NOT LISTED FOR SALE
11 Beds
9 Baths
7,430 Sq Ft
20,011 Sq Ft Lot

Last Sold December 01, 2023

Last sale price $4,525,000 $609 Per Sq Ft

46 Days on Market

Highlights

  • 0.46 Acre Lot
  • Laundry Room
  • Paved or Partially Paved Lot

About This Home

As of December 2023

The Hamilton is a Trophy 8 Unit Apartment complex located in the heart of Costa Mesa, on a 20,012 Sq. Ft. Lot! This asset consists of: (2) 3Bed / 2Bath, (4) 2Bed / 2Bath, (1) 2Bed / 2Bath House (Built 2023), and (1) 1Bed / 1Bath House (Built 2023). Amenities include; Large Upgraded or New Units, Ample Parking (Carport and Open), Washer / Dryer Hookups, a Solar EV Charge Outlet and Spacious Patios & Balconies throughout. The buildings also benefit from newer construction (75% built in 1978, & 25% built in 2023), as well as its prime location; less than 1 mile from Triangle Square, and 2 Miles to the Sand! Additionally, the current owner has spent over $900,000+ in the past 4 Years converting this unique asset into a Turn-Key / low maintenance property. Please drive by only, and do not disturb the tenants.

Last Agent to Sell the Property

Pat Swanson

Pat Swanson License #01382974 Listed on: 09/14/2023

Last Buyer's Agent

Pat Swanson

Pat Swanson License #01382974 Listed on: 09/14/2023

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1978

Lot Details

  • 0.46 Acre Lot
  • Two or More Common Walls
  • Paved or Partially Paved Lot

Home Design

  • Property Attached
  • Entry on the 1st floor

Interior Spaces

  • 7,430 Sq Ft Home
  • 2-Story Property
  • Laundry Room

Bedrooms and Bathrooms

  • 11 Bedrooms
  • 9 Bathrooms

Parking

  • 9 Open Parking Spaces
  • 15 Parking Spaces
  • 6 Carport Spaces

Listing and Financial Details

  • Tax Lot 39
  • Tax Tract Number 9
  • Assessor Parcel Number 42221120
  • $2,013 per year additional tax assessments

Community Details

Overview

  • 2 Buildings
  • 8 Units

Building Details

  • 9 Separate Electric Meters
  • 9 Separate Gas Meters
  • 1 Separate Water Meter
  • Electric Expense $450
  • Fuel Expense $432
  • Insurance Expense $3,273
  • Trash Expense $4,648
  • Water Sewer Expense $2,316
  • Operating Expense $79,344
  • Gross Income $261,143
  • Net Operating Income $190,799

Property Details

Home Type

Multi-Family

Year Built

Built in 1978

Lot Details

0.46 Acres

Listing Details

  • Property Attached: Yes
  • Water Sewer Expenses: 2316.00
  • Zoning: R2
  • Property Sub Type: Commercial/Residential
  • Property Type: Residential Income
  • Parcel Number: 42221120
  • Year Built: 1978
  • Special Features: None

Interior Features

  • Stories: 2
  • Common Walls: 2+ Common Walls
  • Entry Level: 1
  • Levels: Two
  • Price Per Square Foot: 609.02

Exterior Features

  • Pool Private: No

Garage/Parking

  • Carport Spaces: 6.00
  • Total Parking Spaces: 15.00
  • Uncovered Spaces: 9.00

Utilities

  • Laundry: Yes
  • Laundry Features: Inside
  • Sewer: Public Sewer
  • Trash Expense: 4648.00
  • Water Source: Public

Condo/Co-op/Association

  • Senior Community: No
  • Community Features: Sidewalks

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: Paved
  • Lot Size Sq Ft: 20012.00
  • Lot Size Acres: 0.4594

Multi Family

  • Electric Expense: 450.00
  • Fuel Expense: 432.00
  • Gross Income: 261143.00
  • Gross Scheduled Income: 269220.00
  • Insurance Expense: 3273.00
  • Lot Size Area: 20012.0000 Square Feet
  • Net Operating Income: 190799.00
  • Number Of Separate Electric Meters: 9
  • Number Of Separate Gas Meters: 9
  • Number Of Separate Water Meters: 1
  • Number Of Units Total: 8
  • Operating Expense: 70344.00
  • Rent Control: No
  • Total Expenses: 79344.00

Tax Info

  • Tax Census Tract: 637.01
  • Tax Lot: 39
  • Tax Tract Number: 9
  • TaxOtherAnnualAssessmentAmount: 2013.00
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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
12/01/2023 12/01/23 Sold $4,525,000 -3.7% $609 / Sq Ft
09/14/2023 09/14/23 For Sale $4,700,000 -- $633 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

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 $50,534 $4,615,500 $3,995,423 $620,077
2024 $50,534 $4,525,000 $3,917,081 $607,919
2023 $25,629 $2,224,817 $1,822,743 $402,074
2022 $24,953 $2,181,194 $1,787,003 $394,191
2021 $24,307 $2,138,426 $1,751,964 $386,462
2020 $24,075 $2,116,500 $1,734,000 $382,500
2019 $7,856 $576,852 $206,024 $370,828
2018 $7,717 $565,542 $201,985 $363,557
2017 $7,592 $554,453 $198,024 $356,429
2016 $7,437 $543,582 $194,141 $349,441
2015 $7,354 $535,417 $191,224 $344,193
2014 $7,186 $524,929 $187,478 $337,451
Source: Public Records

Agents Affiliated with this Home

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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: OC23171405

California Regional Multiple Listing Service (CRMLS)
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