Seller's Agent in 2024
Justin White
Justin White
(714) 231-2537
1 in this area
46 Total Sales
631 Shalimar Dr Costa Mesa, CA 92627
Downtown Costa Mesa Neighborhood
4
Beds
4
Baths
3,038
Sq Ft
6,024
Sq Ft Lot
About This Home
As of April 2024Coastal apartments have long been a favored choice among real estate investors due to their promising appreciation rates and strong
rental income potential. In this regard, Costa Mesa has emerged as an increasingly attractive option, propelled by factors such as
gentrification, substantial growth, the general appeal of renting among young professionals, and its proximity to the thriving real estate
markets of Newport Beach and Huntington Beach.
The subject property is less than a quarter mile to Eastside Costa Mesa, the bustling retail hub on 17th Street, and the 55 freeway.
Additionally, the property is located approximately 1.25 miles from the Pacific Coast Highway (PCH). There are four large sized 1-bedroom 1-
bath units in well-maintained condition. Among the appealing aspects of this property is its adjacency to a variety of retail establishments,
including PetSmart, Trader Joe's, O'Reilly's Auto Parts, and Walgreens, thereby enriching the overall quality of life needed for its 1-bedoom
renting tenants.
Considering its prime location, substantial rental growth potential, and the prospect of securing excellent tenants, this property stands as a
valuable addition to an investor's expanding portfolio or as an ideal starting point for someone entering the real estate market.
Last Agent to Sell the Property
Justin White Brokerage Email: thesbgbp@gmail.com License #01267826 Listed on: 03/08/2024
Property Details
Home Type
- Multi-Family
Year Built
- Built in 1957
Lot Details
- 6,023 Sq Ft Lot
- Two or More Common Walls
- Back and Front Yard
- Density is 2-5 Units/Acre
Parking
- 4 Car Garage
- Parking Available
- Single Garage Door
Home Design
- Property Attached
- Entry on the 1st floor
Interior Spaces
- 3,038 Sq Ft Home
- 2-Story Property
Bedrooms and Bathrooms
- 4 Bedrooms
- 4 Bathrooms
Utilities
- Sewer Not Available
Community Details
Overview
- 4 Units
Building Details
- 4 Separate Electric Meters
- 4 Separate Gas Meters
- Gardener Expense $1,440
- Insurance Expense $4,000
- Other Expense $5,850
- Professional Management Expense $4,530
- Water Sewer Expense $2,500
- New Taxes Expense $16,772
- Operating Expense $35,093
- Gross Income $90,600
- Net Operating Income $52,789
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Home Values in the Area
Average Home Value in this Area
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft |
|---|---|---|---|---|
| 04/29/2024 04/29/24 | Sold | $1,600,000 | 0.0% | $527 / Sq Ft |
| 03/08/2024 03/08/24 | For Sale | $1,600,000 | -- | $527 / 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 | $8,729 | $1,632,000 | $1,494,884 | $137,116 |
| 2024 | $8,729 | $527,378 | $401,336 | $126,042 |
| 2023 | $8,304 | $517,038 | $393,467 | $123,571 |
| 2022 | $7,862 | $506,900 | $385,751 | $121,149 |
| 2021 | $7,470 | $496,961 | $378,187 | $118,774 |
| 2020 | $7,341 | $491,866 | $374,309 | $117,557 |
| 2019 | $7,170 | $482,222 | $366,970 | $115,252 |
| 2018 | $7,021 | $472,767 | $359,774 | $112,993 |
| 2017 | $6,920 | $463,498 | $352,720 | $110,778 |
| 2016 | $6,794 | $454,410 | $345,804 | $108,606 |
| 2015 | $6,730 | $447,585 | $340,610 | $106,975 |
| 2014 | $6,595 | $438,818 | $333,938 | $104,880 |
Source: Public Records
Agents Affiliated with this Home
-
Justin White
-
Christopher Phipps
Buyer's Agent in 2024
Christopher Phipps
Fleur De Lis Properties, Inc.
(714) 206-1479
2 in this area
101 Total Sales
Map
Source: California Regional Multiple Listing Service (CRMLS)
MLS Number: PW24047406
APN: 424-263-09
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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