121 E Bay Street, Costa Mesa, CA 92627

$1,500,000
3,150
SqFt
Sold Price
$1,500,000
List Price
$1,595,000
Closing Date
Sep 16, 2019
Status
CLOSED
MLS#
NP19066020
Year Built
1963
Living Sq. Ft
3,150
Lot Size
6,098
Acres
0.14
Lot Location
Sprinkler System
Days on Market
110
Property Type
Multifamily
Neighborhood
Eastside Central (Eccm)

Property Description

The E. Bay fourplexes consist of three adjacent 4 unit investment properties all with separate APNs. The addresses are 117, 121, and 125 E. Bay Street and are situated in one of the most desirable rental markets, “Eastside Costa Mesa”. Each building features four 2 bedroom / 1 bathroom units which are all separately metered for gas/electricity, and are approximately 787 square feet in size. Tenants benefit from on-site laundry, covered garages, close proximity to freeways, beaches, and all the shopping and entertainment 17th street has to offer. This is an amazing opportunity for the savvy investor to acquire three side by side multi-family apartment buildings that are fully leased and offers the opportunity to increase rents and improve on the current cap rate. 121 and 125 E. Bay must be sold together. Don’t miss out on this opportunity.

Additional Information

Tract Number
516
Lot Description
Sidewalks, Storm Drains, Street Lights
Pool Description
None
Garage Spaces Total
4
Sewer
Public Sewer
Water
Public
Attached Structure
Detached
Number Of Units Total
4
Gross Scheduled Income
$86,400

Mortgage Calculator

Amount of Loan
Annual Interest Rate
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Term of Loan
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Please consult a financial professional.
Calculator source: Real Geeks

Listing courtesy of Timothy Carr from Villa Real Estate

Listing sold by Elizabeth Thamer from Villa Real Estate