NOT LISTED FOR SALE
9 Beds
8 Baths
5,215 Sq Ft
8,760 Sq Ft Lot

Last Sold August 13, 2020

Last sale price $1,800,000 $345 Per Sq Ft

44 Days on Market

Highlights

  • Laundry Room
  • Garden
  • 4-minute walk to Smallwood Park
  • California Elementary School Rated A
  • Rectangular Lot

About This Home

As of August 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 in Costa Mesa. You can purchase the subject property along with the court-yard adjacent 4-Plex at 3094 MACE AVE, which is currently on the market. Extremely well located in Costa Mesa's "Mesa Verde" area just a few miles to the beach. Easy access to the 405, 73 and 55 freeways. Very clean, beautiful and wide concrete paved and single loaded rear alley. Very large 4-Plex with approx. 5,215 sq.ft. of living space. The 3br. has a permitted add-on family room with 247 sq. ft. All large bedrooms (3br. is approx 1,947 sq. ft./2brs approx 1,100sq. ft. Lot is (73 x 120) or 8,760 sq. ft. All units have fireplaces. Two Double Garages, One Single Garage + 3 Parking Spaces. The property has been upgraded with all newer energy efficient Vinyl Dual Pane Windows making the units very quiet inside. All units have Central Forced Air Heating and the 3br. unit also has CENTRAL AIR CONDITION. All units have 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 Brokerage Phone: 714-393-8060 License #00640512 Listed on: 05/17/2020

Last Buyer's Agent

Debra Shen

Wetrust Realty License #01206807

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1969

Lot Details

  • 8,760 Sq Ft Lot
  • Two or More Common Walls
  • Rectangular Lot
  • Level Lot
  • Sprinkler System
  • Garden
  • Front Yard

Parking

  • 5 Car Garage
  • Parking Available
  • Rear-Facing Garage
  • Off-Street Parking

Home Design

  • Property Attached

Interior Spaces

  • 5,215 Sq Ft Home
  • 2-Story Property
  • Living Room with Fireplace
  • Laundry Room

Bedrooms and Bathrooms

  • 9 Bedrooms
  • 8 Bathrooms

Utilities

  • Natural Gas Connected
  • Sewer Paid

Listing and Financial Details

  • Tenant pays for cable TV, electricity, gas
  • Tax Lot 4
  • Tax Tract Number 6260
  • Assessor Parcel Number 13955109

Community Details

Building Details

  • 4 Leased Units
  • Rent Control
  • 5 Separate Electric Meters
  • 5 Separate Gas Meters
  • 1 Separate Water Meter
  • Electric Expense $714
  • Fuel Expense $530
  • Gardener Expense $810
  • Insurance Expense $2,686
  • Maintenance Expense $5,322
  • Pest Control $354
  • Trash Expense $750
  • Water Sewer Expense $1,390
  • New Taxes Expense $20,648
  • Operating Expense $33,254
  • Gross Income $106,440
  • Net Operating Income $71,141

Additional Features

  • 4 Units
  • Laundry Facilities

Property Details

Home Type

Multi-Family

Year Built

Built in 1969

Lot Details

0

Parking

5

Listing Details

  • CapRate: 3.85
  • Property Attached: Yes
  • Subdivision Name Other: Spice Street Tract
  • Water Sewer Expenses: 1390.00
  • Property Type: Residential Income
  • Gardener Expense: 810.00
  • Parcel Number: 13955109
  • Year Built: 1969
  • 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: 345.16

Exterior Features

  • Pool Private: No

Garage/Parking

  • Garage Spaces: 5.00
  • Parking: Yes
  • Parking Features: Garage Faces Rear, Off Street, On Site
  • Total Parking Spaces: 5.00

Utilities

  • Utilities: Electricity Connected, Natural Gas Connected
  • Laundry: Yes
  • Laundry Features: Community
  • 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: Sidewalks, Storm Drains

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: Front Yard, Garden, Level with Street, Lot 6500-9999, Rectangular 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: 714.00
  • Fuel Expense: 530.00
  • Gross Income: 106440.00
  • Gross Multiplier: 17.58
  • Gross Scheduled Income: 105240.00
  • Insurance Expense: 2686.00
  • Laundry Equipment Own Lease: Own
  • Laundry Income: 1200.00
  • Lot Size Area: 8760.0000 Square Feet
  • Maintenance Expense: 5322.00
  • Maintenance Percent: 5.00
  • Net Operating Income: 71141.00
  • 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: 33194.00
  • Operating Expense Percent: 30.90
  • Rent Control: Yes
  • Total Actual Rent: 8870.00
  • Total Expenses: 33254.00
  • Vacancy Allowance Rate: 2.00

Tax Info

  • New Taxes Expense: 20648.00
  • Tax Census Tract: 638.06
  • Tax Lot: 4
  • 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
08/13/2020 08/13/20 Sold $1,800,000 -2.7% $345 / Sq Ft
05/28/2020 05/28/20 Price Changed $1,850,000 -7.3% $355 / Sq Ft
05/17/2020 05/17/20 For Sale $1,995,000 -- $383 / 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 $21,790 $1,948,377 $1,731,892 $216,485
2024 $21,790 $1,910,174 $1,697,933 $212,241
2023 $21,226 $1,872,720 $1,664,640 $208,080
2022 $20,698 $1,836,000 $1,632,000 $204,000
2021 $20,148 $1,800,000 $1,600,000 $200,000
2020 $10,506 $883,978 $643,738 $240,240
2019 $10,310 $866,646 $631,116 $235,530
2018 $10,116 $849,653 $618,741 $230,912
2017 $9,944 $832,994 $606,609 $226,385
2016 $9,730 $816,661 $594,714 $221,947
2015 $9,631 $804,394 $585,780 $218,614
2014 $9,408 $788,638 $574,306 $214,332
Source: Public Records

Agents Affiliated with this Home

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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: OC20094279

California Regional Multiple Listing Service (CRMLS)

APN: 139-551-09