NOT LISTED FOR SALE
4 Beds
3 Baths
5,730 Sq Ft
13,504 Sq Ft Lot

Last Sold April 30, 2013

Last sale price $1,650,000 $288 Per Sq Ft

45 Days on Market

About This Home

As of April 2013

Great Investment! Upside potential, 9 Unit apartment complex located close to Pacific Coast Highway, Triangle Square, cross street is Newport Ave., near beaches, parks, shopping & convenient to transportations. High rental demand area, Fully occupied. All units recently Updated/Renovated, all with DUAL PANE WINDOWS, NEWER ROOFS. Consists of 3 separate buildings. The Front building housed first unit, a 2 level, with 3BD/2BA, kitchen w/ granite counters, beautiful wood cabinets, pantry and plenty of storage. Also has own gated front yard. Ideal for owner/landlord. Back 2 separate buildings, each 2 levels with 8 units, 4 units in each building, all 1BD/1BA units. Also has laundry facility on premise for tenants' convenience and additional income for landlord. Please do not disturb occupants.

Last Agent to Sell the Property

Tommy Thai

T2 Realty License #01082910 Listed on: 01/29/2013

Last Buyer's Agent

Fera Rezaee

Douglas Elliman Of California License #01916299

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1964

Lot Details

  • 0.31 Acre Lot
  • No Common Walls

Parking

  • 14 Parking Spaces

Home Design

  • 5,730 Sq Ft Home

Bedrooms and Bathrooms

  • 4 Bedrooms
  • 3 Bathrooms

Additional Features

  • Leased Washer and Dryer
  • Exterior Lighting

Listing and Financial Details

  • Tenant pays for electricity, gas
  • Tax Lot 604
  • Assessor Parcel Number 42417411

Community Details

Overview

  • No Home Owners Association
  • 3 Buildings
  • 9 Units

Building Details

  • 9 Leased Units
  • 10 Separate Electric Meters
  • 10 Separate Gas Meters
  • 1 Separate Water Meter
  • Gross Income $10,248
  • Net Operating Income $90,931

Property Details

Home Type

Multi-Family

Year Built

Built in 1964

Lot Details

0.31 Acres

Listing Details

  • CapRate: 5.38
  • Property Attached: No
  • Subdivision Name Other: Costa Mesa
  • Property Type: Residential Income
  • Parcel Number: 42417411
  • Year Built: 1964
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Common Walls: No Common Walls
  • Levels: Two
  • Price Per Square Foot: 287.96

Exterior Features

  • Pool Private: No

Garage/Parking

  • Total Parking Spaces: 14.00

Utilities

  • Utilities: Sewer Connected
  • Water Source: Public

Condo/Co-op/Association

  • Association: No
  • Community Features: Sidewalks, Street Lights

Lot Info

  • Lot Features: Lot 10000-19999 Sqft
  • Lot Size Sq Ft: 13500.00
  • Lot Size Acres: 0.3100

Rental Info

  • Tenant Pays: Electricity, Gas

Multi Family

  • Gross Income: 10248.00
  • Gross Multiplier: 13.70
  • Gross Scheduled Income: 122976.00
  • Laundry Equipment Own Lease: Lease
  • Lot Size Area: 13500.0000 Square Feet
  • Net Operating Income: 90931.00
  • Number Of Separate Electric Meters: 10
  • Number Of Separate Gas Meters: 10
  • Number Of Separate Water Meters: 1
  • Number Of Units Leased: 9
  • Number Of Units Total: 9
  • Operating Expense: 28392.00
  • Rent Control: No
  • Total Actual Rent: 10150.00

Tax Info

  • Tax Lot: 604
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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
04/30/2013 04/30/13 Sold $1,650,000 -7.3% $288 / Sq Ft
03/15/2013 03/15/13 Pending -- -- --
01/29/2013 01/29/13 For Sale $1,780,000 -- $311 / 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 $25,801 $2,107,202 $1,398,396 $708,806
2024 $25,801 $2,065,885 $1,370,977 $694,908
2023 $25,013 $2,025,378 $1,344,095 $681,283
2022 $24,069 $1,985,665 $1,317,740 $667,925
2021 $23,185 $1,946,731 $1,291,902 $654,829
2020 $22,964 $1,926,770 $1,278,655 $648,115
2019 $22,537 $1,888,991 $1,253,584 $635,407
2018 $22,113 $1,851,952 $1,229,003 $622,949
2017 $21,739 $1,815,640 $1,204,905 $610,735
2016 $21,271 $1,780,040 $1,181,280 $598,760
2015 $21,053 $1,753,303 $1,163,536 $589,767
2014 $19,918 $1,657,491 $1,104,994 $552,497
Source: Public Records

Agents Affiliated with this Home

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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: AR13011563

California Regional Multiple Listing Service (CRMLS)
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