3123 Cinnamon Avenue

Costa Mesa, CA 92626

$2,300,000
Price
9
Beds
8
Baths
4,614 Sq. Ft.
$498 / Sq. Ft.
4,614
Sq. Ft.
$498
per Sq. Ft.

Description

Excellent pride of ownership 4 unit multifamily investment property located inside of Mesa Verde's "Spice Streets." Long term ownership with large upside to increase rental income. Unit mix is three 2 bed/2 bath units and one 3 bed/2 bath unit. Ample parking with five garages and two uncovered parking spaces. Each unit has central air conditioning with extensive renovation in the 3 bedroom unit that also has a large private patio. Onsite laundry facilities available for tenant use. Building is separately...Excellent pride of ownership 4 unit multifamily investment property located inside of Mesa Verde's "Spice Streets." Long term ownership with large upside to increase rental income. Unit mix is three 2 bed/2 bath units and one 3 bed/2 bath unit. Ample parking with five garages and two uncovered parking spaces. Each unit has central air conditioning with extensive renovation in the 3 bedroom unit that also has a large private patio. Onsite laundry facilities available for tenant use. Building is separately metered for gas and electric. Tenants have easy access to shops, restaurants, and are within close proximity to major thoroughfares including the 405 and 55 freeway.
  1. Listed by Sean Riley • DRE #01920511 • Brokerage DRE #00868409 • CB Richard Ellis, Inc.

Property Details for 3123 Cinnamon Avenue

Parcel Number
13950302
Total Units
4.0
Living Area
4614
Source Living Area
Assessor
Area
Mesa Verde (C1)
Vacancy Rate
3%
Lot Size Area
8004
Source Lot Size Area
Assessor
LISTING UPDATED: 01/01/2025 12:01 AM

Property Details for 3123 Cinnamon Avenue

StatusActive
MLS #24-474763
Days on Market9
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1966
Lot Size0.18 AC / 8,004 SF
CountyOrange County

Building Information for 3123 Cinnamon Avenue

Stories2Residences-Year Built1966Building Size-Lot Size0.18 AC / 8,004 SF

Property Information for 3123 Cinnamon Avenue

Community / Development
Community / Development
  • Number Of Units: 4
  • Senior Community: No
Structure Info
Structure Info
  • Year Built Source: Vendor Enhanced
  • Number Of Stories: 2
  • Number Of Buildings: 1
  • Type Of Units: Apartments
  • 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: Scheduled
  • Gross Operating Income: $114,945
  • Net Operating Income: $75,120.00
  • Gross Income: $118,500
  • Gross Rent Multiplier: $19.41
  • Owner Pays: Water, Gardener
  • Total Annual Expense: 39825
Land / Lot Info
Land / Lot Info
  • Land Lease Type: Fee
  • Land Lease: No
  • Lot Acreage: 0.18
  • Lot Size Square Feet: 8004
  • Lot Size Dimensions: 79x101
  • Source Lot Size Dimensions: Vendor Enhanced
Parking Details
Parking Details
  • Parking Garage: Garage - 1 Car, Garage - 2 Car, Uncovered
  • Total Parking: 7
  • Open Other Spaces Total: 2
  • Garage Spaces Total: 5
  • Parking Features: Garage - Single Door, Garage - Two Door, Uncovered
Interior Features
Interior Features
  • Levels: Two
  • Cooling: Central Air
  • Cooling Type: Central
  • Heating: Central
  • Heating Type: Central
  • Equipment: Other
  • Common Walls: Attached
  • Laundry: Laundry Area
Exterior Features
Exterior Features
  • New Construction: No
  • Other Structures: None
Lease Terms
Lease Terms
  • Entry Date: 12-27-2024
Unit Details
Unit 1 Information
  • Unit Beds: 3
  • Unit Baths: 2
  • Unit Furnished: No
  • Unit Rent: $3,200.00
  • Unit Actual Rent: $3,200.00
  • Unit Projected Rent: $3,500.00
  • Like Units: 1
Unit 2 Information
  • Unit Beds: 2
  • Unit Baths: 2
  • Unit Furnished: No
  • Unit Rent: $2,250.00
  • Unit Actual Rent: $2,250.00
  • Unit Projected Rent: $3,000.00
  • Like Units: 1
Unit 3 Information
  • Unit Beds: 2
  • Unit Baths: 2
  • Unit Furnished: No
  • Unit Rent: $2,025.00
  • Unit Actual Rent: $2,025.00
  • Unit Projected Rent: $3,000.00
  • Like Units: 1
Unit 4 Information
  • Unit Beds: 2
  • Unit Baths: 2
  • Unit Furnished: No
  • Unit Rent: $2,250.00
  • Unit Actual Rent: $2,250.00
  • Unit Projected Rent: $3,000.00
  • Like Units: 1
Unit Details
  • Unit Type Type: 2106, 2107, 2108, 2109
Tax and Assessed Info
Tax and Assessed Info
  • Assessed Improvement Value: $206,662.00
  • Assessed Improvement Percent: 17.23
  • Assessed Land Value: $992,722.00
  • Assessed Land Percent: 82.77
  • Assessed Total Value: $1,199,384.00

Property History for 3123 Cinnamon 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 3123 Cinnamon Avenue

Taxable ValueLand$1,012,576Additions$210,795Total$1,223,371
Tax Record2024$14,564 ($1,214 / month)
Home Facts
Total Finished SqFt4,614 SqFtAbove Grade Finished SqFt4,614 SqFtStories2Lot Size8,004 SqFtStyleQuadraplexYear Built1966CountyORANGEAPN139-503-02

Schools near 3123 Cinnamon 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 - 9 to 12
Rating
School
Distance
California Elementary School
PublicK to 6

Charles W. Tewinkle Middle School
Public7 to 8

Estancia High School
Public9 to 12

Early College High School
Public9 to 12

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.

Similar Homes

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3123 Cinnamon Avenue is a multi-family home for sale in Costa Mesa, CA 92626. This property was listed for sale on December 24, 2024 by CB Richard Ellis, Inc., it's currently listed at $2,300,000. It has been on the market for a total of 9 days and was last sold on March 22, 2008. This listing's school district is Newport-Mesa Unified School District. Nearby schools include California Elementary School, Charles W. Tewinkle Middle School and Estancia High School. 3123 Cinnamon Avenue is a 9-bed, 8-bath, 4,614 sqft multi-family home built in 1966.

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 CB Richard Ellis, Inc., Sean Riley, DRE #01920511

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.