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Sq.Ft. Lot6,098
Year1963
Status:
Sold
Property Type:Residential Income (Multi-Family)
MLS #:NP19066020
Date Sold:9/16/2019
Lot Size:6,098 Sq. Ft.
County:Orange
Listing Agent/Office
Agent:Timothy Carr
Office:Villa Real Estate
The E. Bay fourplexes consist of three adjacent 4 unit investment properties all with separate APNs. The addresses are 117, 121, and 125 E. Bay Street and are situated in one of the most desirable rental markets, “Eastside Costa Mesa”. Each building features four 2 bedroom / 1 bathroom units which are all separately metered for gas/electricity, and are approximately 787 square feet in size. Tenants benefit from on-site laundry, covered garages, close proximity to freeways, beaches, and all the shopping and entertainment 17th street has to offer. This is an amazing opportunity for the savvy investor to acquire three side by side multi-family apartment buildings that are fully leased and offers the opportunity to increase rents and improve on the current cap rate. 121 and 125 E. Bay must be sold together. Don’t miss out on this opportunity.
Detailed Maps
Community Information
Address:121 E Bay St, Costa Mesa, CA 92627
Area:C5 - East Costa Mesa
County:Orange
City:Costa Mesa
Subdivision:Eastside Central (Eccm)
Zip Code:92627
Architecture
Year Built:1963
Number of Buildings: 1
Total Units: 4
Unit 1: 1 Unit•2 Beds•1 Bath•Unfurnished•$1,800 actual rent•$1,800 total rent•$1,950 pro forma
Unit 2: 1 Unit•2 Beds•1 Bath•Unfurnished•$1,800 actual rent•$1,800 total rent•$1,950 pro forma
Unit 3: 1 Unit•2 Beds•1 Bath•Unfurnished•$1,800 actual rent•$1,800 total rent•$1,950 pro forma
Unit 4: 1 Unit•2 Beds•1 Bath•Unfurnished•$1,800 actual rent•$1,800 total rent•$1,950 pro forma
Garage Spaces: 4.0
Open Parking Spaces: 4.0
Parking Total: 8.0
Features / Amenities
Laundry: Common Area, Laundry Room
Window: Double Pane Windows
Common Walls: No Common Walls
Property Features
Lot Size:
0.14 Acres / 6,098 Sq. Ft.
Lot Features: SprinklerSystem
Sewer: Public Sewer
Water: Public
Directions:Orange Ave to E. Bay
Tax and Financial Info
Buyer Financing: Cash
Gross Income: $88,000
Gross Scheduled Income: $86,400
Insurance Expense: $1,500
New Taxes Expense: $16,748
Terms: CashtoNewLoan, Conventional, Contract, Item1031Exchange
Land Lease: No
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.