NOT LISTED FOR SALE
9 Beds
8 Baths
4,966 Sq Ft
8,276 Sq Ft Lot

Last Sold August 10, 2021

Last sale price $1,584,375 $319 Per Sq Ft

159 Days on Market

Highlights

  • Golf Course Community
  • Stone Countertops
  • Park
  • California Elementary School Rated A
  • No HOA
  • 2-minute walk to Smallwood Park

About This Home

As of August 2021

A truly rare opportunity to own a beautiful Covington style 4plex on a street full of pride-of-ownership properties in Mesa Verde’s highly coveted ‘Spice Streets’ area. This well maintained building is conveniently located in Costa Mesa close to shopping, restaurants, John Wayne Airport, Orange Coast College, golf courses, Orange County Fairgrounds, and Newport’s great beaches as well as the neighborhood Smallwood Park one block away. All this comes with easy access to the 405, 73 and 55 freeways. This is a great owner occupant or investment opportunity! All tenants enjoy large units. The front unit is a large 3 Bedroom 2 bath house with a fireplace, inside laundry and spacious outside patio’s. The rear 3 units are all 2 bedroom 2 bath units. All units have Central Forced Air Heating. Units B & C have been remodeled with an open concept design. The building comes with an onsite coin operated community laundry. The units come all separately metered for both gas and electric. There’s plenty of parking, 5 garages and 2 additional assigned spots for a total of 7 car parking along with wide paved alley in the rear of the property. Hurry. Don’t miss out on this rare opportunity, this one won't last long.

Last Agent to Sell the Property

James Skawinski

First Team Real Estate License #00521530 Listed on: 02/01/2021

First Team Real Estate

Co-Listed By

Nick Skawinski

First Team Real Estate License #01937449

Last Buyer's Agent

John Allen

House of Seven Gables R.E. License #01939546

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1969

Lot Details

  • 8,276 Sq Ft Lot
  • 1 Common Wall
  • East Facing Home
  • Vinyl Fence
  • Block Wall Fence

Parking

  • 5 Car Garage
  • 2 Open Parking Spaces
  • Parking Available
  • Rear-Facing Garage

Home Design

  • Quadruplex
  • Flat Roof Shape
  • Slab Foundation
  • Spanish Tile Roof
  • Stucco

Interior Spaces

  • 4,966 Sq Ft Home
  • 2-Story Property
  • Ceiling Fan
  • Recessed Lighting
  • Gas Fireplace
  • Living Room with Fireplace

Kitchen

  • Gas Oven
  • Gas Cooktop
  • Stone Countertops

Flooring

  • Carpet
  • Tile
  • Vinyl

Bedrooms and Bathrooms

  • 9 Bedrooms
  • 8 Bathrooms

Laundry

  • Laundry Room
  • Laundry in Kitchen

Outdoor Features

  • Exterior Lighting
  • Outdoor Grill

Location

  • Suburban Location

Utilities

  • Forced Air Heating System
  • Natural Gas Connected

Listing and Financial Details

  • Tenant pays for electricity, gas
  • Tax Lot 13
  • Tax Tract Number 6260
  • Assessor Parcel Number 13956306

Community Details

Overview

  • No Home Owners Association
  • 4 Units
  • Mesa Verde Residential Income Subdivision

Amenities

  • Laundry Facilities

Recreation

  • Golf Course Community
  • Park

Building Details

  • 4 Separate Electric Meters
  • 4 Separate Gas Meters
  • 1 Separate Water Meter
  • Electric Expense $276
  • Gardener Expense $2,348
  • Insurance Expense $3,000
  • Pest Control $1,231
  • Professional Management Expense $5,677
  • Trash Expense $1,410
  • Water Sewer Expense $3,768
  • New Taxes Expense $20,515
  • Operating Expense $21,000
  • Gross Income $85,500
  • Net Operating Income $64,500

