1925 Wallace Avenue

Costa Mesa, CA 92627

$2,850,000
Price
8
Beds
5
Baths
3,788 Sq. Ft.
$752 / Sq. Ft.
3,788
Sq. Ft.
$752
per Sq. Ft.

Description

Unique opportunity for Value-Add Investment. Two contiguous properties totaling 18,295 sq. ft of land. Front property consists of (4) two bedroom, 1/2 bath units. Existing leases are all short term, two units will be delivered vacant thus giving the new buyer to increase rents. Back lot is all paved in asphalt and the City of Costa Mesa will approve the development of 3 additional residential units.Unique opportunity for Value-Add Investment. Two contiguous properties totaling 18,295 sq. ft of land. Front property consists of (4) two bedroom, 1/2 bath units. Existing leases are all short term, two units will be delivered vacant thus giving the new buyer to increase rents. Back lot is all paved in asphalt and the City of Costa Mesa will approve the development of 3 additional residential units.
  1. Listed by Joseph Winkelmann • DRE #01259378 • Brokerage DRE #01895979 • Colliers International Greater Los Angel

Property Details for 1925 Wallace Avenue

Water Front
None
Style
Low Rise
Cross Streets
w 19th Street & Wallace Avenue
Parcel Number
42227116
Total Units
4.0
Living Area
3788
Source Living Area
Assessor
Area
Southwest Costa Mesa (C2)
LISTING UPDATED: 08/15/2024 02:18 PM

Property Details for 1925 Wallace Avenue

StatusActive
MLS #24-407777
Days on Market166
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1960
Lot Size0.42 AC / 18,295 SF
CountyOrange County

Building Information for 1925 Wallace Avenue

Stories2Residences-Year Built1960Building Size-Lot Size0.42 AC / 18,295 SF

Property Information for 1925 Wallace Avenue

Community / Development
Community / Development
  • Number Of Units: 4
  • Senior Community: No
Structure Info
Structure Info
  • Year Built Source: Other
  • Number Of Stories: 2
  • Number Of Buildings: 1
  • Type Of Units: Low-Rise Apt
  • View: No
  • View Description: None
  • View: None
  • Security Features: None
  • Direction Faces: West
  • Property Condition: No Additions/Alter
  • Water Heaters: Yes
Contract Info
Contract Info
  • Probate: No
  • Disclosures: As Is
  • Listing Type: Exclusive Right To Sell
  • Service Level: Full Service
Income & Expenses Information
Income & Expenses Information
  • Scheduled Actual: Actual
  • Gross Operating Income: $0
  • Net Operating Income: $44,225.84
  • Gross Income: $46,800
  • Gross Rent Multiplier: $.00
  • Total Annual Expense: 2574.16
  • Water Expense: $37.00
  • Trash Expense: $37.00
  • Tax Expense: $2,296
  • Insurance Expense: $204
Land / Lot Info
Land / Lot Info
  • Additional Parcel Number: Yes
  • Lot Acreage: 0.42
  • Lot Size Square Feet: 18295
Parking Details
Parking Details
  • Parking Garage: Uncovered, On street, Detached
  • Total Parking: 0
  • Parking Features: Uncovered, Street
  • Attached Garage: No
Interior Features
Interior Features
  • Levels: Two
  • Fireplace Features: None
  • Fireplace Rooms: None
  • Cooling: None
  • Cooling Type: None
  • Heating Type: Other
  • Equipment: Ceiling Fan, Microwave, Water Conditioner, Refrigerator, Ice Maker, Range/Oven, Dishwasher, Freezer
  • Interior Features: Ceiling Fan(s)
  • Common Walls: Attached
Exterior Features
Exterior Features
  • New Construction: No
  • Other Structures: None
Lease Terms
Lease Terms
  • Entry Date: 06-25-2024
  • Tenant Pays: Gas, Electricity
Unit Details
Unit 1 Information
  • Unit Beds: 2
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $.00
  • Unit Actual Rent: $.00
  • Unit Projected Rent: $.00
  • Like Units: 1
Unit 2 Information
  • Unit Beds: 2
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $.00
  • Unit Actual Rent: $.00
  • Unit Projected Rent: $.00
  • Like Units: 2
Unit 3 Information
  • Unit Beds: 2
  • Unit Baths: 2
  • Unit Furnished: No
  • Unit Rent: $2,000.00
  • Unit Actual Rent: $2,000.00
  • Unit Projected Rent: $.00
  • Like Units: 3
Unit 4 Information
  • Unit Beds: 2
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,900.00
  • Unit Actual Rent: $1,900.00
  • Unit Projected Rent: $.00
  • Like Units: 4
Unit Details
  • Unit Type Type: 2106, 2107, 2108, 2109
Tax and Assessed Info
Tax and Assessed Info
  • Assessed Improvement Value: $153,000.00
  • Assessed Improvement Percent: 10.71
  • Assessed Land Value: $1,275,000.00
  • Assessed Land Percent: 89.29
  • Assessed Total Value: $1,428,000.00

Property History for 1925 Wallace Avenue

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 1925 Wallace Avenue

Taxable ValueLand$1,300,500Additions$156,060Total$1,456,560
Tax Record2024$18,497 ($1,541 / month)
Home Facts
Total Finished SqFt3,788 SqFtAbove Grade Finished SqFt3,788 SqFtLot Size8,890 SqFtStyleMulti-Family Res (5+ Units)Year Built1960CountyORANGEAPN422-271-16

Schools near 1925 Wallace Avenue

This home is within Newport-Mesa Unified School District.
Rating
School
Type
Grades
Distance
Public - K to 6
Public - 7 to 8
Public - 9 to 12
Public - K to 6
Rating
School
Distance
Pomona Elementary School
PublicK to 6

Charles W. Tewinkle Middle School
Public7 to 8

Estancia High School
Public9 to 12

Maude B. Davis Elementary School
PublicK to 6

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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1925 Wallace Avenue is a multi-family home for sale in Costa Mesa, CA 92627. This property was listed for sale on June 7, 2024 by Colliers International Greater Los Angel, it's currently listed at $2,850,000. It has been on the market for a total of 166 days and was last sold on August 23, 2021. This listing's school district is Newport-Mesa Unified School District. Nearby schools include Pomona Elementary School, Charles W. Tewinkle Middle School and Estancia High School. 1925 Wallace Avenue is a 8-bed, 5-bath, 3,788 sqft multi-family home built in 1960.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Colliers International Greater Los Angel, Joseph Winkelmann, DRE #01259378

Based on information from one of the following Multiple Listing Services: CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.