Listed by Bob Walz, New Dimension Investment Prop,

1642 Coriander Drive

Costa Mesa, CA, 92626

$1,995,000

$440 per ft²
$1,995,000
$440 per ft²
Active Under Contract
Active Under Contract
 - For Sale
carpenters-square
4,533 ft²
property_type
Multi-family
calendar
Built 1965
EXCELLENT FINANCING OPPORTUNITY!!! .........SELLER WILL CARRY THE FIRST TRUST DEED LOAN, and close quickly if needed, on this EXCEPTIONALLY WELL LOCATED SPICE STREET 4-PLEX IN ONE OF THE BEST LOCATIONS IN THE TRACT. The last sale in the tract is located directly across the street from the subject property and closed escrow on 10/8/21 at the price of $2,097,950. The subject property, although in need of upgrading, is well worth the Seller's asking price and provides a great value add opportunity for the Buyer. The property is being SOLD "AS IS". The Seller will even consider an offer from your Buyer who may want to 1031 Exchange there single family rental property into this 4-Plex providing the single family rental is in good condition and has a good tenant in place at or near market rent. To the rear of the property is a nice, clean single loaded concrete alleyway. The property offers an Excellent Unit Mix with (1) single story ground floor 3br-2ba /fireplace unit with no one above and (3) 2br - 1 3/4ba units. The front tenant has been in the unit for almost 50 years. There are 2 double garages and 1 single garage. The rent for unit "C" does not include tenant having a garage. This building is at the end of the block with lots of open space to the west of this property creating a very open-air feeling for the tenants. Rents quoted become effective Jan 1, 2023. Projected rents shown assume units being nicely remodeled. Please, please "DO NOT DISTURB TENANTS" Hurry to take advantage of the many benefits offered by this proper/Listing.
MLS® ID:
OC22248909
Listed:
11/29/22
Updated:
2/7/23

Interior Features

Total Bedrooms
0
Total Bathrooms
0
Laundry Description
Common Area, Washer Hookup, Electric Dryer Hookup, Gas Dryer Hookup, Laundry Room
Fireplace
Gas, Living Room
Heating
Central

Exterior/Building Features

Lot Size
8,274 ft² lot
Lot Details
Sprinklers In Front
Roof
Asbestos Shingle
Sewer
Public Sewer

Other Property Details

Area Name
C1 - Mesa Verde
Association Amenities
Sidewalks
Garage
Yes
Garage Spaces
5
Parking
5
Parking Total
5.0
View
N
County
Orange
Water Source
Public
Pool
No
Pool Description
None
Total Stories
2
Buyer Agency Compensation
2.500

Property History

Date
Event
Price
Value
1/16/23
Active Under Contract
-
-

Listed by New Dimension Investment Prop, Bob Walz,
Listing Contact: 714-393-8060 

Based on information from California Regional Multiple Listing Service, Inc. as of 2/7/23. 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.

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Data last updated 10:07 PM UTC, 2/7/23

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