Rob Brandon
JohnHart Real Estate
(949) 751-1335
53 Total Sales
1 in Downtown Costa Mesa
$1,710,000 Price
631 Shalimar Dr Costa Mesa, CA 92627
Downtown Costa Mesa Neighborhood
4
Beds
4
Baths
3,038
Sq Ft
6,023
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
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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
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 8, 2024
Closed on
Apr 2, 2024
Sold by
Bought by
Seller's Agent
Justin White
Justin White
Buyer's Agent
Christopher Phipps
Fleur De Lis Properties, Inc.
List Price
$1,600,000
Sold Price
$1,600,000
Views
80
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$1,280,000
Interest Rate
6.74%
Mortgage Type
New Conventional
Purchase Details
Closed on
Jan 28, 2005
Sold by
Bought by
Purchase Details
Closed on
Apr 19, 2004
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
$370,000
Interest Rate
5.35%
Mortgage Type
New Conventional
Purchase Details
Closed on
Mar 19, 2002
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
$326,400
Interest Rate
6.84%
Mortgage Type
Purchase Money Mortgage
Purchase Details
Closed on
Nov 29, 2000
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
$321,300
Interest Rate
7.12%
Mortgage Type
Purchase Money Mortgage
Purchase Details
Closed on
Nov 27, 1998
Sold by
Bought by
Home Values in the Area
Average Home Value in this Area
Agents Specializing in Downtown Costa Mesa, CA
-
Rob Brandon
-
Drew D'Angelo
Drew D'Angelo
Kase Real Estate
(949) 867-6319
76 Total Sales
4 in Downtown Costa Mesa
$1.5M - $4.7M Price Range
-
Susan Koss-Vetter
Susan Koss-Vetter
First Team Real Estate
(949) 570-5669
5 Total Sales
1 in Downtown Costa Mesa
$1,120,000 Price
-
Mark Lear
Mark Lear
WERE Real Estate Inc
(657) 223-8121
353 Total Sales
2 in Downtown Costa Mesa
$1,065,000 Price Range
-
Drew Teicheira
Drew Teicheira
Harcourts Place
(877) 672-0775
92 Total Sales
2 in Downtown Costa Mesa
$1.3M - $1.9M Price Range
-
Sophia Tran
Sophia Tran
Cali Real Estate, Inc.
(657) 306-5396
25 Total Sales
1 in Downtown Costa Mesa
$975,000 Price
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 |
|---|---|---|---|
| $1,600,000 | Ticor Title Company | ||
| -- | -- | ||
| -- | Equity Title Company | ||
| -- | Equity Title Company | ||
| -- | Equity Title Company | ||
| $357,000 | Chicago 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 | $1,262,500 | ||
| Closed | $1,280,000 | ||
| Previous Owner | $515,000 | ||
| Previous Owner | $424,000 | ||
| Previous Owner | $394,000 | ||
| Previous Owner | $370,000 | ||
| Previous Owner | $326,400 | ||
| Previous Owner | $321,300 |
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 |
|---|---|---|---|---|
| 04/29/2024 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
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 | $20,445 | $1,664,640 | $1,524,782 | $139,858 |
| 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
Seller's Agent in 2024
Justin White
Justin White
(714) 231-2537
1 in this area
38 Total Sales
-
Christopher Phipps
Buyer's Agent in 2024
Christopher Phipps
Fleur De Lis Properties, Inc.
(714) 206-1479
2 in this area
94 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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