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Ray Rodriguez
Mobile Phone:
562-572-2238
toprealtor73@gmail.com

DRE# 00459720
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Ray Rodriguez
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Mobile Phone:
562-572-2238
toprealtor73@
gmail.com

DRE# 00459720
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735 Joann Street,  Costa Mesa CA, 92627 (Residential Income)

Status: Sold
MLS#: OC18191779
1of
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Last Updated: 3/22/2019 7:55 AM
Description for 735 Joann Street Costa Mesa, CA 92627
Four 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
Price
Sold Price:
$8,380,000
Sold Date:11/15/2018
Orange
OC18191779
Closed
Description
Four 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
Listing Information
Property Type: Cluster, 2 Story
0.9 Acres 39,204 sq.ft. $358.07
1964 2
23 Total
Neighborhood
Room Information
Common, Inside
Interior Features
Forced Air
Exterior / Lot Features
43 Parking Spaces
Pool
Community Pool
Sidewalks, Street Lights, Curbs Walk
Community Features
Community Pool
Driving Directions
W/Harbor & N/Wilson
Financial Considerations
42237226
$548,300 Income ,$225,113Expense
Listing Price History

Costa Mesa Real Estate

Costa Mesa is located in California. Costa Mesa, California 92627 has a population of 113,204.

The median household income in Costa Mesa, California 92627 is $66,491. The median household income for the surrounding county is $75,998 compared to the national median of $53,482. The median age of people living in Costa Mesa 92627 is 33.6 years.

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Courtesy: WMichael Cavner - William Michael Cavner, Broker
Licensed in: DRE# 01274709
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