NOT LISTED FOR SALE
8 Beds
4 Baths
3,824 Sq Ft
0.28 Acres

Last Sold November 22, 2016

Last sale price $1,760,000 $460 Per Sq Ft

15 Days on Market

Highlights

  • Wood Flooring
  • Bonus Room
  • Cooling System Mounted To A Wall/Window
  • Heinz Kaiser Elementary School Rated A
  • Double Pane Windows
  • Laundry Room

About This Home

As of November 2016

This is an excellent opportunity to own a well-kept four unit income property in popular Eastside Costa Mesa! The property is on a 12,000+ SF lot and is comprised of a 2+BR cottage in the front with is own driveway, and three units in the back building comprised of 1br/1 bath, 2br/1 bath, and 3br/1bath units. There is a common driveway with plenty of parking for the use of the back units and guests. A large community patio space is behind the back building, and there is a covered patio area between both buildings as well. Updates include commercial grade tank-less water heater, dual pane windows, roof and exterior paint. This property is well kept and will be vacant at the close of escrow.

Last Agent to Sell the Property

Tim Carr

Pacific Sotheby's Int'l Realty License #01017277 Listed on: 09/20/2016

Last Buyer's Agent

Tim Carr

Pacific Sotheby's Int'l Realty License #01017277 Listed on: 09/20/2016

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1971

Lot Details

  • 0.28 Acre Lot
  • Two or More Common Walls
  • Fenced
  • Fence is in average condition
  • Landscaped
  • Back and Front Yard

Home Design

  • Quadruplex
  • Additions or Alterations

Interior Spaces

  • 3,824 Sq Ft Home
  • Ceiling Fan
  • Double Pane Windows
  • Blinds
  • Bonus Room
  • Gas Oven
  • Laundry Room

Flooring

  • Wood
  • Tile
  • Vinyl

Bedrooms and Bathrooms

  • 8 Bedrooms
  • 4 Bathrooms

Parking

  • Parking Available
  • Shared Driveway
  • Uncovered Parking

Outdoor Features

  • Exterior Lighting

Utilities

  • Cooling System Mounted To A Wall/Window
  • Central Heating
  • Vented Exhaust Fan
  • Natural Gas Connected
  • Tankless Water Heater

Listing and Financial Details

  • Tenant pays for cable TV
  • Tax Lot 72
  • Tax Tract Number 15026
  • Assessor Parcel Number 43917138

Community Details

Overview

  • 2 Buildings
  • 4 Units

Amenities

  • Laundry Facilities

Building Details

  • 4 Separate Electric Meters
  • 4 Separate Gas Meters
  • 1 Separate Water Meter
  • Net Operating Income $90,720

Property Details

Home Type

Multi-Family

Year Built

Built in 1971

Lot Details

0

Listing Details

  • Assessments: Yes
  • CapRate: 4.30
  • Property Attached: Yes
  • Property Condition: Additions/Alterations
  • Property Sub Type: Quadruplex
  • Property Type: Residential Income
  • Parcel Number: 43917138
  • Year Built: 1971
  • Special Features: None

Interior Features

  • Interior Amenities: Ceiling Fan(s)
  • Common Walls: 2+ Common Walls
  • Flooring: Tile, Vinyl, Wood
  • Appliances: Yes
  • Price Per Square Foot: 460.25
  • Room Type: Bonus Room
  • Window Features: Blinds, Double Pane Windows

Exterior Features

  • Fence: Yes
  • Fencing: Average Condition
  • Pool Private: No

Garage/Parking

  • Parking: Yes
  • Parking Features: Uncovered, Driveway, Shared Driveway

Utilities

  • Utilities: Electricity Connected, Natural Gas Connected
  • Heating: Yes
  • Laundry: Yes
  • Appliances: Gas Oven, Tankless Water Heater, Vented Exhaust Fan
  • Heating Type: Central
  • Laundry Features: Common Area, Community
  • Sewer: Public Sewer
  • Water Source: Public
  • Cooling: Wall/Window Unit(s)
  • Cooling: Yes

Condo/Co-op/Association

  • Senior Community: No
  • Community Features: Street Lights

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: Back Yard, Front Yard, Landscaped, Lot 10000-19999 Sqft
  • Lot Size Sq Ft: 12197.00

Rental Info

  • Tenant Pays: Cable TV

Multi Family

  • Gross Scheduled Income: 129600.00
  • Net Operating Income: 90720.00
  • Number Of Separate Electric Meters: 4
  • Number Of Separate Gas Meters: 4
  • Number Of Separate Water Meters: 1
  • Number Of Units Total: 4
  • Operating Expense: 38880.00
  • Rent Control: No

Tax Info

  • Tax Census Tract: 631.02
  • Tax Lot: 72
  • Tax Tract Number: 15026

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
11/22/2016 11/22/16 Sold $1,760,000 -16.2% $460 / Sq Ft
09/20/2016 09/20/16 For Sale $2,099,000 -- $549 / 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 $22,859 $2,042,629 $1,392,705 $649,924
2024 $22,859 $2,002,578 $1,365,397 $637,181
2023 $22,323 $1,963,312 $1,338,624 $624,688
2022 $21,881 $1,924,816 $1,312,376 $612,440
2021 $21,363 $1,887,075 $1,286,643 $600,432
2020 $21,159 $1,867,726 $1,273,450 $594,276
2019 $20,745 $1,831,104 $1,248,480 $582,624
2018 $20,344 $1,795,200 $1,224,000 $571,200
2017 $19,994 $1,760,000 $1,200,000 $560,000
2016 $14,033 $1,199,447 $1,008,492 $190,955
2015 $13,892 $1,181,431 $992,895 $188,536
2014 $13,569 $1,158,289 $973,446 $184,843
Source: Public Records

Agents Affiliated with this Home

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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: NP16701853

California Regional Multiple Listing Service (CRMLS)