Properties Brokerage Phone: 949-463-8974 License #00882686 Listed on: 11/30/2024

Last Buyer's Agent

Afshin Jafari Mojarad

Afshin Jafari, Broker License #01941027

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1964 | Remodeled

Lot Details

  • 0.46 Acre Lot
  • No Common Walls
  • Density is 6-10 Units/Acre

Parking

  • 7 Car Direct Access Garage
  • 2 Open Parking Spaces
  • 1 Carport Space
  • Parking Available
  • Front Facing Garage
  • Assigned Parking

Home Design

  • Bungalow

Interior Spaces

  • 4,300 Sq Ft Home
  • 1-Story Property
  • Living Room with Fireplace
  • Neighborhood Views

Bedrooms and Bathrooms

  • 7 Bedrooms
  • 6 Bathrooms

Laundry

  • Laundry Room
  • Washer and Gas Dryer Hookup

Utilities

  • Wall Furnace
  • Cable TV Available

Listing and Financial Details

  • Tenant pays for electricity, gas
  • Tax Lot 84
  • Tax Tract Number 300
  • Assessor Parcel Number 43929110

Community Details

Overview

  • 4 Buildings
  • 6 Units
  • Eastside Central Subdivision

Building Details

  • 6 Leased Units
  • Rent Control
  • 6 Separate Electric Meters
  • 6 Separate Gas Meters
  • 1 Separate Water Meter
  • Insurance Expense $10,000
  • Professional Management Expense $8,000
  • Trash Expense $3,419
  • Water Sewer Expense $1,218
  • New Taxes Expense $36,000
  • Operating Expense $60,000
  • Gross Income $186,540
  • Net Operating Income $125,325

Property Details

Home Type

Multi-Family

Year Built

Built in 1964 | Remodeled

Lot Details

0

Parking

7

Listing Details

  • CapRate: 3.68
  • Price Per Unit: 566667
  • Professional Management Expense: 8000.00
  • Property Attached: No
  • Subdivision Name Other: Eastside Central (ECCM)
  • View: Yes
  • Water Sewer Expenses: 1218.00
  • Architectural Style: Bungalow
  • Property Condition: Updated/Remodeled
  • Property Sub Type: Commercial/Residential
  • Property Type: Residential Income
  • Parcel Number: 43929110
  • Year Built: 1964
  • Special Features: None

Interior Features

  • Fireplace: Yes
  • Stories: 1
  • Entry Location: Front
  • Common Walls: No Common Walls
  • Entry Level: 1
  • Fireplace Features: Living Room
  • Levels: One
  • Price Per Square Foot: 713.95
  • Room Type: All Bedrooms Down

Exterior Features

  • View: Neighborhood
  • Pool Private: No

Garage/Parking

  • Carport Spaces: 1.00
  • Garage Spaces: 7.00
  • Parking: Yes
  • Parking Features: Assigned, Direct Garage Access, Concrete, Garage Faces Front
  • Total Parking Spaces: 10.00
  • Uncovered Spaces: 2.00

Utilities

  • Utilities: Cable Available, Sewer Connected, Water Connected
  • Heating: Yes
  • Laundry: Yes
  • Heating Type: Wall Furnace
  • Laundry Features: Gas Dryer Hookup, Washer Hookup
  • Sewer: Public Sewer
  • Trash Expense: 3419.00
  • Water Source: Public

Condo/Co-op/Association

  • Senior Community: No
  • Community Features: Curbs

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: 6-10 Units/Acre, Lot 20000-39999 Sqft
  • Lot Size Sq Ft: 20038.00
  • Lot Size Acres: 0.4600
  • Latitude Manual: 33.65799200

Rental Info

  • Tenant Pays: Electricity, Gas

Multi Family

  • Average1 Bed Area: 700 Square Feet
  • Average2 Bed Area: 950 Square Feet
  • Gross Income: 186540.00
  • Gross Multiplier: 18.23
  • Gross Operating Income: 184674.00
  • Gross Scheduled Income: 186540.00
  • Gross Spendable Income: 125325.00
  • Insurance Expense: 10000.00
  • Lot Size Area: 20038.0000 Square Feet
  • Net Operating Income: 125325.00
  • Number Of Separate Electric Meters: 6
  • Number Of Separate Gas Meters: 6
  • Number Of Separate Water Meters: 1
  • Number Of Units Leased: 6
  • Number Of Units Total: 6
  • Number Wall A C: 2
  • Number With Disposal: 6
  • Number With Patio: 6
  • Number With Range: 6
  • Operating Expense: 61215.00
  • Rent Control: Yes
  • Total Actual Rent: 15545.00
  • Total Expenses: 60000.00
  • Vacancy Allowance: 1865
  • Vacancy Allowance Rate: 1.00

Tax Info

  • New Taxes Expense: 36000.00
  • Tax Census Tract: 631.02
  • Tax Lot: 84
  • Tax Tract Number: 300

Range of Values:

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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
01/21/2025 01/21/25 Sold $3,070,000 -9.7% $714 / Sq Ft
11/30/2024 11/30/24 For Sale $3,400,000 -- $791 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • Paula Rayburn

    Seller's Agent in 2025

    Paula Rayburn

    Pavilion Properties

    (949) 463-8974

    1 in this area

    5 Total Sales

    Section Image
  • Afshin Jafari Mojarad

    Buyer's Agent in 2025

    Afshin Jafari Mojarad

    Afshin Jafari, Broker

    (949) 280-7868

    1 in this area

    17 Total Sales

    Section Image
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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: NP24237807

California Regional Multiple Listing Service (CRMLS)

California Orange County Costa Mesa 92627 Eastside Costa Mesa

2474 Elden Ave, Costa Mesa, CA

This home is located at 2474 Elden Ave, Costa Mesa, CA 92627 and is currently priced at $3,070,000, approximately $713 per square foot. This property was built in 1964. 2474 Elden Ave is a home located in Orange County with nearby schools including Heinz Kaiser Elementary School, Woodland Elementary School, and Horace Ensign Intermediate 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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