$2,200,000
$2,300,000
4.3%For more information regarding the value of a property, please contact us for a free consultation.
8,400 SqFt
SOLD DATE : 03/31/2014
Key Details
Sold Price $2,200,000
Property Type Multi-Family
Listing Status Sold
Purchase Type For Sale
Square Footage 8,400 sqft
Price per Sqft $261
Subdivision Mesa West (Mwst)
MLS Listing ID PW14000527
Sold Date 03/31/14
HOA Y/N No
Year Built 1963
Lot Size 0.289 Acres
Acres 0.289
Property Description
862 and 868 Center Street apartments are two 4-plex apartment buildings that lie on two side by side parcels of land totaling 12,592 square feet in the West Side of Costa Mesa. The subject property is located in a great neighborhood, near several parks including Canyon Park and Marina Park, and is approximately one and a half miles from Newport Beach and one mile from Costa Mesa Country Club.
Both buildings built in 1963, 862 and 868 Center Street total 8 units with each 4-plex containing 3 bedroom/one and a half bathroom units. Each unit is individually metered along with individual hot water heaters. There is also on-site laundry facilities that also provide additional income.
The location indicates a stable investment with opportunity for appreciation. In addition, current interest rates remain historically low for the time being allowing the investor to capture a great asset with positive leverage.
Location
State CA
County Orange
Area C2 - Southwest Costa Mesa
Interior
Fireplace No
Exterior
Garage Assigned
Carport Spaces 4
Pool None
Community Features Sidewalks
Parking Type Assigned
Total Parking Spaces 8
Private Pool No
Building
Lot Description Item01UnitAcre
Story Two
Entry Level Two
Sewer Unknown
Water Public
Level or Stories Two
Others
Tax ID 42419123
Acceptable Financing CashtoNewLoan
Listing Terms CashtoNewLoan
Financing Cash
Special Listing Condition Standard
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Bought with Gary Tolfa • Investment Property Group
"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "