NOT LISTED FOR SALE
16 Beds
8 Baths
6,354 Sq Ft
0.28 Acre Lot

Sale Details

Date Sold: April 30, 2021

Last sale price $2,980,000 $469 Per Sq Ft

20 Days on Market

Highlights

  • Golf Course Community
  • City Lights View
  • Level Lot
  • Gated Community
  • Laundry Room
  • Wall Furnace

About This Home

As of April 2021

Great 8 unit complex on 2 lots 574 and 578 Joann Street. This is a turnkey pair of 4 plexes with gated courtyard in the middle and is in a Fabulous location right next to Costa Mesa Golf course. Near by shopping, restaurants and schools. All 8 units are totally remodeled, 7 units just a few years ago and 1 unit just completed. The Roof and exterior paint are new with in the last few years too. The units are all rented at 1800 except one at 1850. Very easy to rent, vacancy has never been a problem here. Rents could be raised to get higher return. You also could do 2 separate loans because each 4 plex has its own APN #.

Last Agent to Sell the Property

Jill Daley-Burnett

Regency Real Estate Brokers License #01005640 Listed on: 03/05/2021

Regency Real Estate Brokers

Last Buyer's Agent

Aneeta Kumar

Keller Williams Realty License #01325889

Keller Williams Realty

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1959

Lot Details

  • 12,196 Sq Ft Lot
  • Two or More Common Walls
  • Level Lot
  • Front Yard
  • Density is 6-10 Units/Acre

Property Views

  • City Lights
  • Golf Course

Home Design

  • Apartment
  • Entry on the 2nd floor

Interior Spaces

  • 6,354 Sq Ft Home
  • 2-Story Property
  • Laundry Room

Bedrooms and Bathrooms

  • 16 Bedrooms
  • 8 Bathrooms

Parking

  • Parking Available
  • Assigned Parking

Utilities

  • Wall Furnace

Listing and Financial Details

  • Tenant pays for cable TV, electricity
  • Tax Lot 11
  • Tax Tract Number 2327
  • Assessor Parcel Number 42216304

Community Details

Overview

  • 2 Buildings
  • 8 Units

Recreation

  • Golf Course Community

Building Details

  • 8 Leased Units
  • 8 Separate Electric Meters
  • 8 Separate Gas Meters
  • 2 Separate Water Meters
  • Electric Expense $600
  • Fuel Expense $840
  • Gardener Expense $2,100
  • Insurance Expense $2,878
  • Maintenance Expense $3,000
  • Other Expense $190
  • Trash Expense $1,573
  • Water Sewer Expense $4,560
  • New Taxes Expense $21,090
  • Operating Expense $36,831
  • Gross Income $178,239
  • Net Operating Income $141,408

Security

  • Gated Community

Property Details

Home Type

Multi-Family

Year Built

Built in 1959

Lot Details

0.28 Acres

Listing Details

  • Assessments: No
  • Property Attached: Yes
  • Security: Gated Community
  • View: Yes
  • Water Sewer Expenses: 4560.00
  • Property Type: Residential Income
  • Gardener Expense: 2100.00
  • Parcel Number: 42216304
  • Year Built: 1959
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Fireplace: No
  • Stories: 2
  • Common Walls: 2+ Common Walls
  • Entry Level: 2
  • Levels: Two
  • Price Per Square Foot: 469.00

Exterior Features

  • View: City Lights, Golf Course
  • Pool Private: No

Garage/Parking

  • Parking: Yes
  • Parking Features: Assigned

Utilities

  • Heating: Yes
  • Laundry: Yes
  • Heating Type: Wall Furnace
  • Laundry Features: Individual Room
  • Sewer: Public Sewer
  • Trash Expense: 1573.20
  • Water Source: Public

Condo/Co-op/Association

  • Senior Community: No
  • Common Interest: Community Apartment
  • Community Features: Curbs, Golf, Sidewalks

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: 6-10 Units/Acre, Front Yard, Level with Street
  • Lot Size Sq Ft: 12196.00
  • Lot Size Acres: 0.2800

Rental Info

  • Tenant Pays: Cable TV, Electricity

Multi Family

  • Average2 Bed Area: 795 Square Feet
  • Electric Expense: 600.00
  • Fuel Expense: 840.00
  • Garage Income: 1500.00
  • Gross Income: 178239.00
  • Gross Scheduled Income: 178239.00
  • Insurance Expense: 2878.00
  • Laundry Equipment Own Lease: Own
  • Laundry Income: 939.00
  • Lot Size Area: 12196.0000 Square Feet
  • Maintenance Expense: 3000.00
  • Net Operating Income: 141408.00
  • Number Of Rented Garages: 2
  • Number Of Separate Electric Meters: 8
  • Number Of Separate Gas Meters: 8
  • Number Of Separate Water Meters: 2
  • Number Of Units Leased: 8
  • Number Of Units Total: 8
  • Number With Dishwasher: 8
  • Number With Disposal: 8
  • Number With Range: 8
  • Number With Refrigerator: 7
  • Operating Expense: 36831.00
  • Other Expense: 190.08
  • Other Expense Description: fire ext
  • Other Income Description: could rent out storage unit
  • Rent Control: No
  • Total Actual Rent: 14450.00
  • Total Expenses: 36831.00

