NOT LISTED FOR SALE
9 Beds
7 Baths
4,352 Sq Ft
7,596 Sq Ft Lot

Last Sold November 03, 2021

Last sale price $1,795,000 $412 Per Sq Ft

13 Days on Market

Highlights

  • Laundry Room
  • Central Heating
  • 4 Car Garage
  • Segerstrom High School Rated A-

About This Home

As of November 2021

RARE SOUTH COAST METRO COVINGTON 4-PLEX. Walking distance to South Coast Plaza!!! Across from Calvary Chapel and only 2 blocks out of Costa Mesa. Easy Access to the 405 Freeway. Single Story Three bedroom unit was completely remodeled in September 2020 with approximately $65,000 spent on the remodel. Shows like a model home. Virtually everything is new and beautifully done. It has a beautiful spacious patio completely redone in cement pavers. No Tenants above this 3 bedroom unit. This 3 bedroom unit would be highly desirable for an owner occupant or investor. Each unit has a 1 car enclosed garage and all units have washer and dryer hook-ups in their garages. Also, each unit has it's own separate water heater resulting in lower owner expense because of the tenants paying to heat their water instead of the landlord. The (2) two 2br - 2ba units are large with excellent layouts and large master bedrooms. All units have forced air heaters with the exception of the 2br - 1ba unit above the garages which has a wall heater. In 2020, all decks were replaced and all wood railings around the decks were also replaced. The rents shown for units 2, 3 and 4 are effective as of November 1, 2021. This is truly a rare opportunity to own one of the nicest 4-Plexes in this South Coast Metro tract of 4-Plexes. All tenants are on month to month rental agreements. All units are occupied. All rents are current with good paying tenants. This one won't last long. So hurry with your 4-Plex Buyers!!!

Last Agent to Sell the Property

Bob Walz

New Dimension Investment Prop License #00640512 Listed on: 09/24/2021

Last Buyer's Agent

Maher Haroun

First Team Real Estate License #01335923

First Team Real Estate

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1968

Lot Details

  • 7,596 Sq Ft Lot
  • Two or More Common Walls
  • Density is 2-5 Units/Acre

Parking

  • 4 Car Garage
  • 3 Open Parking Spaces
  • Rear-Facing Garage
  • On-Street Parking
  • Parking Lot
  • Off-Street Parking

Home Design

  • Property Attached

Interior Spaces

  • 4,352 Sq Ft Home
  • 2-Story Property
  • Living Room with Fireplace

Bedrooms and Bathrooms

  • 9 Bedrooms
  • 7 Bathrooms

Laundry

  • Laundry Room
  • Leased Washer and Dryer

Utilities

  • Central Heating
  • Wall Furnace
  • Natural Gas Connected

Listing and Financial Details

  • Tenant pays for electricity, gas
  • Tax Lot 12
  • Tax Tract Number 6690
  • Assessor Parcel Number 41402215

Community Details

Building Details

  • 4 Leased Units
  • Rent Control
  • 5 Separate Electric Meters
  • 5 Separate Gas Meters
  • 1 Separate Water Meter
  • Electric Expense $377
  • Fuel Expense $277
  • Gardener Expense $840
  • Insurance Expense $1,793
  • Maintenance Expense $4,629
  • Trash Expense $1,824
  • Water Sewer Expense $1,775
  • New Taxes Expense $21,533
  • Operating Expense $32,972
  • Gross Income $94,584
  • Net Operating Income $60,620

Additional Features

  • 4 Units
  • Laundry Facilities

Property Details

Home Type

Multi-Family

Year Built

Built in 1968

Lot Details

0

Parking

4

Listing Details

  • Price Per Unit: 448750
  • Property Attached: Yes
  • Water Sewer Expenses: 1775.00
  • Property Type: Residential Income
  • Gardener Expense: 840.00
  • Parcel Number: 41402215
  • Year Built: 1968
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Fireplace: Yes
  • Stories: 2
  • Common Walls: 2+ Common Walls
  • Fireplace Features: Living Room
  • Levels: Two
  • Price Per Square Foot: 412.45

Exterior Features

  • Pool Private: No

Garage/Parking

  • Garage Spaces: 4.00
  • Parking Features: Garage, Garage Faces Rear, Off Street, On Site, Parking Space, Street
  • Total Parking Spaces: 7.00
  • Uncovered Spaces: 3.00

Utilities

  • Utilities: Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected
  • Heating: Yes
  • Laundry: Yes
  • Electric: Electricity - On Property
  • Heating Type: Central, Wall Furnace
  • Laundry Features: Common Area, Gas Dryer Hookup, Washer Hookup
  • Sewer: Public Sewer
  • Trash Expense: 1824.00
  • Water Source: Public

Condo/Co-op/Association

  • Senior Community: No
  • Community Features: Sidewalks

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: 2-5 Units/Acre
  • Lot Size Sq Ft: 7596.00
  • Lot Size Acres: 0.1744

Rental Info

  • Tenant Pays: Electricity, Gas

Multi Family

  • Electric Expense: 377.00
  • Fuel Expense: 277.00
  • Gross Income: 94584.00
  • Gross Operating Income: 89476.00
  • Gross Scheduled Income: 94584.00
  • Insurance Expense: 1793.00
  • Laundry Equipment Own Lease: Lease
  • Laundry Income: 900.00
  • Lot Size Area: 7596.0000 Square Feet
  • Maintenance Expense: 4629.00
  • Maintenance Percent: 5.00
  • Net Operating Income: 60620.00
  • Number Of Separate Electric Meters: 5
  • Number Of Separate Gas Meters: 5
  • Number Of Separate Water Meters: 1
  • Number Of Units Leased: 4
  • Number Of Units Total: 4
  • Number With Disposal: 4
  • Number With Range: 4
  • Operating Expense: 32972.00
  • Rent Control: Yes
  • Total Actual Rent: 94584.00
  • Total Expenses: 32972.00
  • Vacancy Allowance Rate: 2.00

Tax Info

  • New Taxes Expense: 21533.00
  • Tax Lot: 12
  • Tax Rate: 1.13
  • Tax Tract Number: 6690

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
11/03/2021 11/03/21 Sold $1,795,000 0.0% $412 / Sq Ft
09/24/2021 09/24/21 For Sale $1,795,000 +13.2% $412 / Sq Ft
09/02/2020 09/02/20 Sold $1,585,000 -0.3% $364 / Sq Ft
07/23/2020 07/23/20 For Sale $1,589,000 +44.5% $365 / Sq Ft
10/21/2014 10/21/14 Sold $1,100,000 0.0% $253 / Sq Ft
09/12/2014 09/12/14 Pending -- -- --
09/03/2014 09/03/14 For Sale $1,100,000 -- $253 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: OC21209633

California Regional Multiple Listing Service (CRMLS)

APN: 414-023-02