David Feldberg
Coastal Real Estate Group
(949) 989-5690
55 Total Sales
1 in Westside Costa Mesa
$900,000 Price
735 Joann St Costa Mesa, CA 92627
Westside Costa Mesa Neighborhood
2
Beds
2
Baths
23,403
Sq Ft
0.9
Acre Lot
Highlights
- No Units Above
- Community Pool
- Forced Air Heating System
- 0.9 Acre Lot
About This Home
As of November 2018Four Seasons is a rare 23-unit multi-family, townhouse investment offering, well located in the City of Costa Mesa. Comprised entirely of large, two bedroom / one and one-half bathroom townhouse style units, each apartment features gas forced air heating, one covered parking space, one open space, washers & dryers in select units, and access to a large central courtyard with a pool. The configurations of the 4-building courtyard-style property exterior, and the large townhouse unit interiors, provide a new owner the opportunity to simply stabilize the existing revenue stream or potentially implement a comprehensive renovation program that will lead to top-market rents. The unit-count, physical attributes, and micro-location of this property will remain attractive to tenants and investors alike for many years to come. Salient Features ** Extremely High Demand Rental Location - 2.5 Miles from the Pacific Ocean **14.7 GIM and 4.2% Capitalization Rate at Market Income ** Very Rare Mid-size Property Offering on the Westside **100% - 2 Bedroom / 1.5 Bath Townhouse Units - 1,015 Square Feet Each ** Legitimate Value-Add Investment in a Very Supply Constrained Coastal Market
Last Agent to Sell the Property
William Michael Cavner, Broker License #01274709 Listed on: 08/08/2018
Last Buyer's Agent
William Michael Cavner, Broker License #01274709 Listed on: 08/08/2018
Create a Home Valuation Report for This Property
The Home Valuation Report is an in-depth analysis detailing your home's value as well as a comparison with similar homes in the area
Property Details
Home Type
- Multi-Family
Year Built
- Built in 1964
Lot Details
- 39,204 Sq Ft Lot
- No Units Above
- Two or More Common Walls
- Density is 21-25 Units/Acre
Home Design
- Property Attached
Interior Spaces
- 23,403 Sq Ft Home
- 2-Story Property
- Laundry in unit
Bedrooms and Bathrooms
- 2 Bedrooms
- 2 Bathrooms
Parking
- 20 Open Parking Spaces
- 43 Parking Spaces
- 23 Carport Spaces
Additional Features
- Exterior Lighting
- Forced Air Heating System
Listing and Financial Details
- Tax Lot 1
- Tax Tract Number 1
- Assessor Parcel Number 42237226
Community Details
Overview
- 4 Buildings
- 23 Units
Amenities
- Laundry Facilities
Recreation
- Community Pool
Building Details
- 23 Separate Electric Meters
- 23 Separate Gas Meters
- 1 Separate Water Meter
- Electric Expense $5,967
- Fuel Expense $5,967
- Gardener Expense $2,875
- Insurance Expense $8,450
- Maintenance Expense $12,650
- Other Expense $1,150
- Pool Expense $2,875
- Professional Management Expense $21,286
- Supplies Expense $11,500
- Trash Expense $5,967
- Water Sewer Expense $5,967
- New Taxes Expense $99,492
- Operating Expense $225,113
- Gross Income $548,300
- Net Operating Income $307,035
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
Aug 8, 2018
Closed on
Oct 1, 2018
Sold by
Four Seasons Apartments
Bought by
Seller's Agent
Michael Cavner
William Michael Cavner, Broker
Buyer's Agent
Michael Cavner
William Michael Cavner, Broker
List Price
$9,450,000
Sold Price
$8,380,000
Premium/Discount to List
-$1,070,000
-11.32%
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$4,500,000
Interest Rate
4.7%
Mortgage Type
Commercial
Purchase Details
Closed on
Jul 19, 2018
Sold by
Tinght Lines Holings Llc
Bought by
Four Seasons Apartment
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$4,400,000
Interest Rate
4.5%
Mortgage Type
Commercial
Purchase Details
Closed on
Jul 13, 2016
Sold by
Four Seasons Apartment
Bought by
Four Seasons Apartment and Tight Lines Holdings Llc
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$2,860,000
Interest Rate
3.6%
Mortgage Type
Commercial
Purchase Details
Closed on
Sep 26, 2002
Sold by
Iem Services Co California Usa
Bought by
Le Ann
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$70,000
Interest Rate
6.09%
Mortgage Type
Unknown
Purchase Details
Closed on
Apr 2, 2002
Sold by
Le Ann
Bought by
Le Ann and Iem Services Co California Usa
Purchase Details
Closed on
Jan 7, 2002
Sold by
Kuo Cheng Po and Kuo Chu Chih
Bought by
