$2,040,000
SOLD MAR 6, 2025
9 Beds
8 Baths
4,966 Sq Ft
8,712 Sq Ft Lot

Recently Sold

$411 Per Sq Ft

2% Below List Price

2 Days on Market

Highlights

  • Property is near park
  • Private Yard
  • Laundry Room
  • California Elementary School Rated A
  • No HOA
  • 5-minute walk to Smallwood Park

About This Home

As of March 2025

A rare investment opportunity in the highly sought-after Mesa Verde "Spice Streets"! This well-maintained fourplex boasts 4,966 square feet of living space on an 8,700 square foot lot, offering a solid income stream with long-term tenants in place and significant upside potential for rental growth. The property features a mix of three 2-bed/2-bath units and one spacious 3-bed/2-bath unit with a private master bath, fireplace, and laundry in unit. Parking is plentiful with enclosed garage spaces and two uncovered spaces, plus an on-site laundry facility for tenant convenience. Each unit is separately metered for gas and electricity. Tenants enjoy easy access to local parks, shopping and dining spots, and major freeways, including the 405 and 55. Don't miss this incredible investment opportunity in one of Costa Mesa's best multifamily communities!

Last Agent to Sell the Property

Kendra Fisher

Torelli Realty Brokerage Phone: 7146063376 License #02157903 Listed on: 02/06/2025

Co-Listed By

Ryan Knapp

Torelli Realty Brokerage Phone: 7146063376 License #02065582

Last Buyer's Agent

Susie McKibben

Compass License #01966883

Compass

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1969

Lot Details

  • 8,712 Sq Ft Lot
  • Two or More Common Walls
  • Landscaped
  • Sprinkler System
  • Private Yard
  • Density is up to 1 Unit/Acre

Parking

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

Home Design

  • Quadruplex
  • Entry on the 1st floor

Interior Spaces

  • 4,966 Sq Ft Home
  • 2-Story Property

Bedrooms and Bathrooms

  • 9 Bedrooms
  • 8 Bathrooms

Laundry

  • Laundry Room
  • Washer

Location

  • Property is near park

Listing and Financial Details

  • Tax Lot 3
  • Tax Tract Number 15045
  • Assessor Parcel Number 13955110

Community Details

Overview

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

Amenities

  • Laundry Facilities

Building Details

  • 4 Leased Units
  • 4 Separate Electric Meters
  • 4 Separate Gas Meters
  • 1 Separate Water Meter
  • Electric Expense $298
  • Gardener Expense $3,000
  • Insurance Expense $2,000
  • Trash Expense $948
  • Water Sewer Expense $2,760
  • Operating Expense $25,239
  • Gross Income $99,180
  • Net Operating Income $73,940

Property Details

Home Type

Multi-Family

Year Built

Built in 1969

Lot Details

0

Parking

5

Listing Details

  • CapRate: 5.00
  • Property Attached: Yes
  • Subdivision Name Other: Mesa Verde Residential Income (MVRI)
  • Water Sewer Expenses: 2760.00
  • Property Sub Type: Quadruplex
  • Property Type: Residential Income
  • Gardener Expense: 3000.00
  • Parcel Number: 13955110
  • Year Built: 1969
  • Special Features: None

Interior Features

  • Stories: 2
  • Common Walls: 2+ Common Walls
  • Entry Level: 1
  • Levels: Two
  • Price Per Square Foot: 410.79

Exterior Features

  • Pool Private: No

Garage/Parking

  • Garage Spaces: 5.00
  • Parking: Yes
  • Parking Features: Assigned, Garage Faces Rear, Garage - Single Door, Garage - Two Door
  • Total Parking Spaces: 7.00
  • Uncovered Spaces: 2.00

Utilities

  • Laundry: Yes
  • Laundry Features: Common Area, Community, Washer Hookup, Washer Included
  • Sewer: Public Sewer
  • Trash Expense: 948.00
  • Water Source: Public

Condo/Co-op/Association

  • Association: No
  • Senior Community: No
  • Common Interest: Community Apartment
  • Community Features: Sidewalks

Lot Info

  • Land Lease: No
  • Lot Features: 0-1 Unit/Acre, Landscaped, Park Nearby, Sprinkler System, Yard
  • Lot Size Sq Ft: 8712.00
  • Lot Size Acres: 0.2000

Multi Family

  • Electric Expense: 298.00
  • Gross Income: 99180.00
  • Gross Scheduled Income: 103000.00
  • Insurance Expense: 2000.00
  • Laundry Income: 680.00
  • Lot Size Area: 8712.0000 Square Feet
  • Net Operating Income: 73940.00
  • Number Of Separate Electric Meters: 4
  • Number Of Separate Gas Meters: 4
  • Number Of Separate Water Meters: 1
  • Number Of Units Leased: 4
  • Number Of Units Total: 4
  • Operating Expense: 25239.00
  • Rent Control: No
  • Total Expenses: 25239.00

Tax Info

  • Tax Lot: 3
  • Tax Tract Number: 15045

Range of Values:

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Value Increase
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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
03/06/2025 03/06/25 Sold $2,040,000 -1.7% $411 / Sq Ft
02/06/2025 02/06/25 For Sale $2,076,000 -- $418 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Tax History Compared to Growth

Source: Public Records

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 $8,815 $690,618 $385,500 $305,118
2024 $8,815 $677,077 $377,941 $299,136
2023 $8,553 $663,801 $370,530 $293,271
2022 $8,233 $650,786 $363,265 $287,521
2021 $7,923 $638,026 $356,142 $281,884
2020 $7,847 $631,484 $352,490 $278,994
2019 $7,708 $619,102 $345,578 $273,524
2018 $7,565 $606,963 $338,802 $268,161
2017 $7,439 $595,062 $332,159 $262,903
2016 $7,282 $583,395 $325,646 $257,749
2015 $7,206 $574,632 $320,754 $253,878
2014 $7,039 $563,376 $314,471 $248,905
Source: Public Records

Agents Affiliated with this Home

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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: PW25018717

California Regional Multiple Listing Service (CRMLS)

APN: 139-551-10