3009 Coolidge Avenue

    Costa Mesa, CA 92626
    • $1,180,000
    • STATUS: Active
    • ON SITE: 42 days
    • ID#: NP19170834
    UPDATED: 11 min ago
    $1,180,000
    • 0
      BEDS
    • 0.15
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 3,698
      SQFT
    • $319
      $/SQFT
    Type:
    Multi-Family
    Built:
    1962
    County:

    School Ratings & Info

    Description

    Great location 3/4 mile SW of South Coast Plaza. Located 1/2 mile from Orange Coast College and less than 2 miles from John Wayne Airport. The property consists of a single building with a 1-story, 2 BR/1 BA unit in the front and two 2 BR/1.5 BA two-story townhouse-style units in the rear. Very spacious units approx. 1,063 sf, each with attached patio. The building was constructed in 1962. Each unit has an individual garage space and there are 2 additional uncovered parking spaces. Parking is accessed through a rear alley. Vinyl and plank flooring. There is an extremely strong demand for rentals in this area. There is significant upside in the current rent rates. The 2 BR/1 BA rents for $1,610 and 2 BR/1.5 BA unit rents for $1,675, on the same street are currently rented at rates as high as $1,700 and $1,850/month, respectively. Current income specified below is actual. Current expenses are estimated. Projected Scheduled Gross Income and Net Operating Expenses with renovated units at market rental rates are $59,520 and $31,208 respectively. Projected Gross Rent Multiplier is 19.2. Selling as is.

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    Based on information from California Regional Multiple Listing Service, Inc. as of 2019-09-17T21:36:36.447. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or The Houston Team | Compass CA DRE#01991628. Licensed in the State of California, USA.
    www.northsdrealty.com/homes/97614103

    3009 Coolidge Avenue Costa Mesa, CA 92626

    • Price: $1,180,000
    • Status: Active
    • Updated: 11 min ago
    • ID#: NP19170834
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.15
    Acres
    3,698
    SQFT
    $319
    $/SQFT
    1962
    Built
    Neighborhood:
    Mesa North - President Streets (Prmn)
    County:
    Orange
    Area:
    C3 - South Coast Metro
    Property Description
    Great location 3/4 mile SW of South Coast Plaza. Located 1/2 mile from Orange Coast College and less than 2 miles from John Wayne Airport. The property consists of a single building with a 1-story, 2 BR/1 BA unit in the front and two 2 BR/1.5 BA two-story townhouse-style units in the rear. Very spacious units approx. 1,063 sf, each with attached patio. The building was constructed in 1962. Each unit has an individual garage space and there are 2 additional uncovered parking spaces. Parking is accessed through a rear alley. Vinyl and plank flooring. There is an extremely strong demand for rentals in this area. There is significant upside in the current rent rates. The 2 BR/1 BA rents for $1,610 and 2 BR/1.5 BA unit rents for $1,675, on the same street are currently rented at rates as high as $1,700 and $1,850/month, respectively. Current income specified below is actual. Current expenses are estimated. Projected Scheduled Gross Income and Net Operating Expenses with renovated units at market rental rates are $59,520 and $31,208 respectively. Projected Gross Rent Multiplier is 19.2. Selling as is.
    Exterior Features

    Construction Materials Drywall WallsFrameStuccoWood Siding Entry Level 1 Entry Location 1 Fence YN Yes Fencing Wood Foundation Details Slab Garage Spaces 3.00 Lot Features 21-25 Units/AcreBack YardFront YardRectangular LotPark NearbyUtilities - Overhead Lot Size Units Square Feet Parking Features GarageGarage Faces RearGarage - Three DoorOff StreetOn SiteParking SpacePrivate Parking Total 5.00 Parking YN Yes Pool Features None Pool Private YN No Property Attached YN Yes Road Frontage Type City Street Road Surface Type Alley PavedMaintainedPaved Roof Composition Spa Features None Spa YN No View None View YN No

    Interior Features

    Appliances Free-Standing RangeDisposalGas RangeVented Exhaust FanWater Heater Appliances YN Yes Average Studio Area Units Square Feet Average1 Bed Area Units Square Feet Average2 Bed Area Units Square Feet Average3 Bed Area Units Square Feet Common Walls 2+ Common WallsNo One AboveNo One Below Flooring See RemarksVinyl Heating Wall FurnaceNatural Gas Heating YN Yes Interior Features Formica CountersUnfurnished Laundry Features Gas Dryer HookupInsideWasher Hookup Levels Two Window Features Screens

    Property Features

    Additional Parcels YN No Association Fee 0.00 Association YN No Building Area Units Square Feet Community Features CurbsGuttersSidewalks Country Us Elevation Units Feet Gardener Expense 1150.00 Gross Income 59520.00 Gross Scheduled Income 59520.00 Insurance Expense 1043.00 Land Lease YN No Laundry YN Yes Net Operating Income 28312.00 New Construction YN No New Taxes Expense 0.00 Number Of Separate Electric Meters 3 Number Of Separate Gas Meters 3 Number Of Separate Water Meters 1 Operating Expense 31208.00 Property Sub Type Triplex Rent Control YN No Senior Community YN No Sewer Public Sewer Special Listing Conditions Standard Subdivision Name Other Mesa North - President Streets (Prmn) Tenant Pays Cable TvElectricityGasTelephone Total Expenses 4630.00 Trash Expense 1109.00 Water Sewer Expense 1328.00 Water Source Public Year Built Source Public Records

    Listing provided courtesy of Lyn Janota of William Kennedy And Associates


    Based on information from California Regional Multiple Listing Service, Inc. as of 2019-09-17T21:36:36.447. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or The Houston Team | Compass CA DRE#01991628. Licensed in the State of California, USA.
     
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