NOT LISTED FOR SALE
9 Beds
8 Baths
4,968 Sq Ft
8,760 Sq Ft Lot

Last Sold July 15, 2020

Last sale price $1,775,000 $357 Per Sq Ft

23 Days on Market

Highlights

  • Double Pane Windows
  • Laundry Room
  • Central Heating
  • California Elementary School Rated A
  • Accessible Parking
  • 4-minute walk to Smallwood Park

About This Home

As of July 2020

THIS IS A GREAT AND EXTREMELY RARE OPPORTUNITY TO PURCHASE TWO FABULOUS SIDE BY SIDE "SPICE STREET 4-PLEXES" in a great rental area of Costa Mesa. You can purchase the subject property along with the court-yard adjacent 4-Plex at 3098 MACE AVE which has a permitted add-on family room of 247 sq. ft. added to the 3br. unit. Extremely well located in Costa Mesa only a few miles from the beach in the "Mesa Verde" area with easy access to the 405, 73 and 55 freeways. Very clean, beautiful and wide concrete paved and single loaded alley. This is a very large 4-Plex (largest standard model in the tract) with approximately 4,968 sq.ft. of living space with large bedrooms, living areas and spacious closets. 3br unit is approx. 1,700'/2brs approx. 1,100'. Located on a (73 x 120) or 8,760 sq. ft. lot. All units have fireplaces. Two Double Garages. One Single Garage + 3 Parking Spaces. Upgraded with all newer energy efficient Vinyl Dual Pane Windows making the units very quiet inside. All units have central Forced Air Heating and Ceiling Fans in all rooms. There is a central laundry room with washer and dryer owned by Seller and included in the purchase price. All units are in excellent condition and have good sized yards, patios or B-B-Q areas. No missed rents (to date of this listing) during Covid-19! Hurry to take advantage of this very rare and excellent opportunity to own two of the very nicest and largest side by side 4-plexes in Costa Mesa's very desirable "Spice Street Tract.

Last Agent to Sell the Property

Bob Walz

New Dimension Investment Prop License #00640512 Listed on: 05/17/2020

Last Buyer's Agent

Daniel Blackwell

CB Richard Ellis, Inc. License #01854961

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1969

Lot Details

  • 8,760 Sq Ft Lot
  • 1 Common Wall
  • Level Lot
  • Flag Lot
  • Sprinkler System
  • Front Yard

Parking

  • 5 Car Garage
  • Parking Available
  • Parking Lot
  • Off-Street Parking
  • Assigned Parking

Home Design

  • Property Attached
  • Shingle Roof
  • Asphalt Roof

Interior Spaces

  • 4,968 Sq Ft Home
  • 2-Story Property
  • Ceiling Fan
  • Double Pane Windows
  • Living Room with Fireplace
  • Disposal

Bedrooms and Bathrooms

  • 9 Bedrooms
  • 8 Bathrooms

Laundry

  • Laundry Room
  • Dryer
  • Washer

Utilities

  • Central Heating
  • Natural Gas Connected
  • Sewer Paid
  • Phone Available
  • Cable TV Available

Additional Features

  • Accessible Parking
  • Exterior Lighting

Listing and Financial Details

  • Tenant pays for cable TV, electricity, gas
  • Tax Lot 5
  • Tax Tract Number 6260
  • Assessor Parcel Number 13955108

Community Details

Building Details

  • 4 Leased Units
  • Rent Control
  • 5 Separate Electric Meters
  • 5 Separate Gas Meters
  • 1 Separate Water Meter
  • Electric Expense $372
  • Fuel Expense $583
  • Gardener Expense $810
  • Insurance Expense $2,223
  • Maintenance Expense $5,055
  • Pest Control $354
  • Trash Expense $750
  • Water Sewer Expense $1,007
  • New Taxes Expense $20,123
  • Operating Expense $31,327
  • Gross Income $101,100
  • Net Operating Income $68,951

