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    1010-1016 Valencia Street

    Costa Mesa, CA 92626
    • $3,695,000
    • STATUS: Active Under Contract
    • ON SITE: 166 days
    • ID#: OC20070678
    Under Contract
    UPDATED: 29 min ago
    $3,695,000
    • 0
      BEDS
    • 0.3
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 9,340
      SQFT
    • $396
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1964
    County:

    School Ratings & Info

    Description

    We are pleased to present 1010 - 1016 Valencia Street, an 8-unit multifamily investment opportunity located in the city of Costa Mesa, one of the premier coastal housing markets in Southern California.Situated on a 0.30-acre lot, the 9,340 square foot property consists exclusively of three-bedroom units and offers amenities including a central courtyard, garage parking, and on-site laundry. The property recently underwent significant renovations to both the interior and exterior. Interior upgrades for four out of the eight units include vinyl wood flooring, new countertops and cabinets, stainless steel appliances, and an open kitchen layout. Exterior upgrades include new paint and well-maintained landscaping. These improvements have helped current ownership to achieve rents at the peak of the market.

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    Based on information from California Regional Multiple Listing Service, Inc. as of 2020-09-22T18:34:33.847. 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 Team Tami | Palm Realty Boutique. Licensed in the State of California, USA.

    www.playavistaliving.com/homes/104906925
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    1010-1016 Valencia Street Costa Mesa, CA 92626

    • Price: $3,695,000
    • Status: Active Under Contract
    • Updated: 29 min ago
    • ID#: OC20070678
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.3
    Acres
    9,340
    SQFT
    $396
    $/SQFT
    1964
    Built
    Neighborhood:
    699 - Not Defined
    County:
    Orange
    Area:
    699 - Not Defined
    Property Description
    We are pleased to present 1010 - 1016 Valencia Street, an 8-unit multifamily investment opportunity located in the city of Costa Mesa, one of the premier coastal housing markets in Southern California.Situated on a 0.30-acre lot, the 9,340 square foot property consists exclusively of three-bedroom units and offers amenities including a central courtyard, garage parking, and on-site laundry. The property recently underwent significant renovations to both the interior and exterior. Interior upgrades for four out of the eight units include vinyl wood flooring, new countertops and cabinets, stainless steel appliances, and an open kitchen layout. Exterior upgrades include new paint and well-maintained landscaping. These improvements have helped current ownership to achieve rents at the peak of the market.
    Exterior Features

    Garage Spaces 8.00 Lot Features LandscapedLevel With Street Lot Size Source Assessor Lot Size Units Acres Parking Total 14.00 Pool Features None Pool Private YN No Property Attached YN No Uncovered Spaces 6.00

    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 No Common Walls Laundry Features Common Area Levels Two

    Property Features

    Additional Parcels Description 14166410 Additional Parcels YN Yes Building Area Units Square Feet Community Features CurbsGuttersSidewalks Country Us Electric Expense 2535.00 Elevation Units Feet Fuel Expense 2535.00 Gross Income 234000.00 Gross Operating Income 227052.00 Gross Scheduled Income 231600.00 Insurance Expense 6500.00 Land Lease YN No Laundry YN Yes Maintenance Expense 8000.00 Net Operating Income 155568.00 New Construction YN No New Taxes Expense 41244.00 Number Of Separate Electric Meters 8 Number Of Separate Gas Meters 8 Number Of Separate Water Meters 1 Number Of Units Leased 8 Operating Expense 71484.00 Other Expense 5600.00 Other Expense Description Misc Other Income1 2400.00 Professional Management Expense 0.00 Rent Control YN Yes Senior Community YN No Sewer Public Sewer Special Listing Conditions Standard Total Actual Rent 19300.00 Total Expenses 71484.00 Trash Expense 2535.00 Vacancy Allowance 6948 Water Sewer Expense 2535.00 Water Source Public Year Built Source Assessor

    Listing provided courtesy of Kurt Hediger of Marcus & Millichap Re Invest


    Based on information from California Regional Multiple Listing Service, Inc. as of 2020-09-22T18:34:33.847. 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 Team Tami | Palm Realty Boutique. Licensed in the State of California, USA.

     
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