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1971 Wallace Ave

Costa Mesa, CA 92627 View Map $2,454,000 Ask a Question
Sq.Ft. Lot18,757
Year1966
1971 Wallace Ave Costa Mesa, CA 92627 | MLS NP22093521 Photo 1
1971 Wallace Ave Costa Mesa, CA 92627 | MLS NP22093521 Map
Tim Carr

Tim Carr

(949) 230-8454
DRE No.: 01017277

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Status: Sold
Property Type:Mixed Use
MLS #:NP22093521
Date Sold:10/19/2022
Lot Size:18,757 Sq. Ft.
County:Orange

Listing Agent/Office

Agent:Timothy Carr
Office:Villa Real Estate
We are pleased to present the sale of 1971 Wallace Ave, a 5 unit multifamily property located in Westside Costa Mesa. Available for the first time in over 45 years, the property consists of (3) 2 bedroom / 1 bath units and (2) 2 bedroom / 1 bathroom units. Situated on an approximate 18,757 square foot lot, each unit boasts private yards, single car garages, washer/dryer hook-ups, and are separately metered for gas and electricity. This asset is located in one of the most desirable rental markets in Orange County and offers tenants close proximity to major freeways, John Wayne Airport, parks, and all the amenities Harbor Blvd has to offer!

Detailed Maps

Price Change History

Date Old Price New Price Percent Change
8/3/2022$2,750,000$2,595,000-5.6%
10/20/2022$2,595,000$2,454,000-5.4%

Community Information

Address:1971 Wallace Ave, Costa Mesa, CA 92627
Area:C2 - Southwest Costa Mesa
County:Orange
City:Costa Mesa
Subdivision:West Costa Mesa North (Wncm)
Zip Code:92627

Architecture

Year Built:1966
Building Area: 4438.0
Number of Buildings: 1
Total Units: 5
Unit 1: 1 Unit • 2 Beds • 1 Bath • Unfurnished • $1,980 actual rent • $1,980 total rent • $2,300 pro forma
Unit 2: 1 Unit • 2 Beds • 1 Bath • Unfurnished • $2,065 actual rent • $2,065 total rent • $2,300 pro forma
Unit 3: 1 Unit • 2 Beds • 1 Bath • Unfurnished • $1,980 actual rent • $1,980 total rent • $2,300 pro forma
Unit 4: 1 Unit • 2 Beds • 2 Baths • Unfurnished • $1,980 actual rent • $1,980 total rent • $2,400 pro forma
Unit 5: 1 Unit • 2 Beds • 2 Baths • Unfurnished • $2,090 actual rent • $2,090 total rent • $2,400 pro forma
Roof: Composition
Garage Spaces: 5.0
Parking Total: 10.0

Features / Amenities

Flooring: Laminate, Tile
Laundry: Electric Dryer Hookup, Gas Dryer Hookup
Security Features: Carbon Monoxide Detector(s), Smoke Detector(s)
Common Walls: No Common Walls
Heating: Wall Furnace

Rooms

Family Room
Kitchen

Property Features

Lot Size: 0.43 Acres / 18,757 Sq. Ft.
Lot Features: Back Yard, Front Yard
Sewer: Public Sewer
Water: Public
Directions:Wallace Ave between Placentia and Pomona off of Hamilton

Tax and Financial Info

Buyer Financing: Cash
Gross Scheduled Income: $121,140
Terms: Cash, Conventional
Land Lease: No

Schools

WALKING AND TRANSPORTATION

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Based on information from California Regional Multiple Listing Service, Inc. as of March 20, 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.