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Magnum Realty Services

Mark E. Cestaric
Real Estate Broker
714-606-9491
MarkeCestaric@gmail.com
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DRE#: 009883926

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Listing 8 out of 24
$1,180,000 For Sale

3009 Coolidge Avenue
Costa Mesa, CA 92626

3 units | Multi Family Home
6469 sq ft lot - MLS# NP19170834
Property Photo

Description

Great location 3/4 mile SW of South Coast Plaza. Located 1/2 mile from Orange Coast College and less than 2 miles from John Wayne Airport. The property consists of a single building with a 1-story, 2 BR/1 BA unit in the front and two 2 BR/1.5 BA two-story townhouse-style units in the rear. Very spacious units approx. 1,063 sf, each with attached patio. The building was constructed in 1962. Each unit has an individual garage space and there are 2 additional uncovered parking spaces. Parking is accessed through a rear alley. Vinyl and plank flooring. There is an extremely strong demand for rentals in this area. There is significant upside in the current rent rates. The 2 BR/1 BA rents for $1,610 and 2 BR/1.5 BA unit rents for $1,675, on the same street are currently rented at rates as high as $1,700 and $1,850/month, respectively. Current income specified below is actual. Current expenses are estimated. Projected Scheduled Gross Income and Net Operating Expenses with renovated units at market rental rates are $59,520 and $31,208 respectively. Projected Gross Rent Multiplier is 19.2. Selling as is.

Features

  • Property Type: Multi Family Home
  • Sub Type: Multi Family Home
  • Listing Status: Active
  • Zip Code: 92626
  • Year Built: 1962
  • Subdivision/Neighborhood: Mesa North - President Streets (Prmn)
  • Stories: Two
  • Units: 3 units
  • # of Parking Spaces: 5.00
  • Lot Size: 6469 sq ft lot
  • Area: C3 - South Coast Metro
  • Appliances: Free-Standing Range, Disposal, Gas Range, Vented Exhaust Fan, Water Heater
  • Appliances YN: Yes
  • Average Studio Area Units: Square Feet
  • Average2Bed Area Units: Square Feet
  • Average3Bed Area Units: Square Feet
  • Building Area Total: 3698.00
  • Building Area Units: Square Feet
  • Common Walls: 2+ Common Walls, No One Above, No One Below
  • Community Features: Curbs, Gutters, Sidewalks
  • Construction Materials: Drywall Walls, Frame, Stucco, Wood Siding
  • Country: US
  • Directions: Driving E on Baker St., turn N on Coolidge Ave.
  • Entry Level: 1
  • Entry Location: 1
  • Fence YN: Yes
  • Fencing: Wood
  • Flooring: See Remarks, Vinyl
  • Foundation Details: Slab
  • Garage Spaces: 3.00
  • Gardener Expense: 1150.00
  • Gross Income: 59520.00
  • Gross Scheduled Income: 59520.00
  • Heating: Wall Furnace, Natural Gas
  • Heating YN: Yes
  • Insurance Expense: 1043.00
  • Interior Features: Formica Counters, Unfurnished
  • Laundry Features: Gas Dryer Hookup, Inside, Washer Hookup
  • Laundry YN: Yes
  • Listing Agent License: 01944862
  • Listing Office License: 00512430
  • Lot Features: 21-25 Units/Acre, Back Yard, Front Yard, Rectangular Lot, Park Nearby, Utilities - Overhead
  • Lot Size Area: 6469.0000
  • Lot Size Units: Square Feet
  • MLS: CRM
  • Net Operating Income: 28312.00
  • Number Of Buildings: 1
  • Number Of Separate Electric Meters: 3
  • Number Of Separate Gas Meters: 3
  • Number Of Separate Water Meters: 1
  • Operating Expense: 31208.00
  • Parking Features: Garage, Garage Faces Rear, Garage - Three Door, Off Street, On Site, Parking Space, Private
  • Parking YN: Yes
  • Property Attached YN: Yes
  • Road Frontage Type: City Street
  • Road Surface Type: Alley Paved, Maintained, Paved
  • Roof: Composition
  • Sewer: Public Sewer
  • Stories Total: 2
  • Total Expenses: 4630.00
  • Trash Expense: 1109.00
  • Uncovered Spaces: 2.00
  • Water Sewer Expense: 1328.00
  • Water Source: Public
  • Window Features: Screens
  • Year Built Source: Public Records
Courtesy of William Kennedy And Associates, Lyn Janota

Mark E. Cestaric
Costa Mesa, CA 92626
Phone: 714-606-9491
Email: markecestaric@gmail.com

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