758 West 20th Street

Costa Mesa, CA 92627

$1,775,000
Last Sold Price
8
Beds
4
Baths
3,384 Sq. Ft.
$525 / Sq. Ft.
3,384
Sq. Ft.
$525
per Sq. Ft.

Description

Unlock the potential of this four-unit property in a prime Westside location of Costa Mesa! This property offers tremendous upside potential for investors looking to capitalize on below-market rents and increasing equity. Each of the four 2-bedroom, 1-bathroom units comes with its own garage, offering a desirable and convenient layout for tenants. All units are currently tenant-occupied on a month-to-month basis, presenting an incredible opportunity for the new owner to make upgrades and increase...Unlock the potential of this four-unit property in a prime Westside location of Costa Mesa! This property offers tremendous upside potential for investors looking to capitalize on below-market rents and increasing equity. Each of the four 2-bedroom, 1-bathroom units comes with its own garage, offering a desirable and convenient layout for tenants. All units are currently tenant-occupied on a month-to-month basis, presenting an incredible opportunity for the new owner to make upgrades and increase rents to market levels. With rents currently well below market value, this property is ideal for an investor looking to renovate and reposition. Inquire with the City to see if an ADU can be constructed either on top of the garage or built on the existing large 9,211 sqft lot. Market rents in the area for similar units are estimated at $2,700 per unit, giving the new owner the chance to bring the monthly gross income to over $11,000, and offers the investor a fantastic opportunity with generating a 5%+ cap rate; thereby making it an excellent addition to any real estate portfolio. Whether you’re an experienced investor or looking for your first multi-unit property, this gem of a building promises long-term growth and significant returns. Situated in a highly desirable area, close to shopping, dining, freeway and just minutes from the beach, this is a can't-miss opportunity for those seeking both cash flow and future appreciation. Whether you plan to improve and hold...or renovate and resell, the upside is undeniable. This is your chance to create significant equity while tapping into the strong rental demand in this vibrant community. This is your chance to secure a property with significant equity upside and tap into Costa Mesa’s growing rental market. Don’t miss out—opportunities like this are few and far between!
  1. Listed by Ramzi Ataya • DRE #01265136 • Brokerage DRE #01976469 • Engel & Voelkers Newport Beach • 714.404.0606

Property Details for 758 West 20th Street

View
None
Parking Spaces Total
4
Private Pool
No
Cooling Type
N/K
Total Units
4.0
Building Type
Attached
Lot Size Source
Assessor
Living Area
3384
LISTING UPDATED: 11/20/2024 01:01 AM

Property Details for 758 West 20th Street

StatusClosed
MLS #OC24207896
Days on Market14
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1972
Lot Size0.21 AC / 9,211 SF
CountyOrange County

Building Information for 758 West 20th Street

Stories2Residences-Year Built1972Building Size-Lot Size0.21 AC / 9,211 SF

Property Information for 758 West 20th Street

Rental Info
Rental Info
  • Tenant Pays: Electricity, Gas
Income / Expense / Tax Details
Income Details
  • Gross Income: $102,912
  • Gross Scheduled Income: $102,912
  • Vacancy Allowance Rate: 0
  • Gross Operating Income: $102,912
  • Net Operating Income: $68,126
  • Gross Multiplier: 17.49
  • Cap Rate: 3.78
  • Financing: Cash
Expense Details
  • Operating Expense: $34,786
  • Operating Expense Percent: 33.80%
  • Gardener Expense: $1,800
  • Fuel Expense: $0
  • Electric Expense: $0
  • Insurance Expense: $2,400
  • Maintenance Expense: $3,087
  • Maintenance Percent: 3.00%
  • Other Expense: $1,727
  • Other Expense Description: Assmnt
  • Trash Expense: $3,672
  • Water Sewer Expense: $3,200
  • Total Expenses: $34,786
Tax / Assessment Info
  • Tax Block: B
  • Tax Tract Number: 612
  • Tax Census Tract: 637.01
  • CFD/Mello-Roos Fee: $1,727
  • Tax Lot: 39
Community / Development
Community / Development
  • Assessments YN: Yes
  • Assessments: Special Assessments, Buyer to Verify
  • Community Features: Sidewalks, Storm Drains, Street Lights
Property / Structure Info
Interior Features
  • Laundry: No
  • Laundry Features: None
  • Fireplace Features: None
  • Fireplace Rooms: None
  • Cooling: None
  • Heating Type: Forced Air
  • Heating: Forced Air
  • Heat Equipment: Forced Air Unit
Exterior Features
  • Entry Location: 1st & 2nd Floors
  • View Description: None
  • Pool Features: None
  • Pool Description: None
  • Pool: N/K
  • Spa Features: None
Land/Lot Info
  • Lot Features: 0-1 Unit/Acre
  • Number Of Units: 4
  • Land Lease: No
  • Land Lease Type: Fee
  • Levels: Two
  • Water: Public
  • Sewer: Public Sewer
  • Water Source: Public
Parking Info
  • Garage Spaces: 4
  • Parking Garage Spaces: 4
  • Carport Spaces: 0
Property / Structure Info
  • Builders Tract Name: Other
  • Builders Tract Code: Other (OTHR)
Unit Information
Unit 1
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 1
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $2,136
  • Unit Type Total Rent: $2,136
  • Unit Type Pro Forma: 2700
  • Unit Type Type: 1
Unit 2
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 1
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $2,168
  • Unit Type Total Rent: $2,168
  • Unit Type Pro Forma: 2700
  • Unit Type Type: 2
Unit 3
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 1
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $2,136
  • Unit Type Total Rent: $2,136
  • Unit Type Pro Forma: 2700
  • Unit Type Type: 3
Unit 4
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 1
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $2,136
  • Unit Type Total Rent: $2,136
  • Unit Type Pro Forma: 2700
  • Unit Type Type: 4
Unit Information
  • Rent Controlled: No
  • Number Of Buildings: 1
  • Number Of Separate Electric Meters: 5
  • Number Of Separate Gas Meters: 4
  • Number Of Separate Water Meters: 1

Property History for 758 West 20th 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 758 West 20th Street

Taxable ValueLand$875,317Additions$191,020Total$1,066,337
Tax Record2024$13,084 ($1,090 / month)
Home Facts
Total Finished SqFt3,384 SqFtAbove Grade Finished SqFt3,384 SqFtLot Size9,211 SqFtStyleMulti-Family Dwelling (2-4)Year Built1972CountyORANGEAPN422-281-19

Schools near 758 West 20th Street

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.

Similar Homes

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Similar Sold Homes

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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 Engel & Voelkers Newport Beach, Ramzi Ataya, DRE #01265136

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.