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Sq.Ft. Lot7,729
Year1951
Status:
Sold
Property Type:Triplex
MLS #:NP22157853
Date Sold:9/7/2022
Lot Size:7,729 Sq. Ft.
County:Orange
Listing Agent/Office
Agent:Timothy Carr
Office:Villa Real Estate
We are pleased to present the sale of 403-405 Serra Drive, a 2 unit multifamily property located in Corona del Mar. Available for the first time in decades, the property consists of (2) 3 bedroom / 2 bathroom units. The property is currently being used as 4 units, but could be converted back if desired. Situated on an approximate 8,000 square foot lot, the property features a community pool, coin operated laundry area, and private yard space. This is a great opportunity for an investor looking to add to their real estate portfolio, or for an owner user looking to live in one unit while generating strong income from the other units. This asset is located in one of the most desirable neighborhoods in Orange County and offers tenants close proximity to world class beaches, parks, and all the shopping and dining the Village has to offer.
Detailed Maps
Price Change History
| Date | Old Price | New Price | Percent Change |
| 9/7/2022 | $3,249,000 | $3,300,000 | 1.6% |
Community Information
Address:403 405 Serra Dr, Corona Del Mar, CA 92625
Area:CS - Corona Del Mar - Spyglass
County:Orange
City:Corona Del Mar
Subdivision:Corona Highlands (Corh)
Zip Code:92625
Architecture
Year Built:1951
Stories:2
Building Area: 2600.0
Number of Buildings: 2
Total Units: 2
Stories Total: 2
Unit 1: 1 Unit • 3 Beds • 2 Baths • Unfurnished • $5,135 actual rent • $5,135 total rent • $5,600 pro forma
Unit 2: 1 Unit • 3 Beds • 2 Baths • Unfurnished • $3,200 actual rent • $3,200 total rent • $5,800 pro forma
Unit 3: 1 Unit • 1 Bath • Unfurnished • $2,400 pro forma
Roof: Composition
Garage Spaces: 4.0
Parking Total: 4.0
Features / Amenities
Appliances: Dishwasher, Electric Cooktop, Gas Cooktop
Fireplace Features: Living Room
Flooring: Carpet, Laminate
Laundry: Common Area
Pool: In Ground, Private
Security Features: Carbon Monoxide Detector(s), Smoke Detector(s)
Private Pool: Yes
Common Walls: No Common Walls
Property Features
Lot Size:
0.18 Acres / 7,729 Sq. Ft.
Lot Features: Garden, Landscaped
Sewer: Public Sewer
Water: Public
Fencing: Vinyl
Directions:PCH to Serra
Tax and Financial Info
Buyer Financing: Conventional
Gross Scheduled Income: $126,420
Net Operating Income: $76,925
Electric Expense: $4,800
Fuel Expense: $1,200
Gardener Expense: $2,400
Insurance Expense: $2,000
New Taxes Expense: $34,115
Pool Expense: $1,380
Water/Sewer Expense: $1,600
Terms: Cash
Schools
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Based on information from California Regional Multiple Listing Service, Inc. as of April 1, 2023. 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 usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent. IDX provided by Sierra Interactive.