970 Valencia Street

    Costa Mesa, CA 92626
    • $2,690,000
    • STATUS: Active
    • ON SITE: 91 days
    • ID#: OC19142736
    UPDATED: 12 min ago
    $2,690,000
    • 0
      BEDS
    • 0.22
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 7,400
      SQFT
    • $364
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1964
    County:

    School Ratings & Info

    Description

    REDUCED $200K, 6 turnkey units in Mesa Del Mar area. Large 7400 sq. ft. building sitting on a 9583 sq. ft. corner lot with 8 dedicated covered parking spaces. Unit mixes: One 3 bed 2 bath, three 2 bed 2 baths, and one 1 bed 1 bath. 6 separate gas and electric meters, water is paid by Landlord. All but 2 of the units are townhouse style with their own private patios/balconies. All units have washer/dryer hook-ups and all have been renovated with wood floors and granite counters. This is a perfect investment opportunity for a 1031 exchange, value added investment, or a potential condo conversion project with income in place, please check with the city of Costa Mesa. Close to beaches, South Coast Plaza, commerce centers, 73 toll road, 55, 5, 22, and 405 freeways.

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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/96012498

    970 Valencia Street Costa Mesa, CA 92626

    • Price: $2,690,000
    • Status: Active
    • Updated: 12 min ago
    • ID#: OC19142736
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.22
    Acres
    7,400
    SQFT
    $364
    $/SQFT
    1964
    Built
    Neighborhood:
    Other (Othr)
    County:
    Orange
    Area:
    C3 - South Coast Metro
    Property Description
    REDUCED $200K, 6 turnkey units in Mesa Del Mar area. Large 7400 sq. ft. building sitting on a 9583 sq. ft. corner lot with 8 dedicated covered parking spaces. Unit mixes: One 3 bed 2 bath, three 2 bed 2 baths, and one 1 bed 1 bath. 6 separate gas and electric meters, water is paid by Landlord. All but 2 of the units are townhouse style with their own private patios/balconies. All units have washer/dryer hook-ups and all have been renovated with wood floors and granite counters. This is a perfect investment opportunity for a 1031 exchange, value added investment, or a potential condo conversion project with income in place, please check with the city of Costa Mesa. Close to beaches, South Coast Plaza, commerce centers, 73 toll road, 55, 5, 22, and 405 freeways.
    Exterior Features

    Carport Spaces 4.00 Construction Materials Stucco Exterior Features Lighting Fence YN Yes Fencing VinylWood Garage Spaces 4.00 Lot Features 6-10 Units/AcreCorner LotFront YardLevel With StreetLevel Lot Size Source Assessor Lot Size Units Square Feet Parking Features Assigned Parking Total 8.00 Parking YN Yes Pool Features None Pool Private YN No Property Attached YN Yes Road Frontage Type City Street View Mountain(S)Neighborhood View YN Yes

    Interior Features

    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 Walls Cooling See Remarks Cooling YN Yes Flooring CarpetWood Heating Forced Air Heating YN Yes Interior Features BalconyGranite CountersRecessed LightingStone CountersStorage Laundry Features Gas Dryer HookupWasher Hookup Levels Two Room Type KitchenLiving Room Window Features Double Pane Windows

    Property Features

    Additional Parcels YN No Building Area Units Square Feet Cap Rate 3.62 Community Features Curbs Country Us Electric Standard Electric Expense 1683.00 Elevation Units Feet Fuel Expense 0.00 Gross Income 153180.00 Gross Scheduled Income 153180.00 Insurance Expense 1500.00 Land Lease YN No Laundry YN Yes Net Operating Income 97503.00 New Construction YN No New Taxes Expense 29950.00 Number Of Separate Electric Meters 6 Number Of Separate Gas Meters 6 Number Of Separate Water Meters 0 Operating Expense 55677.00 Professional Management Expense 6263.00 Property Condition TurnkeyUpdated/Remodeled Property Sub Type Commercial/Residential Rent Control YN No Senior Community YN No Sewer Sewer Paid Special Listing Conditions Standard Subdivision Name Other Mesa Del Mar Tenant Pays ElectricityGas Total Expenses 58805.00 Trash Expense 3422.00 Utilities Electricity ConnectedSewer ConnectedWater Connected Water Sewer Expense 2490.00 Water Source Public Year Built Source Assessor

    Listing provided courtesy of Tony Morrison of Lantern Bay Realty


    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.
     
    The Houston Team | Compass CA DRE#01991628
    2100 Costa Del Mar
    Carlsbad CA, 92009