NOT LISTED FOR SALE
11 Beds
9 Baths
7,430 Sq Ft
0.46 Acre Lot

Sale Details

Date Sold: December 1, 2023

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

46 Days on Market

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

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Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1978

Lot Details

  • 20,012 Sq Ft 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 in unit

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

Amenities

  • Laundry Facilities

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

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
Sep 14, 2023
Closed on
Nov 20, 2023
Sold by
Bought by
Seller's Agent
Pat Swanson
Pat Swanson
Buyer's Agent
Pat Swanson
Pat Swanson
List Price
$4,700,000
Sold Price
$4,525,000
Premium/Discount to List
-$175,000
-3.72%
Views
48

Purchase Details

Closed on
Apr 15, 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
$1,075,000
Interest Rate
4.4%
Mortgage Type
Construction

Purchase Details

Closed on
Mar 7, 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
$1,075,000
Interest Rate
4.4%
Mortgage Type
Construction

Purchase Details

Closed on
Feb 13, 2019
Sold by
Bought by

Purchase Details

Closed on
Dec 14, 2017
Sold by
Bought by

Purchase Details

Closed on
Dec 8, 2017
Sold by
Bought by

Purchase Details

Closed on
Dec 7, 2017
Sold by
Bought by

Purchase Details

Closed on
Jul 8, 1997
Sold by
Bought by

Purchase Details

Closed on
May 29, 1997
Sold by
Bought by
Source: Public Records

Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

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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
$4,525,000 Chicago Title Company
$2,075,000 Lawyers Title La
-- None Available
-- None Available
-- None Available
-- None Available
-- None Available
-- None Available
-- First American Title
-- First American Title
-- First American Title
$403,000 First American Title Ins Co
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
Previous Owner $1,075,000
Previous Owner $755,000
Previous Owner $500,000
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
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

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
2026 $51,387 $4,707,810 $4,075,332 $632,478
2025 $51,387 $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

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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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