Sold
1642 Coriander Drive
Costa Mesa CA, 92626
$1,995,000
$440.11 per sqft
Sold
4,533 sqft
Multi-family
Built in 1965
Listed by Bob Walz with New Dimension Investment Prop 714-557-9000
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.
OC22248909
MLSⓇ ID
November 30, 2022
Listed
March 23, 2024
Updated
Map
1642 Coriander Drive
Costa Mesa CA, 92626
Interior Features
Total Stories
2
Laundry Description
Common Area, Washer Hookup, Electric Dryer Hookup, Gas Dryer Hookup, Laundry Room
Fireplace
Yes
Fireplace Description
Gas, Living Room
Cooling
No
Heating
Yes
Heating Description
Central
Exterior/Building Features
Lot Size
0.19 Acres
Lot Features
Sprinklers In Front
Roof
Asbestos Shingle
Sewer
Public Sewer
Other Property Details
Area Name
C1 - Mesa Verde
Days on Market
44
Garage
Yes
Garage Spaces
5
Parking Total
5
View
No
County
Orange
Water Source
Public
Pool
No
Pool Features
None
Buyer Agency Compensation
2.5%
Listing Contact: 714-557-9000
Based on information from the California Regional Multiple Listing Service (CRMLS) as of 3/23/2024. 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, the 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. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. Any offer of compensation is made only to participants of the MLS where the listing is filed.
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Data last updated on 3/23/2024 at 1:39 AM UTC