Price $3,250,000
Status Active
Beds 0
Baths 0 bath
Home size 7,280 sq ft
Lot Size 13,939 sqft
Days on Market 36
Pride of ownership, 8 Units, located in highly desired East Costa Mesa, one of Orange County's premier rental markets bordering the affluent city of Newport Beach. From this location tenants enjoy convenient access to world class beaches, the Newport Back Bay Trails, a plethora of hip dining establishments and South Coast Plaza, the nation's largest shopping center on the West Coast. The East 21st Street Apartment Homes have been immaculately maintained by the current ownership with several interior and exterior renovations completed. Improvements include dual pane windows, kitchens, cabinets, granite counters, stand-up showers, remote access iron gates, concrete stairs, new asphalt sealcoat, modern exterior paint scheme and much more. A collection of eight spacious 2 bedroom units with an average size of roughly 910 square feet each. The size of the units and the location, have made these units easy to rent, attracted longer-term tenants and has produced solid income. Current rents average $1,692 and market rents are roughly $1,975 for similar rentals. An excellent investment property for an astute investor with roughly 15% of upside in rental income.
Property Type(s): Residential Income
Last Updated 11/6/2018 Tract Other (OTHR)
Year Built 1963 Community C5 - East Costa Mesa
County Orange

Additional Details

AREA C5 - East Costa Mesa
GARAGE Assigned
LOT 0.3200 acre(s)
LOT DESCRIPTION Lot 10000-19999 Sqft
POOL DESCRIPTION None
SEWER Public Sewer
STORIES 2
SUBDIVISION Other (OTHR)
WATER Public
ZONING R2

Location

 

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Listing provided by : Ignacio Diaz Jr. CalDRE: 01379930, Investment Capital Real Estate

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