116 E 21st Street Costa Mesa, CA, 92627
$ 3,250,000Bedrooms Baths0.0
for $3,250,000. This home was built in 1963 on a lot size of 0.3200 Acre(s).
Pride of ownership, 8 Units, located in highly desired East Costa Mesa, one of Orange County's premier rental markets bordering the affluent city of Newport Beach. From this location tenants enjoy convenient access to world class beaches, the Newport Back Bay Trails, a plethora of hip dining establishments and South Coast Plaza, the nation's largest shopping center on the West Coast. The East 21st Street Apartment Homes have been immaculately maintained by the current ownership with several interior and exterior renovations completed. Improvements include dual pane windows, kitchens, cabinets, granite counters, stand-up showers, remote access iron gates, concrete stairs, new asphalt sealcoat, modern exterior paint scheme and much more. A collection of eight spacious 2 bedroom units with an average size of roughly 910 square feet each. The size of the units and the location, have made these units easy to rent, attracted longer-term tenants and has produced solid income. Current rents average $1, 692 and market rents are roughly $1, 975 for similar rentals. An excellent investment property for an astute investor with roughly 15% of upside in rental income.
Building Amenities Laundry
Room Features Individual Laundry
Sewer Public Sewer
Water Source Public Water
Exterior* Excluded Features
Garage 4+ Car Carport
Land Improvements Sidewalks
Parking Assigned Parking Parking
List By Investment Capital Real Estate
- Monthly Principal & Interest
- Monthly Property Taxes
- Monthly Home Insurance
Default based on a 30-year fixed rate of 4.125% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.
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Single family listings in Costa Mesa, CA
Average List Price $1,119,947
Percent of Sale Price 66 %
About Costa Mesa, CA
4 % Since 2002
$ 69,992 Median Income
35.59 Median Age
27 % Households with Children