Property Details

Home Type

Multi-Family

Year Built

Built in 1969

Lot Details

0

Parking

5

Listing Details

  • CapRate: 3.50
  • Professional Management Expense: 5677.00
  • Property Attached: Yes
  • Road Frontage Type: City Street
  • Road Surface Type: Paved
  • Subdivision Name Other: Mesa Verde Residential Income (MVRI)
  • View: No
  • Water Sewer Expenses: 3768.00
  • Property Sub Type: Quadruplex
  • Property Type: Residential Income
  • Gardener Expense: 2348.00
  • Parcel Number: 13956306
  • Year Built: 1969
  • Special Features: None

Interior Features

  • Fireplace: Yes
  • Interior Amenities: Ceiling Fan(s), Recessed Lighting, Stone Counters
  • Stories: 2
  • Common Walls: 1 Common Wall
  • Flooring: Carpet, Tile, Vinyl
  • Appliances: Yes
  • Fireplace Features: Living Room, Gas
  • Levels: Two
  • Price Per Square Foot: 319.04
  • Room Type: Kitchen, Living Room

Exterior Features

  • Direction Faces: East
  • Foundation: Slab
  • Exterior Features: Barbecue Private
  • Fence: Yes
  • Fencing: Block, Vinyl
  • Pool Private: No
  • Roof: Flat, Spanish Tile
  • Spa: No
  • Construction Materials: Stucco

Garage/Parking

  • Garage Spaces: 5.00
  • Parking: Yes
  • Parking Features: Garage Faces Rear
  • Total Parking Spaces: 7.00
  • Uncovered Spaces: 2.00

Utilities

  • Utilities: Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected
  • Heating: Yes
  • Laundry: Yes
  • Appliances: Gas Oven, Gas Range, Gas Cooktop
  • Electric: Electricity - On Property
  • Heating Type: Central, Forced Air
  • Laundry Features: Community, In Kitchen, Individual Room
  • Pest Control Expense: 1231.00
  • Sewer: Public Sewer
  • Trash Expense: 1410.00
  • Water Source: Public

Condo/Co-op/Association

  • Association: No
  • Senior Community: No
  • Community Features: Curbs, Golf, Park, Sidewalks, Street Lights, Suburban

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: Lot 6500-9999
  • Lot Size Sq Ft: 8276.00
  • Lot Size Acres: 0.1900

Rental Info

  • Tenant Pays: Electricity, Gas

Multi Family

  • Electric Expense: 276.00
  • Gross Income: 85500.00
  • Gross Operating Income: 87437.50
  • Gross Scheduled Income: 85500.00
  • Insurance Expense: 3000.00
  • Laundry Income: 1937.50
  • Lot Size Area: 8276.0000 Square Feet
  • Net Operating Income: 64500.00
  • Number Of Separate Electric Meters: 4
  • Number Of Separate Gas Meters: 4
  • Number Of Separate Water Meters: 1
  • Number Of Units Total: 4
  • Number With Carpet: 4
  • Number With Dishwasher: 4
  • Number With Range: 3
  • Operating Expense: 21000.00
  • Rent Control: No
  • Total Actual Rent: 7125.00
  • Total Expenses: 21000.00

Tax Info

  • New Taxes Expense: 20515.00
  • Tax Census Tract: 638.06
  • Tax Lot: 13
  • Tax Tract Number: 6260

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
08/10/2021 08/10/21 Sold $1,584,375 -11.9% $319 / Sq Ft
07/10/2021 07/10/21 Pending -- -- --
06/27/2021 06/27/21 Price Changed $1,799,000 -3.5% $362 / Sq Ft
06/04/2021 06/04/21 For Sale $1,865,000 +17.7% $376 / Sq Ft
05/25/2021 05/25/21 Off Market $1,584,375 -- --
04/07/2021 04/07/21 Price Changed $1,865,000 -6.5% $376 / Sq Ft
02/01/2021 02/01/21 For Sale $1,995,000 -- $402 / 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: NP21020378

California Regional Multiple Listing Service (CRMLS)

APN: 139-563-06