Listed by Rick Applebaum, Morgan Skenderian,

432 Hamilton Street

Costa Mesa, CA, 92627

$1,905,000

$640 per ft²
$1,905,000
$640 per ft²
Active
Active
 - For Sale
carpenters-square
2,972 ft²
property_type
Multi-family
calendar
Built 1977
Pleased to present 432 Hamilton Street, a well-located triplex in Costa Mesa’s developing West Side. The subject property consists of two large two bedroom/two bathroom units and one large three bedroom/two bathroom unit, with each unit offering the residents a private patio or balcony including one expansive backyard for one of the two bedrooms. A community laundry facility (property owned machines) is available for tenants and each unit has their own individual garage plus an additional open parking space. The current owner is in process of obtaining approval for the addition of two ADU’s, each a two bedroom/two bathroom unit. Through modernization of the existing units, the new investor will benefit from the 29% in rental upside projected over existing rents. When combining the upside potential on the existing rents and adding the additional income from the new ADU’s, the investor is estimated to yield a 9.6% cash-on-cash return which includes the costs to build the new units. Not to mention the growth in equity after adding the units at costs well below the value of the finished product. This is a rare opportunity to purchase a well-priced triplex with the growth potential to achieve significant returns.
MLS® ID:
PW22223758
Listed:
10/16/22
Updated:
12/1/22

Interior Features

Total Bedrooms
0
Total Bathrooms
0
Laundry Description
Common Area

Exterior/Building Features

Lot Size
8,795 ft² lot
Sewer
Public Sewer

Other Property Details

Area Name
699 - Not Defined
HOA Amenities
Curbs, Gutter(s), Sidewalks
Garage
Yes
Garage Spaces
3
Parking
Y
Parking Total
8.0
View
N
County
Orange
Water Source
Public
Pool
No
Pool Description
None

Courtesy of Morgan Skenderian, Rick Applebaum,
Listing Contact:  

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Data last updated 12:29 AM UTC, 12/1/22

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