$2,125,000
SOLD MAY 14, 2025

3123 Cinnamon Ave Costa Mesa, CA 92626

Mesa Verde Neighborhood
9 Beds
8 Baths
4,614 Sq Ft
8,004 Sq Ft Lot

Recently Sold

$461 Per Sq Ft

1% Below List Price

99 Days on Market

Highlights

  • Laundry Room
  • California Elementary School Rated A
  • Central Heating and Cooling System

About This Home

As of May 2025

Excellent pride of ownership 4 unit multifamily investment property located inside of Mesa Verde's "Spice Streets." Long term ownership with large upside to increase rental income. Rent roll listed includes the recent rent increase effective April 1st. Unit mix is three 2 bed/2 bath units and one 3 bed/2 bath unit. Ample parking with five garages and two uncovered parking spaces. Each unit has central air conditioning with extensive renovation in the 3 bedroom unit that also has a large private patio. Onsite laundry facilities available for tenant use. Interior electrical subpanels have been replaced in all units and the laundry room recently. Building is separately metered for gas and electric. Tenants have easy access to shops, restaurants, and are within close proximity to major thoroughfares including the 405 and 55 freeway.

Last Agent to Sell the Property

Sean Riley

CB Richard Ellis, Inc. License #01920511 Listed on: 02/20/2025

Last Buyer's Agent

Tim Smith

Coldwell Banker Realty License #01346878

Coldwell Banker Realty

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1966

Lot Details

  • 8,004 Sq Ft Lot
  • Lot Dimensions are 79x101

Parking

  • 2 Open Parking Spaces
  • 5 Car Garage

Interior Spaces

  • 4,614 Sq Ft Home
  • 2-Story Property
  • Laundry Room

Bedrooms and Bathrooms

  • 9 Bedrooms
  • 8 Bathrooms

Utilities

  • Central Heating and Cooling System

Community Details

  • 4 Units

Listing and Financial Details

  • The owner pays for water, gardener
  • Assessor Parcel Number 139-503-02

Property Details

Home Type

Multi-Family

Year Built

Built in 1966

Lot Details

0

Parking

5

Listing Details

  • Property Type: Residential Income
  • Levels: Two
  • Street Number Display: Yes
  • Living Area: 4614
  • Lot Acreage: 0.1800
  • Lot Dimensions: 79x101
  • Probate: No
  • Stories: 2
  • Year Built: 1966
  • State Abbrv: CA
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Bedrooms: 9
  • Common Walls: Attached
  • Laundry: Laundry Area
  • Total Bathrooms: 8.00
  • Price Per S Q F T: 465.97

Exterior Features

  • Other Structures: None

Garage/Parking

  • Garage Spaces: 5
  • Other Spaces: 2
  • Parking Garage: Garage - 1 Car, Garage - 2 Car, Uncovered
  • Total Parking: 7

Utilities

  • Cooling: Central
  • Heating: Central
  • Water Heaters: Yes

Lot Info

  • Assessed Improvement Percent: 17.23
  • Assessed Improvement Value: 206662
  • Assessed Land Percent: 82.77
  • Assessed Land Value: 992722
  • Total Assessed Value: 1199384
  • Assessor Parcel Number: 139-503-02
  • Lot Size Area: 8004

Rental Info

  • Land Lease Type: Fee
  • Owner Pays: Water, Gardener

Multi Family

  • Unit Type: 2106, 2107, 2108, 2109
  • Gross Rent Multiplier: 17.19
  • Number Of Units: 4
  • Type Of Units: Apartments

Range of Values:

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Value Increase
--
Percent Increase
--
Adjusted for Inflation
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Average Value
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List Price
Sold Price
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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
05/14/2025 05/14/25 Sold $2,125,000 -1.2% $461 / Sq Ft
04/02/2025 04/02/25 Pending -- -- --
02/20/2025 02/20/25 For Sale $2,150,000 0.0% $466 / Sq Ft
02/11/2025 02/11/25 Pending -- -- --
02/06/2025 02/06/25 Price Changed $2,150,000 -6.5% $466 / Sq Ft
12/24/2024 12/24/24 For Sale $2,300,000 -- $498 / Sq Ft
Source: The MLS

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 $14,564 $1,247,838 $1,032,828 $215,010
2024 $14,564 $1,223,371 $1,012,576 $210,795
2023 $14,167 $1,199,384 $992,722 $206,662
2022 $13,755 $1,175,867 $973,257 $202,610
2021 $13,339 $1,152,811 $954,173 $198,638
2020 $13,212 $1,140,991 $944,389 $196,602
2019 $12,959 $1,118,619 $925,871 $192,748
2018 $12,712 $1,096,686 $907,717 $188,969
2017 $12,494 $1,075,183 $889,919 $185,264
2016 $12,222 $1,054,101 $872,469 $181,632
2015 $12,100 $1,038,268 $859,364 $178,904
2014 $11,818 $1,017,930 $842,530 $175,400
Source: Public Records

Agents Affiliated with this Home

  • Sean Riley

    Seller's Agent in 2025

    Sean Riley

    CB Richard Ellis, Inc.

    (714) 493-0614

    1 in this area

    16 Total Sales

    Sean Riley
    Section Image
  • Tim Smith

    Buyer's Agent in 2025

    Tim Smith

    Coldwell Banker Realty

    (949) 478-2295

    3 in this area

    677 Total Sales

    Tim Smith
    Section Image
  • Maleny Rodriguez

    Buyer Co-Listing Agent in 2025

    Maleny Rodriguez

    Coldwell Banker Realty

    (949) 310-9442

    2 in this area

    6 Total Sales

    Maleny Rodriguez
    Section Image
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Map

Source: The MLS

MLS Number: 24-474763

The MLS

APN: 139-503-02

California Orange County Costa Mesa 92626 Mesa Verde

3123 Cinnamon Ave, Costa Mesa, CA

Sold

MultiFamily

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