C
Seller's Agent in 2019
Carl Reinhart
Carl Reinhart, Broker
(714) 404-8020
10 Total Sales
3018 Fillmore Way Costa Mesa, CA 92626
Northside Costa Mesa Neighborhood
4
Beds
3
Baths
3,191
Sq Ft
6,098
Sq Ft
Highlights
- No Units Above
- Property is near public transit
- No HOA
- Paularino Elementary School Rated A-
- Private Yard
- 3-minute walk to Paularino Park
About This Home
As of August 2019Great location in the South Coast Metro Area. Located 3/4 mile SW of South Coast Plaza, the highest volume retail mall in the U.S., with $1.5 billion in annual sales. Located 1/2 mile NE of Orange Coast College, less than one mile N of the OC Fairgrounds, and less than two miles W of John Wayne Airport.
The property consists of a single building with a 1-story, 2 BR/1 BA unit in the front and two 2 BR/1.5 BA two-story townhouse-style units in the rear. Very spacious units averaging 1,063 sf, each with dishwashers and patios and/or balconies. The building was constructed in 1963. Each unit has an individual garage space and there are 3 additional uncovered spaces. Parking is accessed through a rear alley.
There is extremely strong rental demand in the South Coast Metro Area and there is significant upside in the current lease rates. In fact, same-sized renovated 2 BR/1 BA and 2 BR/1.5 BA units on the same street are currently rented at rates as high as $1,575 and $1,815/month, respectively.
Current income specified below is actual. Current expenses are estimated. Projected Scheduled Gross Income and Net Operating Income with renovated units at market rental rates are $63,600 and $42,260, respectively. Projected Gross Rent Multiplier is 17.0.
The Seller owns the adjacent triplex property and will consider a single sale of the two properties together.
Last Agent to Sell the Property
Carl Reinhart, Broker License #00647355 Listed on: 06/29/2019
Property Details
Home Type
- Multi-Family
Year Built
- Built in 1963
Lot Details
- 6,098 Sq Ft Lot
- No Units Above
- No Units Located Below
- Two or More Common Walls
- Rectangular Lot
- Level Lot
- Private Yard
- Lawn
- Back and Front Yard
- Density is 21-25 Units/Acre
Parking
- 3 Car Garage
- 3 Open Parking Spaces
- Parking Available
- Rear-Facing Garage
- Three Garage Doors
- Parking Lot
- Off-Street Parking
- Assigned Parking
Home Design
- Triplex
- Entry on the 1st floor
- Cosmetic Repairs Needed
- Slab Foundation
- Fire Rated Drywall
- Composition Roof
- Stucco
Interior Spaces
- 3,191 Sq Ft Home
- 2-Story Property
- Window Screens
- Living Room
- Fire and Smoke Detector
Kitchen
- Gas Oven
- Gas Range
- Free-Standing Range
- Dishwasher
- Formica Countertops
- Disposal
Flooring
- Carpet
- Tile
Bedrooms and Bathrooms
- 4 Bedrooms
- 3 Bathrooms
Laundry
- Laundry Room
- Washer and Gas Dryer Hookup
Outdoor Features
- Balcony
- Exterior Lighting
Location
- Property is near public transit
- Suburban Location
Utilities
- Cooling System Powered By Gas
- Cooling System Mounted To A Wall/Window
- Heating System Uses Natural Gas
- Wall Furnace
- Overhead Utilities
- Natural Gas Connected
Listing and Financial Details
- Tenant pays for cable TV, electricity, gas
- Tax Lot 6
- Tax Tract Number 4281
- Assessor Parcel Number 14113416
Community Details
Overview
- No Home Owners Association
- 3 Units
Building Details
- 3 Leased Units
- 3 Separate Electric Meters
- 3 Separate Gas Meters
- 1 Separate Water Meter
- Gardener Expense $600
- Insurance Expense $2,000
- Maintenance Expense $2,400
- Other Expense $900
- Professional Management Expense $1,929
- Trash Expense $900
- Water Sewer Expense $900
- New Taxes Expense $11,339
- Operating Expense $20,968
- Gross Income $49,200
- Net Operating Income $27,248
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Home Values in the Area
Average Home Value in this Area
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft |
|---|---|---|---|---|
| 08/29/2019 08/29/19 | Sold | $1,045,000 | -3.2% | $327 / Sq Ft |
| 07/23/2019 07/23/19 | Pending | -- | -- | -- |
| 06/29/2019 06/29/19 | For Sale | $1,079,000 | -- | $338 / 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 | $13,126 | $1,142,857 | $1,040,086 | $102,771 |
| 2024 | $13,126 | $1,120,449 | $1,019,693 | $100,756 |
| 2023 | $12,765 | $1,098,480 | $999,699 | $98,781 |
| 2022 | $12,391 | $1,076,942 | $980,097 | $96,845 |
| 2021 | $12,020 | $1,055,826 | $960,879 | $94,947 |
| 2020 | $11,906 | $1,045,000 | $951,026 | $93,974 |
| 2019 | $2,141 | $117,732 | $43,933 | $73,799 |
| 2018 | $2,108 | $115,424 | $43,072 | $72,352 |
| 2017 | $2,076 | $113,161 | $42,227 | $70,934 |
| 2016 | $2,038 | $110,943 | $41,399 | $69,544 |
| 2015 | $2,012 | $109,277 | $40,777 | $68,500 |
| 2014 | $1,968 | $107,137 | $39,978 | $67,159 |
Source: Public Records
Agents Affiliated with this Home
-
Carl Reinhart
-
Sammer Mudawar
Buyer's Agent in 2019
Sammer Mudawar
THE brokeredge
(714) 660-4008
2 in this area
49 Total Sales
Map
Source: California Regional Multiple Listing Service (CRMLS)
MLS Number: PW19154053
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.
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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