178 E 18th Street

    Costa Mesa, CA 92627
    • $1,699,500
    • STATUS: Active
    • ON SITE: 11 days
    • ID#: OC19275149
    UPDATED: 69 min ago
    $1,699,500
    • 0
      BEDS
    • 0.17
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 3,384
      SQFT
    • $502
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1965
    County:

    School Ratings & Info

    Description

    This is the first time this property has ever been offered for sale by the Original ownership/developer family. Well located, value-add opportunity of four units in the very desirable Eastside Costa mesa apartment submarket. There are (4) approximately 850 Sq. Ft. 2-bed, 1-bath units. The owner keeps one unit for their personal use. This unit interior has crown molding, raised panel doors, two tone paint, upgraded door casing, newer baseboards, newer custom kitchen cabinets, recessed lighting, scraped ceilings, dishwasher and custom tiled shower/tub enclosure. There are nice floor to ceilings built-ins in the living rooms of all units. one unit has wide plank flooring throughout, while others have a combination of vinyl, simulated hardwood, and carpet. Bathrooms have vinyl or tile flooring. Each unit has an eating nook and all interior are light and bright. There is a great opportunity privatize and activate the lower front units' front yards by hedging and gating the space to allow residents the privacy and extra living area which can be utilized year round. The building is located walking distance to the 17th Street retail corridor. Income shown is market. See proforma. 7-page Marketing Flyer and Rental Statement.

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    Based on information from California Regional Multiple Listing Service, Inc. as of 2019-12-15T14:26:25.533. 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 Compass. Licensed in the State of California, USA.

    www.sperryresidential.com/homes/101421542

    178 E 18th Street Costa Mesa, CA 92627

    • Price: $1,699,500
    • Status: Active
    • Updated: 69 min ago
    • ID#: OC19275149
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.17
    Acres
    3,384
    SQFT
    $502
    $/SQFT
    1965
    Built
    Neighborhood:
    Eastside Central (Eccm)
    County:
    Orange
    Area:
    C5 - East Costa Mesa
    Property Description
    This is the first time this property has ever been offered for sale by the Original ownership/developer family. Well located, value-add opportunity of four units in the very desirable Eastside Costa mesa apartment submarket. There are (4) approximately 850 Sq. Ft. 2-bed, 1-bath units. The owner keeps one unit for their personal use. This unit interior has crown molding, raised panel doors, two tone paint, upgraded door casing, newer baseboards, newer custom kitchen cabinets, recessed lighting, scraped ceilings, dishwasher and custom tiled shower/tub enclosure. There are nice floor to ceilings built-ins in the living rooms of all units. one unit has wide plank flooring throughout, while others have a combination of vinyl, simulated hardwood, and carpet. Bathrooms have vinyl or tile flooring. Each unit has an eating nook and all interior are light and bright. There is a great opportunity privatize and activate the lower front units' front yards by hedging and gating the space to allow residents the privacy and extra living area which can be utilized year round. The building is located walking distance to the 17th Street retail corridor. Income shown is market. See proforma. 7-page Marketing Flyer and Rental Statement.
    Exterior Features

    Construction Materials FrameStucco Garage Spaces 4.00 Lot Features Lot 6500-9999LevelNear Public Transit Lot Size Source Assessor Lot Size Units Square Feet Parking Features Garage Faces Rear Parking Total 8.00 Parking YN Yes Pool Features None Pool Private YN No Property Attached YN Yes Road Frontage Type AlleyCity Street Road Surface Type Alley PavedPaved Roof Composition

    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 1 Common Wall Cooling None Cooling YN No Fireplace Features None Fireplace YN No Flooring LaminateTileVinyl Heating Wall Furnace Heating YN Yes Interior Features Built-In Features Laundry Features Community Levels Two

    Property Features

    Additional Parcels YN No Association Fee 0.00 Association YN No Building Area Units Square Feet Cap Rate 3.90 Community Features SidewalksStorm DrainsSuburban Country Us Electric Expense 0.00 Elevation Units Feet Fuel Expense 0.00 Gross Income 7980.00 Gross Multiplier 17.75 Gross Operating Income 96007.00 Gross Scheduled Income 95760.00 Insurance Expense 0.00 Land Lease YN No Laundry Income 720.00 Laundry YN Yes Net Operating Income 66222.00 New Construction YN No New Taxes Expense 17867.00 Number Of Separate Electric Meters 5 Number Of Separate Gas Meters 5 Number Of Separate Water Meters 1 Number With Dishwasher 2 Number With Disposal 4 Number With Range 4 Operating Expense 29785.00 Operating Expense Percent 31.00 Property Condition Repairs CosmeticUpdated/Remodeled Rent Control YN Yes Senior Community YN No Sewer Public Sewer Special Listing Conditions Standard Subdivision Name Other Eastside Central (Eccm) Tenant Pays Cable TvElectricityGas Total Actual Rent 6973.00 Total Expenses 29785.00 Trash Expense 0.00 Utilities Electricity ConnectedNatural Gas ConnectedSewer ConnectedWater Connected Vacancy Allowance 2873 Vacancy Allowance Rate 3.00 Water Sewer Expense 0.00 Water Source Public Year Built Source Assessor

    Listing provided courtesy of Steven Brombal of Kidder Mathews Of California and Joshua Rhee of Kidder Mathews Of California


    Based on information from California Regional Multiple Listing Service, Inc. as of 2019-12-15T14:26:25.533. 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 Compass. Licensed in the State of California, USA.

     
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