NOT LISTED FOR SALE
15 Beds
14 Baths
7,676 Sq Ft
20,038 Sq Ft

Last Sold August 29, 2019

Last sale price $3,250,000 $423 Per Sq Ft

229 Days on Market

Highlights

  • 0.46 Acre Lot
  • Laundry Room
  • Level Lot
  • Heinz Kaiser Elementary School Rated A
  • Forced Air Heating System

About This Home

As of August 2019

Price Reduced, Seller Motivated.
2677 Orange Avenue is located in the desirable Eastside Costa Mesa submarket and consists of large two and three bedroom townhouse floor-plans which average just under 1,100 sq. ft.

The seven units at 2677 Orange Avenue were constructed in 1977. This property features an excellent unit mix of (6) two bedroom, 1.5 bathroom townhouses and (1) three bedroom, 1.5 bathroom townhouse. The front three bedroom unit has individual washer and dryer hookups and all units have separate hot water heaters and fireplaces. All units feature private yards with five units having very large yards. Each unit has ample linen storage in the upstairs landing. Renovated units feature wide plank-style flooring, upgraded interior doors, new cabinet faces and decorative hardware. It is rare to have the opportunity to acquire a building of this size featuring all large, townhome-style floor-plans where the current rents average $2200. There is attainable rental upside in all units.

Last Agent to Sell the Property

Steven Brombal

Kidder Mathews of California, Inc License #00972129 Listed on: 10/25/2018

Last Buyer's Agent

Michael Brinkman

Coastline Realty License #00926365

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1977

Lot Details

  • 0.46 Acre Lot
  • Two or More Common Walls
  • Level Lot

Parking

  • 11 Open Parking Spaces
  • 7 Car Garage
  • Parking Available
  • Assigned Parking

Home Design

  • Property Attached

Interior Spaces

  • 7,676 Sq Ft Home
  • 2-Story Property
  • Living Room with Fireplace

Kitchen

  • Gas Oven
  • Gas Cooktop
  • Disposal

Bedrooms and Bathrooms

  • 15 Bedrooms
  • 14 Bathrooms

Laundry

  • Laundry Room
  • Washer Hookup

Location

  • Suburban Location

Utilities

  • Forced Air Heating System
  • Natural Gas Connected
  • Gas Water Heater

Listing and Financial Details

  • Tenant pays for electricity, gas
  • Tax Lot 32
  • Assessor Parcel Number 43922132

Community Details

Overview

  • 3 Buildings
  • 7 Units

Amenities

  • Laundry Facilities

Building Details

  • 7 Separate Electric Meters
  • 7 Separate Gas Meters
  • 1 Separate Water Meter
  • New Taxes Expense $39,744
  • Operating Expense $61,693
  • Gross Income $220,200
  • Net Operating Income $151,139

Property Details

Home Type

Multi-Family

Year Built

Built in 1977

Lot Details

0.46 Acres

Parking

7

Listing Details

  • Assessments: Yes
  • CapRate: 4.50
  • Property Attached: Yes
  • Subdivision Name Other: Eastside North (ENCM)
  • Property Type: Residential Income
  • Parcel Number: 43922132
  • Year Built: 1977
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Fireplace: Yes
  • Stories: 2
  • Common Walls: 2+ Common Walls
  • Appliances: Yes
  • Fireplace Features: Living Room
  • Levels: Two
  • Price Per Square Foot: 423.40

Exterior Features

  • Pool Private: No

Garage/Parking

  • Garage Spaces: 7.00
  • Parking: Yes
  • Parking Features: Assigned
  • Total Parking Spaces: 18.00
  • Uncovered Spaces: 11.00

Utilities

  • Utilities: Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected
  • Heating: Yes
  • Laundry: Yes
  • Appliances: Disposal, Gas Oven, Gas Range, Gas Cooktop, Gas Water Heater, Water Heater
  • Heating Type: Central, Forced Air
  • Laundry Features: Community, Washer Hookup
  • Sewer: Public Sewer
  • Water Source: Public

Condo/Co-op/Association

  • Senior Community: No
  • Community Features: Suburban

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: Level with Street, Lot 20000-39999 Sqft
  • Lot Size Sq Ft: 20038.00
  • Lot Size Acres: 0.4600

Rental Info

  • Tenant Pays: Electricity, Gas

Multi Family

  • Gross Income: 220200.00
  • Gross Scheduled Income: 220200.00
  • Lot Size Area: 20038.0000 Square Feet
  • Net Operating Income: 151139.00
  • Number Of Separate Electric Meters: 7
  • Number Of Separate Gas Meters: 7
  • Number Of Separate Water Meters: 1
  • Number Of Units Total: 7
  • Operating Expense: 61693.00
  • Rent Control: No
  • Total Expenses: 61693.00
  • Vacancy Allowance Rate: 4.00

Tax Info

  • New Taxes Expense: 39744.00
  • Tax Census Tract: 631.02
  • Tax Lot: 32
  • Tax Tract Number: 0000
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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
08/29/2019 08/29/19 Sold $3,250,000 -6.7% $423 / Sq Ft
06/11/2019 06/11/19 Pending -- -- --
02/13/2019 02/13/19 Price Changed $3,482,500 -7.7% $454 / Sq Ft
10/25/2018 10/25/18 For Sale $3,775,000 -- $492 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

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 $39,162 $3,554,348 $3,007,528 $546,820
2024 $39,162 $3,484,655 $2,948,556 $536,099
2023 $38,245 $3,416,329 $2,890,741 $525,588
2022 $37,512 $3,349,343 $2,834,060 $515,283
2021 $36,653 $3,283,670 $2,778,490 $505,180
2020 $36,303 $3,250,000 $2,750,000 $500,000
2019 $25,211 $2,199,689 $1,716,448 $483,241
2018 $24,727 $2,156,558 $1,682,792 $473,766
2017 $24,302 $2,114,273 $1,649,796 $464,477
2016 $23,771 $2,072,817 $1,617,447 $455,370
2015 $23,535 $2,041,682 $1,593,152 $448,530
2014 $22,985 $2,001,689 $1,561,945 $439,744
Source: Public Records

Agents Affiliated with this Home

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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: OC18259214

California Regional Multiple Listing Service (CRMLS)
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