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999 Valencia Street

Costa Mesa, CA 92626
  • $1,999,000
  • STATUS: Pending
  • ON SITE: 25 Days
  • ID#: NP24104655
Pending
UPDATED: 117 min ago
$1,999,000
  • 0
    BEDS
  • 0.15
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Multi-Family
Built:
1964
County:

School Ratings & Info

Listing Agent(s): Nick Gould of Gould Group Inc (949-996-7976)


Description

Welcome to 999 Valencia Street, a four-unit apartment community, built in 1964. It is comprised of a fantastic unit mix of (1) 3- Bedroom/2.5-Bathroom Townhouse unit, (1) 2-Bedroom/1.5-Bathroom Townhouse unit, (1) 1-Bedroom/1-Bathroom unit, and (1) Studio unit. All units have been completely renovated over the last four years with tenants paying near-market rents. Tenants have access to a lush community courtyard and (6) single-car garages. there is also a community laundry room for tenants to use. This is the perfect asset for an investor looking for a turnkey property with a solid income.The property's strategic location ensures easy accessibility to the best of Costa Mesa, including renowned destinations such as SouthCoast Plaza, The Camp, The LAB, and the Harbor Blvd shopping corridor. Additionally, tenants enjoy seamless connectivity with quick access to major freeways, including the 405, 55, and 73 Freeways. This property promises a secure investment but also positions itselfas an inviting residential haven at the heart of Costa Mesa's vibrant offerings.

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Based on information from California Regional Multiple Listing Service, Inc. as of 2024-06-17T23:33:49.653. 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 deemed reliable but is not guaranteed accurate by the MLS or Mainstreet Realtors®. Licensed in the State of California, USA.
www.mainstreetgroup.com/homes/150864356
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999 Valencia Street Costa Mesa, CA 92626

  • Price: $1,999,000
  • Status: Pending
  • On Site: 25 Days
  • Updated: 117 min ago
  • ID#: NP24104655
0
Beds
0
Baths
0
½ Baths
0.15
Acres
1964
Built
Neighborhood:
,Mesa Del Mar
County:
Orange
Area:
C1 - Mesa Verde
Property Description
Welcome to 999 Valencia Street, a four-unit apartment community, built in 1964. It is comprised of a fantastic unit mix of (1) 3- Bedroom/2.5-Bathroom Townhouse unit, (1) 2-Bedroom/1.5-Bathroom Townhouse unit, (1) 1-Bedroom/1-Bathroom unit, and (1) Studio unit. All units have been completely renovated over the last four years with tenants paying near-market rents. Tenants have access to a lush community courtyard and (6) single-car garages. there is also a community laundry room for tenants to use. This is the perfect asset for an investor looking for a turnkey property with a solid income.The property's strategic location ensures easy accessibility to the best of Costa Mesa, including renowned destinations such as SouthCoast Plaza, The Camp, The LAB, and the Harbor Blvd shopping corridor. Additionally, tenants enjoy seamless connectivity with quick access to major freeways, including the 405, 55, and 73 Freeways. This property promises a secure investment but also positions itselfas an inviting residential haven at the heart of Costa Mesa's vibrant offerings.
Exterior Features

Construction Materials Stucco Entry Level 2 Entry Location 4 Fencing Block Lot Features 2-5 Units/Acre Number Of Separate Electric Meters 5 Open Parking Spaces 1 Parking Features Assigned Parking Total 7 Pool Features None Pool Private YN No Property Attached YN Yes Roof Composition Spa Features None Spa YN No View None View YN No

Interior Features

Common Walls 2+ Common Walls Cooling None Cooling YN No Fireplace Features None Fireplace YN No Heating Wall Furnace Heating YN Yes

Property Features

Additional Parcels YN No Association Fee 0 Association YN No Cap Rate 4.31 Common Interest None Community Features BikingCurbsGutter(s)Storm Drain(s)Street LightsSidewalks Contingency None Electric Expense 1200 Fuel Expense 1500 Garage YN Yes Gross Income 130008 Gross Scheduled Income 130008 Insurance Expense 2500 Land Lease YN No Laundry Features Common Area Levels Two Listing Agreement Exclusive Right To Sell Listing Service Full Service Listing Terms CashCash to New Loan Maintenance Expense 6500 Net Operating Income 86116 New Construction YN No New Taxes Expense 22463 Number Of Separate Gas Meters 5 Number Of Separate Water Meters 1 Operating Expense 39991 Other Expense 0 Property Sub Type Quadruplex Rent Control YN Yes Senior Community YN No Sewer Public Sewer Special Listing Conditions Standard Tenant Pays ElectricityGas Trash Expense 2500 Vacancy Allowance 3900 Vacancy Allowance Rate 3 Water Sewer Expense 2500 Water Source Public



Based on information from California Regional Multiple Listing Service, Inc. as of 2024-06-17T23:33:49.653. 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 deemed reliable but is not guaranteed accurate by the MLS or Mainstreet Realtors®. Licensed in the State of California, USA.
 
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Mainstreet Realtors®
8577 Haven Ave, Suite 100
Rancho Cucamonga CA, 91730
Listing Agent(s): Nick Gould of Gould Group Inc (949-996-7976)