Phan Anthony and Phan Vanessa
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$1,855,000
Interest Rate
6.84%
Mortgage Type
Commercial
Purchase Details
Closed on
May 3, 1994
Sold by
Gersh Irwin D and Gersh Lizette
Bought by
Four Seasons Apartments
Purchase Details
Closed on
Mar 26, 1993
Sold by
Statewide Lenders Services Inc
Bought by
Gersh Rose and Gersh Irwin D
Home Values in the Area
Average Home Value in this Area
Agents Specializing in Westside Costa Mesa, CA
-
David Feldberg
-
Tyler Rogina
Tyler Rogina
Compass
(424) 417-6460
122 Total Sales
1 in Westside Costa Mesa
$1,540,000 Price
-
Gil Wenck
Gil Wenck
SolTerra Estates & Lending Inc
(657) 300-5526
34 Total Sales
1 in Westside Costa Mesa
$875,000 Price
-
Danielle Wilson
Danielle Wilson
Compass
(949) 919-5939
53 Total Sales
1 in Westside Costa Mesa
$1,525,000 Price
-
Darlene Stinson
Darlene Stinson
Responds QuicklyT.N.G. Real Estate Consultants
(949) 596-7658
52 Total Sales
4 in Westside Costa Mesa
$1,345,000 Price Range
-
Linda Corpuz
Linda Corpuz
Responds QuicklyVilla Realty Group
(562) 501-4366
33 Total Sales
1 in Westside Costa Mesa
$950,000 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 |
|---|---|---|---|
| $8,380,000 | Fidelity National Title | ||
| Four Seasons Apartment | $560,000 | Fidelity National Title Co | |
| Four Seasons Apartment | -- | Old Republic Title Company | |
| Le Ann | $80,000 | -- | |
| Le Ann | -- | -- | |
| Le Ann | -- | -- | |
| Phan Anthony | $2,650,000 | Orange Coast Title | |
| Four Seasons Apartments | $10,000 | -- | |
| Gersh Rose | $22,496,709 | Chicago Title Company |
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 | $4,708,000 | ||
| Closed | Tn Investments Properties Llc | $4,500,000 | |
| Previous Owner | Four Seasons Apartment | $4,400,000 | |
| Previous Owner | Four Seasons Apartment | $2,860,000 | |
| Previous Owner | Four Seasons Apartments | $2,800,000 | |
| Previous Owner | Four Seasons Apartments | $2,000,000 | |
| Previous Owner | Amwest Investment Corp | $70,000 | |
| Previous Owner | Phan Anthony Tung | $230,000 | |
| Previous Owner | Phan Anthony | $1,855,000 | |
| Previous Owner | Four Seasons Apartments | $1,400,000 |
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 |
|---|---|---|---|---|
| 11/15/2018 11/15/18 | Sold | $8,380,000 | -11.3% | $358 / Sq Ft |
| 08/08/2018 08/08/18 | For Sale | $9,450,000 | -- | $404 / 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 | $107,948 | $9,535,009 | $8,029,664 | $1,505,345 |
| 2025 | $107,948 | $9,348,049 | $7,872,220 | $1,475,829 |
| 2024 | $105,959 | $9,164,754 | $7,717,862 | $1,446,892 |
| 2023 | $103,185 | $8,985,053 | $7,566,531 | $1,418,522 |
| 2022 | $100,509 | $8,808,876 | $7,418,168 | $1,390,708 |
| 2021 | $97,733 | $8,636,153 | $7,272,713 | $1,363,440 |
| 2020 | $96,799 | $8,547,600 | $7,198,140 | $1,349,460 |
| 2019 | $94,906 | $8,380,000 | $7,057,000 | $1,323,000 |
| 2018 | $30,128 | $2,225,793 | $1,311,051 | $914,742 |
| 2017 | $73,258 | $6,325,000 | $5,000,000 | $1,325,000 |
| 2016 | $29,031 | $2,139,363 | $1,260,141 | $879,222 |
| 2015 | $28,711 | $2,107,228 | $1,241,212 | $866,016 |
| 2014 | $28,055 | $2,065,951 | $1,216,899 | $849,052 |
Source: Public Records
Agents Affiliated with this Home
-
Michael Cavner
MC
Seller's Agent in 2018
Michael Cavner
William Michael Cavner, Broker
(949) 419-3200
4 Total Sales
Map
Source: California Regional Multiple Listing Service (CRMLS)
MLS Number: OC18191779
APN: 422-372-26
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
Nearby Homes
- 810 Congress St
- 2171 Pomona Ave
- 870 Darrell St
- 2211 Meyer Place
- 2225 Maple St
- 681 Victoria St
- 2107 Pomona Ave
- 2111 Breakaway Ln
- 2113 Federal Ave
- 2138 Bella Ct
- 2191 Harbor Blvd Unit 75
- 2191 Harbor Blvd Unit 7
- 2191 Harbor Blvd Unit 38
- 2191 Harbor Blvd Unit 3
- 990 Trabuco Cir
- 543 Victoria St Unit M
- 783 Wonder Ln
- 2049 Monrovia Ave
- 758 W 20th St
- 2519 Cornerstone Ln Unit 1
- 734 Joann St Unit 2
- 734 Joann St
- 730 Joann St
- 754 Joann St Unit D
- 754 Joann St
- 754 Joann St Unit A
- 754 Joann St Unit C
- 754 Joann St Unit 2
- 726 Joann St
- 755 Joann St Unit E
- 755 Joann St Unit D
- 755 Joann St Unit C
- 755 Joann St Unit B
- 755 Joann St Unit A
- 755 Joann St Unit 5
- 755 Joann St Unit 3C
- 755 Joann St Unit 3
- 755 Joann St Unit F
- 740 Joann St
- 764 Joann St
Your Personal Tour Guide
Ask me questions while you tour the home.