Seller's Agent in 2024
Nick Gould
Gould Group Inc
(925) 998-1315
22 Total Sales
985 Valencia St Costa Mesa, CA 92626
Costa Mesa Area
6
Beds
7
Baths
4,062
Sq Ft
6,534
Sq Ft Lot
Highlights
- No HOA
- Bike Trail
- Wall Furnace
- Costa Mesa High School Rated A-
- Wood Fence
About This Home
As of March 2024Welcome to 985 Valencia Street four-unit apartment community, built in 1964, it is comprised of a fantastic unit mix of (1) 3- Bedroom/2.5-Bathroom unit, (1) 2-Bedroom/1.5-Bathroom Townhouse unit, (1) 1-Bedroom/1-Bathroom unit, and (1) Studio unit. All units have been completely renovated over the last four years with tenants paying near-market rents. Tenants can access a lush community courtyard and (6) single-car garages. There is also a
community laundry room for tenants to use. This is the perfect asset for an investor looking for a turnkey property with a solid rental income.
The property's strategic location ensures easy accessibility to the best of Costa Mesa, including renowned destinations such as South Coast Plaza, The Camp, The LAB, and the Harbor Blvd shopping corridor. Additionally, tenants enjoy seamless connectivity with quick access to major freeways, including the 405, 55, and 73 Freeways. This property not only promises a secure investment but also positions itself as an inviting residential haven at the heart of Costa Mesa's vibrant offerings.
Property Details
Home Type
- Multi-Family
Year Built
- Built in 1964
Lot Details
- 6,534 Sq Ft Lot
- Property fronts an alley
- Two or More Common Walls
- Wood Fence
- Density is 2-5 Units/Acre
Parking
- 1 Open Parking Space
- 6 Car Garage
- Parking Available
- Assigned Parking
Home Design
- Quadruplex
- Entry on the 2nd floor
Interior Spaces
- 4,062 Sq Ft Home
- 2-Story Property
- Laundry in unit
Bedrooms and Bathrooms
- 6 Bedrooms
- 7 Bathrooms
Additional Features
- Exterior Lighting
- Wall Furnace
Listing and Financial Details
- Tenant pays for cable TV, electricity, gas
- Tax Lot 40
- Tax Tract Number 5011
- Assessor Parcel Number 14166519
- $1,726 per year additional tax assessments
Community Details
Overview
- No Home Owners Association
- 4 Units
Amenities
- Laundry Facilities
Recreation
- Bike Trail
Building Details
- 4 Leased Units
- Rent Control
- 4 Separate Electric Meters
- 4 Separate Gas Meters
- 1 Separate Water Meter
- Electric Expense $1,500
- Fuel Expense $1,500
- Gardener Expense $1,830
- Insurance Expense $2,500
- Maintenance Expense $6,313
- Trash Expense $1,500
- Water Sewer Expense $1,645
- New Taxes Expense $23,514
- Operating Expense $40,602
- Gross Income $128,316
- Net Operating Income $83,864
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
Closed on
Nov 7, 2024
Sold by
Bought by
Purchase Details
Listed on
Jan 24, 2024
Closed on
Feb 15, 2024
Sold by
Bought by
Seller's Agent
Nick Gould
Gould Group Inc
Buyer's Agent
Ramsey Oliveras
Estate Properties
List Price
$2,099,000
Sold Price
$1,936,000
Premium/Discount to List
-$163,000
-7.77%
Views
20
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$1,355,200
Interest Rate
0.0677%
Mortgage Type
New Conventional
Purchase Details
Closed on
May 28, 2021
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
$31,620,000
Interest Rate
0.029%
Mortgage Type
New Conventional
Purchase Details
Closed on
Sep 9, 2019
Sold by
Bought by
Purchase Details
Closed on
Mar 17, 2006
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
$750,000
Interest Rate
0.06%
Mortgage Type
Purchase Money Mortgage
Purchase Details
Closed on
Feb 4, 2000
Sold by
Bought by
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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 |
|---|---|---|---|
| -- | None Listed On Document | ||
| $1,936,000 | Chicago Title Company | ||
| $14,325,000 | Chicago Title | ||
| -- | None Available | ||
| -- | Chicago Title Co | ||
| -- | Orange Coast 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 |
|---|---|---|---|
| Previous Owner | $1,355,200 | ||
| Previous Owner | $12,000,000 | ||
| Previous Owner | $31,620,000 | ||
| Previous Owner | $677,000 | ||
| Previous Owner | $750,000 |
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 |
|---|---|---|---|---|
| 03/28/2024 03/28/24 | Sold | $1,936,000 | -7.8% | $477 / Sq Ft |
| 02/01/2024 02/01/24 | Pending | -- | -- | -- |
| 01/24/2024 01/24/24 | For Sale | $2,099,000 | -- | $517 / 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 |
|---|---|---|---|---|
| 2025 | $20,287 | $1,974,720 | $1,799,443 | $175,277 |
| 2024 | $20,287 | $1,750,993 | $1,538,752 | $212,241 |
| 2023 | $19,721 | $1,716,660 | $1,508,580 | $208,080 |
| 2022 | $19,139 | $1,683,000 | $1,479,000 | $204,000 |
| 2021 | $5,548 | $412,308 | $237,365 | $174,943 |
| 2020 | $5,495 | $408,081 | $234,931 | $173,150 |
| 2019 | $5,405 | $400,080 | $230,325 | $169,755 |
| 2018 | $5,309 | $392,236 | $225,809 | $166,427 |
| 2017 | $5,223 | $384,546 | $221,382 | $163,164 |
| 2016 | $5,116 | $377,006 | $217,041 | $159,965 |
| 2015 | $5,060 | $371,344 | $213,781 | $157,563 |
| 2014 | $4,944 | $364,070 | $209,593 | $154,477 |
Source: Public Records
Agents Affiliated with this Home
-
Nick Gould
-
Ramsey Oliveras
Buyer's Agent in 2024
Ramsey Oliveras
RE/MAX
(310) 378-5533
21 Total Sales
Map
Source: California Regional Multiple Listing Service (CRMLS)
MLS Number: NP24014850
APN: 141-665-19
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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