Tax Info

  • New Taxes Expense: 21090.00
  • Tax Lot: 11
  • Tax Tract Number: 2327

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
Mar 5, 2021
Closed on
Mar 31, 2021
Sold by
Bought by
Seller's Agent
Jill Daley-Burnett
Regency Real Estate Brokers
Buyer's Agent
Aneeta Kumar
Keller Williams Realty
List Price
$2,999,000
Sold Price
$2,980,000
Premium/Discount to List
-$19,000
-0.63%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$1,117,500
Interest Rate
0.031%
Mortgage Type
New Conventional

Purchase Details

Closed on
Apr 1, 2019
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
$1,125,000
Interest Rate
0.042%
Mortgage Type
New Conventional

Purchase Details

Closed on
May 20, 2016
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
$790,000
Interest Rate
0.0359%
Mortgage Type
New Conventional

Purchase Details

Closed on
Jan 16, 2015
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
$801,950
Interest Rate
0.0387%
Mortgage Type
New Conventional

Purchase Details

Closed on
Jul 24, 2014
Sold by
Bought by

Purchase Details

Closed on
Feb 11, 2014
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
$2,000,000
Interest Rate
0.0434%
Mortgage Type
Credit Line Revolving

Purchase Details

Closed on
Jan 28, 2014
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
$2,000,000
Interest Rate
0.0434%
Mortgage Type
Credit Line Revolving

Purchase Details

Closed on
Jan 11, 2008
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
$617,500
Interest Rate
0.0605%
Mortgage Type
New Conventional
Source: Public Records
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Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

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
$1,490,000 Orange Coast Title
$1,500,000 First American Title Company
-- First American Title Company
-- First American Title Company
-- None Available
-- First American Title Company
-- Accommodation
-- None Available
-- Equity Title Orange County-I
$825,000 Equity Title Orange County-I
-- Lawyers Title
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 $1,113,500
Closed $1,117,500
Closed $1,117,500
Closed $1,117,500
Previous Owner $1,125,000
Previous Owner $1,125,000
Previous Owner $790,000
Previous Owner $801,950
Previous Owner $2,000,000
Previous Owner $600,000
Previous Owner $617,500
Previous Owner $580,000
Previous Owner $275,000
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
04/30/2021 04/30/21 Sold $2,980,000 -0.6% $469 / Sq Ft
03/16/2021 03/16/21 For Sale $2,999,000 +0.6% $472 / Sq Ft
03/15/2021 03/15/21 Off Market $2,980,000 -- --
03/05/2021 03/05/21 For Sale $3,000,000 0.0% $472 / Sq Ft
01/29/2021 01/29/21 Rented $1,800 -5.3% --
01/16/2021 01/16/21 Under Contract -- -- --
01/09/2021 01/09/21 Price Changed $1,900 +5.6% $2 / Sq Ft
01/02/2021 01/02/21 For Rent $1,800 0.0% --
12/18/2020 12/18/20 Off Market $1,800 -- --
12/10/2020 12/10/20 Price Changed $1,800 -5.3% $2 / Sq Ft
11/22/2020 11/22/20 For Rent $1,900 +5.6% --
06/07/2020 06/07/20 Rented $1,800 0.0% --
05/17/2020 05/17/20 Under Contract -- -- --
04/20/2020 04/20/20 For Rent $1,800 0.0% --
04/10/2020 04/10/20 Under Contract -- -- --
03/30/2020 03/30/20 For Rent $1,800 0.0% --
01/22/2020 01/22/20 Rented $1,800 0.0% --
12/13/2019 12/13/19 Under Contract -- -- --
12/02/2019 12/02/19 For Rent $1,800 -5.3% --
06/04/2019 06/04/19 Rented $1,900 -5.0% --
05/10/2019 05/10/19 Price Changed $2,000 -7.0% $2 / Sq Ft
05/04/2019 05/04/19 For Rent $2,150 +22.9% --
04/04/2018 04/04/18 Rented $1,750 0.0% --
02/14/2018 02/14/18 Price Changed $1,750 -2.8% $2 / Sq Ft
02/05/2018 02/05/18 Price Changed $1,800 -5.3% $2 / Sq Ft
01/17/2018 01/17/18 Price Changed $1,900 -5.0% $2 / Sq Ft
01/11/2018 01/11/18 Price Changed $2,000 -4.8% $2 / Sq Ft
01/09/2018 01/09/18 Price Changed $2,100 -4.5% $2 / Sq Ft
01/01/2018 01/01/18 For Rent $2,200 -- --
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 $18,330 $1,612,822 $1,407,161 $205,661
2024 $18,330 $1,581,199 $1,379,570 $201,629
2023 $17,846 $1,550,196 $1,352,520 $197,676
2022 $17,374 $1,519,800 $1,326,000 $193,800
2021 $17,476 $1,545,850 $1,456,480 $89,370
2020 $17,309 $1,530,000 $1,441,546 $88,454
2019 $10,545 $888,846 $809,040 $79,806
2018 $10,346 $871,418 $793,176 $78,242
2017 $10,171 $854,332 $777,624 $76,708
2016 $9,951 $837,581 $762,377 $75,204
2015 $9,850 $825,000 $750,925 $74,075
2014 $4,432 $315,187 $224,375 $90,812
Source: Public Records

Agents Affiliated with this Home

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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: OC21044571

California Regional Multiple Listing Service (CRMLS)

APN: 422-163-04

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