NOT LISTED FOR SALE

3001 Coolidge Ave Costa Mesa, CA 92626

Northside Costa Mesa Neighborhood
2 Beds
1 Bath
3,166 Sq Ft
5,803 Sq Ft Lot

Last Sold August 19, 2021

Last sale price $1,250,000 $395 Per Sq Ft

2 Days on Market

Highlights

  • Property is near a park
  • Corner Lot
  • No HOA
  • Paularino Elementary School Rated A-
  • Private Yard
  • Laundry Room

About This Home

As of August 2021

The subject property is a two-story, 3 unit apartment complex situated West of the 405, and North of the 55 freeways, on Coolidge Avenue in Costa Mesa, CA 92626. The property is a 15 minute drive from Newport Beach, 10 minute drive to John Wayne Airport, and walking distance from local schools, shopping, and restaurants/bars. The property was originally built circa 1962, and contains (3) units. The property is comprised of (1) 2bed+1bath unit, and (2) townhome style 2bed+1.5bath units, for an approximate total of 3,166 rentable square feet. All units have in-unit laundry. There is (1) single car garage, and (1) two car garage, with an additional 3 on- site parking spaces. Held long-term by current ownership, the property represents an excellent value-add opportunity for astute investors to fix up the units and increase cash flow. In addition to upside in the rents, it is possible to monetize the parking garages/spaces to create additional income.

Last Agent to Sell the Property

Michael Mignosa

The Browar Group License #02049221 Listed on: 07/05/2021

Last Buyer's Agent

Michael Mignosa

The Browar Group License #02049221 Listed on: 07/05/2021

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1962

Lot Details

  • 5,803 Sq Ft Lot
  • Two or More Common Walls
  • Corner Lot
  • Private Yard
  • Lawn
  • Back Yard

Parking

  • 3 Open Parking Spaces
  • 3 Car Garage

Home Design

  • Triplex

Interior Spaces

  • 3,166 Sq Ft Home
  • 2-Story Property
  • Laundry Room

Bedrooms and Bathrooms

  • 2 Bedrooms
  • 1 Bathroom

Additional Features

  • Property is near a park
  • Combination Of Heating Systems

Listing and Financial Details

  • Assessor Parcel Number 14114165

Community Details

Overview

  • No Home Owners Association
  • 3 Units

Building Details

  • 3 Leased Units
  • Rent Control
  • 3 Separate Electric Meters
  • 3 Separate Gas Meters
  • 1 Separate Water Meter
  • Insurance Expense $5,904
  • Water Sewer Expense $3,000
  • New Taxes Expense $14,259
  • Operating Expense $29,086
  • Gross Income $48,900
  • Net Operating Income $18,347

Property Details

Home Type

Multi-Family

Year Built

Built in 1962

Lot Details

0

Parking

3

Listing Details

  • Assessments: Yes
  • CapRate: 1.53
  • Property Attached: Yes
  • Water Sewer Expenses: 3000.00
  • Zoning: R2-MD
  • Property Sub Type: Triplex
  • Property Type: Residential Income
  • Parcel Number: 14114165
  • Year Built: 1962
  • Special Features: None

Interior Features

  • Stories: 2
  • Common Walls: 2+ Common Walls
  • Price Per Square Foot: 394.82

Exterior Features

  • Pool Private: No

Garage/Parking

  • Garage Spaces: 3.00
  • Total Parking Spaces: 6.00
  • Uncovered Spaces: 3.00

Utilities

  • Heating: Yes
  • Laundry: Yes
  • Heating Type: Combination
  • Laundry Features: Inside
  • Sewer: Public Sewer
  • Water Source: Public

Condo/Co-op/Association

  • Association: No
  • Senior Community: No
  • Community Features: Curbs, Sidewalks

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: Back Yard, Corner Lot, Lawn, Park Nearby, Yard
  • Lot Size Sq Ft: 5803.00
  • Lot Size Acres: 0.1332

Multi Family

  • Gross Income: 48900.00
  • Gross Scheduled Income: 48900.00
  • Insurance Expense: 5904.00
  • Lot Size Area: 5803.0000 Square Feet
  • Net Operating Income: 18347.00
  • Number Of Separate Electric Meters: 3
  • Number Of Separate Gas Meters: 3
  • Number Of Separate Water Meters: 1
  • Number Of Units Leased: 3
  • Number Of Units Total: 3
  • Number With Patio: 3
  • Number With Refrigerator: 3
  • Operating Expense: 29086.00
  • Rent Control: Yes
  • Total Actual Rent: 4075.00
  • Total Expenses: 29086.00

Tax Info

  • New Taxes Expense: 14259.00

Range of Values:

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Sold Price
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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
08/19/2021 08/19/21 Sold $1,250,000 +4.2% $395 / Sq Ft
07/07/2021 07/07/21 Pending -- -- --
07/05/2021 07/05/21 For Sale $1,200,000 -- $379 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • M

    Seller's Agent in 2021

    Michael Mignosa

    The Browar Group

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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: PTP2104669

California Regional Multiple Listing Service (CRMLS)

APN: 141-141-65

California Orange County Costa Mesa 92626 Northside Costa Mesa

3001 Coolidge Ave, Costa Mesa, CA

This home is located at 3001 Coolidge Ave, Costa Mesa, CA 92626 since 05 July 2021. This property was built in 1962. 3001 Coolidge Ave is a home located in Orange County with nearby schools including Paularino Elementary School, Costa Mesa High School, and St. John the Baptist Catholic 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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