432 Hamilton Street

Costa Mesa, CA 92627

$3,750,000
Price
11
Beds
10
Baths
4,522 Sq. Ft.
$829 / Sq. Ft.
4,522
Sq. Ft.
$829
per Sq. Ft.

Description

Pleased to present 432 Hamilton Street, a turnkey 5 Unit apartment complex in Costa Mesa's gentrifying west side neighborhood. This complex offers an excellent 4.8% Cap Rate return at the new tax basis and was recently appraised for $3.87M. Two brand new 2 bedroom, 2 bath apartments, each 775 SF, were constructed in 2024. The previously existing 3 unit building was painstakingly improved and upgraded in 2023 with new kitchen cabinets, stone counter tops, new appliances, fixtures, lighting, vanities,...Pleased to present 432 Hamilton Street, a turnkey 5 Unit apartment complex in Costa Mesa's gentrifying west side neighborhood. This complex offers an excellent 4.8% Cap Rate return at the new tax basis and was recently appraised for $3.87M. Two brand new 2 bedroom, 2 bath apartments, each 775 SF, were constructed in 2024. The previously existing 3 unit building was painstakingly improved and upgraded in 2023 with new kitchen cabinets, stone counter tops, new appliances, fixtures, lighting, vanities, shower enclosures and much more. The exterior of the previously existing 3 unit building has been recently repainted and the all the windows and sliding glass doors are brand new. The 3 unit building includes two large 2 bedroom, 2 bath apartments and one generously sized 3 bedroom, 2 bath apartment. Each unit in the previously existing 3 unit building also enjoys a private patio or balcony, and one of the units has a large yard. Each of the 5 units has a brand new, refrigerator, microwave, and washer/dryer. There are 5 off street parking spaces (3 standard and 2 tandem).
  1. Listed by Mark Simon • DRE #00816134 • Brokerage DRE #01317331 • Berkshire Hathaway Homeservice • 949-872-8322

Property Details for 432 Hamilton Street

Parking Spaces Total
5
Private Pool
No
Total Units
5.0
Building Type
Attached
Lot Size Source
Assessor
Living Area
4522
Assessor Parcel Number
419-171-30
Property Attached YN
true
LISTING UPDATED: 09/27/2024 07:34 AM

Property Details for 432 Hamilton Street

StatusActive
MLS #NP24144841
Days on Market128
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built2024
CountyOrange County

Building Information for 432 Hamilton Street

Building/Complex432 Hamilton StFloor-Stories2Residences-Pet Policy-Year Built2024Building Size-

Property Information for 432 Hamilton Street

Rental Info
Rental Info
  • Tenant Pays: Cable TV, Electricity, Gas
Income / Expense / Tax Details
Income Details
  • Gross Income: $233,820
  • Gross Scheduled Income: $233,820
  • Vacancy Allowance: 8200
  • Net Operating Income: $177,443
  • Cap Rate: 4.56
Expense Details
  • Operating Expense: $39,377
  • Gardener Expense: $600
  • Fuel Expense: $1,090
  • Pest Control Expense: $600
  • Furniture Replacement Expense: $500
  • Electric Expense: $1,090
  • Insurance Expense: $2,635
  • Maintenance Expense: $7,500
  • Professional Management Expense: $0
  • Other Expense: $39,000
  • Other Expense Description: New Tax
  • Trash Expense: $1,090
  • Water Sewer Expense: $1,090
  • Total Expenses: $56,377
Tax / Assessment Info
  • Tax Tract Number: 247
  • Tax Census Tract: 637.02
  • CFD/Mello-Roos Fee: $0
  • Tax Lot: 10
Community / Development
Community / Development
  • Community Features: Curbs, Sidewalks, Urban
Property / Structure Info
Interior Features
  • Appliances: Microwave, Refrigerator
  • Equipment: Dryer, Dryer Included, Microwave, Refrigerator, Washer Hookup
  • Laundry: Yes
  • Laundry Features: Dryer Included, Washer Hookup
Exterior Features
  • Entry Location: 1
  • Property Condition: Turnkey
  • Pool Features: None
  • Pool Description: None
  • Pool: N/K
  • Spa Features: None
Land/Lot Info
  • Lot Features: 2-5 Units/Acre
  • Number Of Units: 5
  • Land Lease: No
  • Land Lease Type: Fee
  • Road Surface Type: Paved
  • Road Frontage Type: City Street
  • Water: Public
  • Sewer: Public Sewer
  • Water Source: Public
Parking Info
  • Garage Spaces: 0
  • Parking: Yes
  • Parking Garage: Driveway
  • Uncovered Spaces: 5
  • Open Other Spaces Total: 5
  • Parking Garage Spaces: 0
  • Carport Spaces: 0
  • Parking Features: Driveway
Unit Information
Unit 1
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 2
  • Unit Type Furnished: Furnished
  • Unit Type Garage Spaces: 0
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $3,495
  • Unit Type Total Rent: $3,495
  • Unit Type Pro Forma: 5000
  • Unit Type Type: 1
Unit 2
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 2
  • Unit Type Furnished: Furnished
  • Unit Type Garage Spaces: 0
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $3,695
  • Unit Type Total Rent: $3,695
  • Unit Type Pro Forma: 5200
  • Unit Type Type: 2
Unit 3
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 3
  • Unit Type Baths Total: 2
  • Unit Type Furnished: Furnished
  • Unit Type Garage Spaces: 0
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $4,495
  • Unit Type Total Rent: $4,495
  • Unit Type Pro Forma: 6000
  • Unit Type Type: 3
Unit 4
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 2
  • Unit Type Furnished: Furnished
  • Unit Type Garage Spaces: 0
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $4,000
  • Unit Type Total Rent: $4,000
  • Unit Type Pro Forma: 4000
  • Unit Type Type: 4
Unit 5
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 2
  • Unit Type Furnished: Furnished
  • Unit Type Garage Spaces: 0
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $4,000
  • Unit Type Total Rent: $4,000
  • Unit Type Pro Forma: 4000
  • Unit Type Type: 5
Unit Information
  • Number Of Units Leased: 3
  • Rent Controlled: No
  • Number Of Buildings: 2
  • Number Of Separate Electric Meters: 5
  • Number Of Separate Gas Meters: 5
  • Number Of Separate Water Meters: 1

Property History for 432 Hamilton Street

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

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

Public Records for 432 Hamilton Street

Taxable ValueLand$1,814,235Additions$210,765Total$2,025,000
Tax Record2024$23,424 ($1,952 / month)
Home Facts
Total Finished SqFt2,972 SqFtAbove Grade Finished SqFt2,972 SqFtLot Size8,795 SqFtStyleTriplexYear Built1977CountyORANGEAPN419-171-30

Schools near 432 Hamilton Street

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

Costa Mesa High School
Public7 to 12

Maude B. Davis Elementary School
PublicK to 6

Back Bay 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.

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432 Hamilton Street is a multi-family home for sale in Costa Mesa, CA 92627. This property was listed for sale on July 16, 2024 by Berkshire Hathaway Homeservice, it's currently listed at $3,750,000. It has been on the market for a total of 128 days and was last sold on November 22, 2023. This listing's school district is Newport-Mesa Unified School District. Nearby schools include College Park Elementary School, Costa Mesa High School and Maude B. Davis Elementary School. 432 Hamilton Street is a 11-bed, 10-bath, 4,522 sqft multi-family home built in 2024.

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 Berkshire Hathaway Homeservice, Mark Simon, DRE #00816134

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.