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Key Details
Sold Price $1,725,000
Property Type Multi-Family
Sub Type Triplex
Listing Status Sold
Purchase Type For Sale
Square Footage 3,950 sqft
Price per Sqft $436
MLS Listing ID CRNP23074389
Sold Date 06/16/23
Bedrooms 9
HOA Y/N No
Year Built 1970
Lot Size 0.290 Acres
Acres 0.29
Property Description
Priced attractively below market value due to the currently low rents, this outstanding income property provides upside to the new owner to achieve an approximate 40% increase in Gross Scheduled Income and approximate 4% CAP rate. Take advantage of this unique opportunity to own a unicorn among the neighboring properties in the desirable Mesa Verde area of Costa Mesa. This 3-unit property consists of a 4-bedroom, 2-bathroom custom detached home with fireplace (1,663 sq ft) built for the owners in 1996, plus a duplex includes comprised of a generously sized 3-bedroom, 2-bathroom unit with fireplace, as well as a comfortable 2-bedroom, 1.5-bathroom unit. The expansive 12,500 sq ft lot allows for each unit to feature a private patio and/or yard, enhancing the living experience for tenants. Additionally, the property provides 3 garage spaces and 6 private parking stalls. For added convenience, laundry hookups are available in each unit, offering a competitive edge in the rental market. The owner has recently renovated the interiors of all 3 units and installed brand new garage doors. Great for an Owner User or 1031 Exchange Buyer, this investment property is not to be overlooked. Schedule your viewing today.
Location
State CA
County Orange
Area Mesa Verde
Interior
Heating Forced Air
Cooling Central Air
Flooring Laminate, Carpet
Fireplace No
Laundry Common Area, In Garage, Other, Inside
Exterior
Exterior Feature Back Yard, Front Yard, Other
Utilities Available Sewer Connected
View Y/N false
View None
Total Parking Spaces 9
Building
Lot Description Cul-De-Sac, Other, Back Yard, Front Yard, Landscape Misc
New Construction No
Others
Tax ID 13949128
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© 2024 BEAR, CCAR, bridgeMLS. This information is deemed reliable but not verified or guaranteed. This information is being provided by the Bay East MLS or Contra Costa MLS or bridgeMLS. The listings presented here may or may not be listed by the Broker/Agent operating this website.
Bought with BobWalz