Seller's Agent in 2023
Rick Applebaum
Morgan Skenderian
(949) 251-8800
74 Total Sales
432 Hamilton St Costa Mesa, CA 92627
Costa Mesa Area
7
Beds
6
Baths
2,972
Sq Ft
8,795
Sq Ft Lot
About This Home
As of November 2023Pleased to present 432 Hamilton Street, a turnkey triplex in Costa Mesa’s developing West Side. This immaculate building has been meticulously improved and upgraded in 2023 with all units receiving new kitchen cabinets, stone countertops, new appliances, fixtures, lighting, vanities, shower enclosures and more. The exterior of the property has recently been painted and all windows and sliders are brand new. The property is comprised of two large two-bedroom/two-bathroom units and one large three-bedroom/two-bathroom unit that will be delivered fully furnished with brand new furniture, televisions and decorative items. Each unit also contains a private patio or balcony with one unit receiving an expansive backyard. Every tenant of the property enjoys washer and dryer hookups, and each unit comes with new washer/dryer machines, refrigerators and microwaves included in the rental. Three individual garages are available for parking along with (5) open parking spaces.
The current owner has obtained approval for the ability to construct (2) additional ADU’s. Each ADU would be a two bedroom/two bathroom unit which would add approximately 1,551 rentable square feet to the premises. All plans and documents will be transferred with the sale and new ownership will only need to obtain their permits and immediately begin construction. The existing unit income added to the additional income from the new ADU’s will produce a projected 11.7% cash-on-cash return which includes the costs to build the new units. Not to mention, the value of the ADU's are estimated to be more than twice as much as their cost to build and these units would not be subject to current rent control laws. This is a rare opportunity to purchase a turnkey property with the potential for massive growth.
Last Agent to Sell the Property
Morgan Skenderian License #01273871 Listed on: 08/21/2023
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $24,401
Year Built
- Built in 1977
Lot Details
- 8,795 Sq Ft Lot
- 1 Common Wall
Parking
- 5 Open Parking Spaces
- 3 Car Garage
- Parking Available
- Assigned Parking
Home Design
- Triplex
- Entry on the 1st floor
Interior Spaces
- 2,972 Sq Ft Home
- 2-Story Property
Bedrooms and Bathrooms
- 7 Bedrooms
- 6 Bathrooms
Laundry
- Laundry in unit
- Dryer
- Washer
Outdoor Features
- Rain Gutters
Listing and Financial Details
- Tax Lot 10
- Tax Tract Number 247
- Assessor Parcel Number 41917130
- $1,115 per year additional tax assessments
Community Details
Overview
- 2 Buildings
- 3 Units
Building Details
- Rent Control
- 4 Separate Electric Meters
- 4 Separate Gas Meters
- 1 Separate Water Meter
- Electric Expense $990
- Fuel Expense $990
- Gardener Expense $600
- Insurance Expense $1,635
- Maintenance Expense $5,441
- Other Expense $500
- Trash Expense $990
- Water Sewer Expense $990
- New Taxes Expense $24,201
- Operating Expense $36,337
- Gross Income $136,013
- Net Operating Income $99,676
Ownership History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
Date
Name
Owned For
Owner Type
Purchase Details
Listed on
Aug 21, 2023
Closed on
Nov 16, 2023
Sold by
Bought by
Seller's Agent
Rick Applebaum
Morgan Skenderian
Buyer's Agent
Malcolm Zeger
Buckingham Investments, Inc
List Price
$2,195,000
Sold Price
$2,025,000
Premium/Discount to List
-$170,000
-7.74%
Views
35
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$1,518,750
Interest Rate
0.0749%
Mortgage Type
Construction
Purchase Details
Closed on
May 10, 2022
Sold by
Bought by
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$1,275,000
Interest Rate
0.051%
Mortgage Type
Balloon
Purchase Details
Closed on
Aug 3, 2005
Sold by
Bought by
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$748,250
Interest Rate
0.069%
Mortgage Type
Purchase Money Mortgage
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Purchase History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Date | Buyer | Sale Price | Title Company |
|---|---|---|---|
| $2,025,000 | Ticor Title | ||
| $1,700,000 | Pacific Coast Title | ||
| $1,025,000 | Chicago Title Company |
Source: Public Records
Mortgage History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Date | Status | Borrower | Loan Amount |
|---|---|---|---|
| Open | $775,000 | ||
| Closed | $500,000 | ||
| Open | $1,518,750 | ||
| Previous Owner | $1,275,000 | ||
| Previous Owner | $400,000 | ||
| Previous Owner | $617,000 | ||
| Previous Owner | $748,250 |
Source: Public Records
Property History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Date | Event | Price | List to Sale | Price per Sq Ft | Prior Sale |
|---|---|---|---|---|---|
| 11/22/2023 11/22/23 | Sold | $2,025,000 | -7.7% | $681 / Sq Ft | |
| 10/09/2023 10/09/23 | Pending | -- | -- | -- | |
| 08/21/2023 08/21/23 | For Sale | $2,195,000 | +29.1% | $739 / Sq Ft | |
| 07/12/2022 07/12/22 | Sold | $1,700,000 | -2.6% | $560 / Sq Ft | View Prior Sale |
| 05/09/2022 05/09/22 | Pending | -- | -- | -- | |
| 04/25/2022 04/25/22 | For Sale | $1,745,000 | -- | $574 / Sq Ft |
Source: California Regional Multiple Listing Service (CRMLS)
Tax History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| 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 | $23,424 | $2,332,082 | $1,850,520 | $481,562 |
| 2024 | $23,424 | $2,025,000 | $1,814,235 | $210,765 |
| 2023 | $19,203 | $1,700,000 | $1,494,763 | $205,237 |
| 2022 | $14,998 | $1,319,953 | $1,083,286 | $236,667 |
| 2021 | $14,529 | $1,294,072 | $1,062,045 | $232,027 |
| 2020 | $14,390 | $1,280,803 | $1,051,155 | $229,648 |
| 2019 | $14,106 | $1,255,690 | $1,030,544 | $225,146 |
| 2018 | $13,833 | $1,231,069 | $1,010,337 | $220,732 |
| 2017 | $12,204 | $1,075,000 | $867,938 | $207,062 |
| 2016 | $11,200 | $983,757 | $776,695 | $207,062 |
| 2015 | $11,089 | $968,981 | $765,029 | $203,952 |
| 2014 | $10,831 | $950,000 | $750,043 | $199,957 |
Source: Public Records
Agents Affiliated with this Home
-
Rick Applebaum
-
Paul Espinosa
Seller Co-Listing Agent in 2023
Paul Espinosa
Morgan Skenderian
(714) 206-2688
42 Total Sales
-
Malcolm Zeger
Buyer's Agent in 2023
Malcolm Zeger
Buckingham Investments, Inc
(626) 483-7983
13 Total Sales
-
Francis Enriquez
Seller's Agent in 2022
Francis Enriquez
Ladera Home Realty
(714) 418-6261
32 Total Sales
-
G
Buyer's Agent in 2022
General NONMEMBER
NONMEMBER MRML
Map
Source: California Regional Multiple Listing Service (CRMLS)
MLS Number: PW23156325
APN: 419-171-30
Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.
The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable copyright laws. Information provided is for viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and CRMLS and its affiliates do not warrant or guarantee such accuracy. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional.
Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information
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