Additional Features

  • 4 Units
  • Laundry Facilities

Property Details

Home Type

Multi-Family

Year Built

Built in 1969

Lot Details

0

Parking

5

Listing Details

  • Assessments: Yes
  • CapRate: 3.83
  • Property Attached: Yes
  • Subdivision Name Other: Spice Street Tract
  • Water Sewer Expenses: 1007.00
  • Property Type: Residential Income
  • Gardener Expense: 810.00
  • Parcel Number: 13955108
  • Year Built: 1969
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Fireplace: Yes
  • Interior Amenities: Ceiling Fan(s)
  • Stories: 2
  • Common Walls: 1 Common Wall
  • Accessibility Features: Parking
  • Appliances: Yes
  • Fireplace Features: Living Room
  • Levels: Two
  • Price Per Square Foot: 357.29
  • Window Features: Double Pane Windows

Exterior Features

  • Pool Private: No
  • Roof: Asphalt, Shingle

Garage/Parking

  • Garage Spaces: 5.00
  • Parking: Yes
  • Parking Features: Assigned, Concrete, Paved, Garage, Off Street, On Site, Parking Space
  • Total Parking Spaces: 5.00

Utilities

  • Utilities: Cable Available, Electricity Connected, Natural Gas Connected, Phone Available, Sewer Connected, Water Connected
  • Heating: Yes
  • Laundry: Yes
  • Appliances: Disposal
  • Heating Type: Central
  • Laundry Features: Common Area, Dryer Included, Gas & Electric Dryer Hookup, Washer Included
  • Pest Control Expense: 354.00
  • Sewer: Public Sewer, Sewer Paid
  • Trash Expense: 750.00
  • Water Source: Public

Condo/Co-op/Association

  • Senior Community: No
  • Community Features: Curbs, Sidewalks, Street Lights

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: Front Yard, Level with Street, Lot 6500-9999, Flag Lot, Level, Sprinkler System
  • Lot Size Sq Ft: 8760.00
  • Lot Size Acres: 0.2011

Rental Info

  • Tenant Pays: Cable TV, Electricity, Gas

Multi Family

  • Electric Expense: 372.00
  • Fuel Expense: 583.00
  • Gross Income: 101100.00
  • Gross Multiplier: 17.60
  • Gross Scheduled Income: 101100.00
  • Insurance Expense: 2223.00
  • Laundry Equipment Own Lease: Own
  • Laundry Income: 1200.00
  • Lot Size Area: 8760.0000 Square Feet
  • Maintenance Expense: 5055.00
  • Maintenance Percent: 5.00
  • Net Operating Income: 68951.00
  • 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
  • Operating Expense: 31327.00
  • Operating Expense Percent: 30.60
  • Rent Control: Yes
  • Total Actual Rent: 8425.00
  • Total Expenses: 31327.00
  • Vacancy Allowance Rate: 2.00

Tax Info

  • New Taxes Expense: 20123.00
  • Tax Lot: 5
  • Tax Rate: 1.05
  • Tax Tract Number: 6260
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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
07/15/2020 07/15/20 Sold $1,775,000 -1.4% $357 / Sq Ft
05/28/2020 05/28/20 Price Changed $1,800,000 -7.7% $362 / Sq Ft
05/17/2020 05/17/20 For Sale $1,950,000 -- $393 / 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 $21,180 $1,921,316 $1,704,831 $216,485
2024 $21,180 $1,883,644 $1,671,403 $212,241
2023 $20,682 $1,846,710 $1,638,630 $208,080
2022 $20,281 $1,810,500 $1,606,500 $204,000
2021 $19,885 $1,775,000 $1,575,000 $200,000
2020 $10,432 $883,976 $654,418 $229,558
2019 $10,236 $866,644 $641,587 $225,057
2018 $10,042 $849,651 $629,006 $220,645
2017 $9,871 $832,992 $616,673 $216,319
2016 $9,730 $816,659 $604,581 $212,078
2015 $9,631 $804,393 $595,500 $208,893
2014 $9,408 $788,637 $583,835 $204,802
Source: Public Records

Agents Affiliated with this Home

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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: OC20094223

California Regional Multiple Listing Service (CRMLS)

APN: 139-551-08