$1,725,000
$1,999,000
13.7%For more information regarding the value of a property, please contact us for a free consultation.
3133 Coral AVE Costa Mesa, CA 92626
0.29 Acres Lot
Key Details
Sold Price $1,725,000
Property Type Multi-Family
Sub Type Triplex
Listing Status Sold
Purchase Type For Sale
MLS Listing ID NP23074389
Sold Date 06/16/23
Construction Status Updated/Remodeled,Turnkey
HOA Y/N No
Year Built 1970
Lot Size 0.290 Acres
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 C1 - Mesa Verde
Interior
Interior Features Wet Bar, Balcony, Ceiling Fan(s), Living Room Deck Attached, Stone Counters, Storage, Bedroom on Main Level, Jack and Jill Bath, Main Level Primary
Heating Forced Air
Cooling Central Air
Flooring Carpet, Laminate
Fireplaces Type Gas, Living Room
Fireplace Yes
Appliance Convection Oven, Dishwasher, Electric Range, Disposal, Gas Oven, Gas Range, Range Hood
Laundry Common Area, Washer Hookup, Electric Dryer Hookup, Gas Dryer Hookup, Inside, In Garage
Exterior
Parking Features Door-Multi, Door-Single, Driveway, Garage Faces Front, Garage, Garage Door Opener, Off Street, Paved, Side By Side, Uncovered
Garage Spaces 3.0
Garage Description 3.0
Fence Block, Excellent Condition, New Condition, Partial, Security, Wood
Pool None
Community Features Urban, Park
Utilities Available Cable Connected, Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected
View Y/N No
View None
Roof Type Composition,Flat,Spanish Tile
Total Parking Spaces 9
Private Pool No
Building
Lot Description Back Yard, Cul-De-Sac, Front Yard, Lawn, Landscaped, Near Park, Near Public Transit, Yard
Faces Southwest
Story 2
Entry Level Two
Foundation Slab
Sewer Public Sewer
Water Public
Architectural Style Spanish
Level or Stories Two
New Construction No
Construction Status Updated/Remodeled,Turnkey
Others
Senior Community No
Tax ID 13949128
Security Features Carbon Monoxide Detector(s),Smoke Detector(s)
Acceptable Financing Cash, Cash to New Loan, Conventional, 1031 Exchange
Listing Terms Cash, Cash to New Loan, Conventional, 1031 Exchange
Financing Cash
Special Listing Condition Standard
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Bought with Bob Walz • New Dimension Investment Prop