NOT LISTED FOR SALE

862 Center St Costa Mesa, CA 92627

Westside Costa Mesa Neighborhood
3 Beds
1 Bath
8,400 Sq Ft
0.3 Acres

Last Sold January 25, 2018

Last sale price $3,850,000 $458 Per Sq Ft

12 Days on Market

Highlights

  • Laundry Room
  • Landscaped
  • 1-Story Property
  • Horace Ensign Intermediate School Rated A

About This Home

As of January 2018

862 & 868 Center Street is a two 4-unit multifamily investment properties located in the city of Costa Mesa, California. Residents enjoy the property’s close proximity to major retail centers, schools, parks and major thoroughways. Situated on two, adjacent lots measuring a combined 0.30 acres, the 8,400 square foot property consists of three-bedroom townhome floor plans with an attractive range of amenities including carport parking, on-site laundry, and private backyards. Due to the separate parcels, these properties can be purchased utilizing either conventional/30-year FHA or traditional commercial financing methods.

Last Agent to Sell the Property

Tyler Leeson

Marcus & Millichap RE Invest License #01451551 Listed on: 12/06/2017

Co-Listed By

Kurt Hediger

Marcus & Millichap RE Invest License #01846649

Last Buyer's Agent

Elizabeth Do

Keller Williams Realty License #01473012

Keller Williams Realty

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1963

Lot Details

  • 0.3 Acre Lot
  • No Common Walls
  • Landscaped
  • 424-191-22

Interior Spaces

  • 8,400 Sq Ft Home
  • 1-Story Property
  • Laundry Room

Bedrooms and Bathrooms

  • 3 Bedrooms
  • 1 Bathroom

Parking

  • 8 Parking Spaces
  • 8 Carport Spaces

Listing and Financial Details

  • Tax Lot 902
  • Tax Tract Number 517
  • Assessor Parcel Number 42419123

Community Details

Overview

  • 2 Buildings
  • 8 Units

Amenities

  • Laundry Facilities

Building Details

  • 8 Leased Units
  • 8 Separate Electric Meters
  • 8 Separate Gas Meters
  • Electric Expense $2,247
  • Fuel Expense $2,247
  • Insurance Expense $2,400
  • Maintenance Expense $4,000
  • Other Expense $2,600
  • Trash Expense $2,247
  • Water Sewer Expense $2,247
  • New Taxes Expense $46,538
  • Operating Expense $64,526
  • Gross Income $244,440
  • Net Operating Income $172,909

Property Details

Home Type

Multi-Family

Year Built

Built in 1963

Lot Details

0

Listing Details

  • Property Attached: No
  • Subdivision Name Other: NEWPORT MESA TRACT
  • Water Sewer Expenses: 2247.00
  • Property Type: Residential Income
  • Parcel Number: 42419123
  • Year Built: 1963
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Stories: 1
  • Common Walls: No Common Walls
  • Levels: One
  • Price Per Square Foot: 458.33

Exterior Features

  • Pool Private: No

Garage/Parking

  • Carport Spaces: 8.00
  • Total Parking Spaces: 8.00

Utilities

  • Laundry: Yes
  • Laundry Features: Community
  • Sewer: Public Sewer
  • Trash Expense: 2247.00
  • Water Source: Public

Condo/Co-op/Association

  • Senior Community: No
  • Community Features: Sidewalks

Lot Info

  • Additional Parcels: Yes
  • Additional Parcels Description: 424-191-22
  • Land Lease: No
  • Lot Features: Landscaped
  • Lot Size Sq Ft: 13068.00
  • Lot Size Acres: 0.3000

Multi Family

  • Electric Expense: 2247.00
  • Fuel Expense: 2247.00
  • Gross Income: 244440.00
  • Gross Operating Income: 237434.00
  • Gross Scheduled Income: 244440.00
  • Insurance Expense: 2400.00
  • Lot Size Area: 0.3000 Acres
  • Maintenance Expense: 4000.00
  • Net Operating Income: 172909.00
  • Number Of Separate Electric Meters: 8
  • Number Of Separate Gas Meters: 8
  • Number Of Units Leased: 8
  • Number Of Units Total: 8
  • Operating Expense: 64526.00
  • Other Expense: 2600.00
  • Rent Control: No
  • Total Actual Rent: 19460.00
  • Total Expenses: 64526.00
  • Vacancy Allowance Rate: 3.00

Tax Info

  • New Taxes Expense: 46538.00
  • Tax Census Tract: 636.04
  • Tax Lot: 902
  • Tax Tract Number: 517

Range of Values:

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Sold Price
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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 Change Sq Ft Price
01/25/2018 01/25/18 Sold $3,850,000 -8.3% $458 / Sq Ft
12/18/2017 12/18/17 Pending -- -- --
12/06/2017 12/06/17 For Sale $4,200,000 +43.8% $500 / Sq Ft
03/24/2017 03/24/17 Sold $2,920,000 -2.7% $348 / Sq Ft
01/12/2017 01/12/17 Pending -- -- --
12/13/2016 12/13/16 For Sale $3,000,000 +36.4% $357 / Sq Ft
03/31/2014 03/31/14 Sold $2,200,000 -8.3% $262 / Sq Ft
11/20/2013 11/20/13 For Sale $2,400,000 -- $286 / Sq Ft
01/20/2013 01/20/13 Pending -- -- --
Source: California Regional Multiple Listing Service (CRMLS)

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • Tyler Leeson

    Seller's Agent in 2018

    Tyler Leeson

    Marcus & Millichap RE Invest

    (949) 419-3200

    1 in this area

    144 Total Sales

    Tyler Leeson
    Section Image

  • K

    Seller Co-Listing Agent in 2018

    Kurt Hediger

    Marcus & Millichap RE Invest

    Section Image
  • Elizabeth Do

    Buyer's Agent in 2018

    Elizabeth Do

    Keller Williams Realty

    (714) 317-7243

    2 in this area

    727 Total Sales

    Elizabeth Do
    Section Image
  • Ryan Edwards

    Buyer Co-Listing Agent in 2018

    Ryan Edwards

    Keller Williams Realty

    (714) 336-5234

    96 Total Sales

    Ryan Edwards
    Section Image
  • Gary Tolfa

    Seller's Agent in 2014

    Gary Tolfa

    Triqor Group

    (949) 756-3232

    19 Total Sales

    Gary Tolfa
    Section Image

  • J

    Buyer Co-Listing Agent in 2014

    Jason Harris

    Jason Robert Harris, Broker

    Section Image
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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: OC17270821

California Regional Multiple Listing Service (CRMLS)

APN: 424-191-23

California Orange County Costa Mesa 92627 Westside Costa Mesa

862 Center St, Costa Mesa, CA

This home is located at 862 Center St, Costa Mesa, CA 92627 since 06 December 2017. This property was built in 1963. 862 Center St is a home located in Orange County with nearby schools including Whittier Elementary School, Horace Ensign Intermediate School, and Newport Harbor High School.

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.

California Regional Multiple Listing Service (CRMLS) 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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