1018 Mission Drive
1018 Mission Drive
Description
the seller has recently renovated four of the eight units since...Welcome to 1012 & 1018 Mission Drive in the Mesa Del Mar enclave of Costa Mesa. These adjacent four-unit apartment buildings showcase an array of 2-bedroom/1.5-bathroom townhouse-style units, each accompanied by its own private yard. With an average unit size of approximately 1,175 square feet, these residences epitomize comfortable living. The property boasts a substantial community courtyard nestled between the two buildings. Notably,
the seller has recently renovated four of the eight units since 2021, creating an attractive prospect for savvy investors to enhance the remaining four units and leverage competitive market rents. Tenants are offered garages and off-street parking, along with dedicated laundry rooms within each building. The strategic location of the property ensures easy accessibility to the best of Costa Mesa, including renowned destinations such as South Coast Plaza, The Camp, The LAB, and the Harbor Blvd shopping corridor. Additionally, tenants enjoy seamless connectivity with quick access to major freeways, including the 405, 55, and 73 Freeways. This property not only promises a secure investment but also positions itself as an inviting residential haven at the heart of Costa Mesa's vibrant offerings.
- Listed by Nick Gould • DRE #01521955 • Brokerage DRE #02221910 • Gould Group Inc • ng@gouldgroupinc.com
Property Details for 1018 Mission Drive
Location
Property Details for 1018 Mission Drive
| Status | Active |
|---|---|
| MLS # | NP24059586 |
| Days on Market | 34 |
| Taxes | - |
| HOA Fees | - |
| Condo/Co-op Fees | - |
| Compass Type | Multi Family |
| MLS Type | Residential Income |
| Year Built | 1964 |
| County | Orange County |
Location
Building Information for 1018 Mission Drive
Payment Calculator
$26,008 per month
30 year fixed, 7.25% Interest
$24,285
$1,723
$0
Property Information for 1018 Mission Drive
- Tenant Pays: Electricity, Gas
- Gross Income: $276,852
- Gross Scheduled Income: $276,852
- Vacancy Allowance: 8306
- Vacancy Allowance Rate: 3
- Gross Operating Income: $268,546
- Net Operating Income: $178,001
- Laundry Income: $5,712
- Gross Multiplier: 16.07
- Cap Rate: 4.01
- Operating Expense: $90,545
- Operating Expense Percent: 32.70%
- New Taxes Expense: $49,838
- Gardener Expense: $3,000
- Fuel Expense: $4,200
- Pool Expense: $0
- Electric Expense: $3,200
- Insurance Expense: $5,000
- Maintenance Expense: $18,800
- Professional Management Expense: $0
- Trash Expense: $3,907
- Water Sewer Expense: $2,000
- Supplies Expense: $0
- Total Expenses: $90,545
- Tax Tract Number: 3922
- Tax Census Tract: 639.04
- CFD/Mello-Roos Fee: $1,594
- Tax Lot: 24
- Community Features: Biking, Curbs, Gutters, Sidewalks, Storm Drains, Street Lights
- Laundry: Yes
- Laundry Features: Community
- Laundry Equipment Own Lease: Own
- Fireplace Features: None
- Fireplace Rooms: None
- Cooling: None
- Heating Type: Wall
- Heating: Wall Furnace
- Entry Location: 1
- Fence: Yes
- Fencing: Block
- View Description: None
- Pool Features: None
- Pool Description: None
- Pool: N/K
- Additional Parcels Description: 141-662-07
- Lot Features: 6-10 Units/Acre
- Number Of Units: 8
- Land Lease: No
- Land Lease Type: Fee
- Road Surface Type: Alley Paved
- Road Frontage Type: City Street
- Levels: Two
- Water: Public
- Sewer: Public Sewer
- Water Source: Public
- Garage Spaces: 8
- Parking: Yes
- Parking Garage: Assigned, Garage, Private
- Uncovered Spaces: 6
- Open Other Spaces Total: 6
- Parking Garage Spaces: 8
- Carport Spaces: 0
- Parking Features: Assigned, Garage, Off Street, Private
- Unit Type Units Total: 1
- Unit Type Beds Total: 2
- Unit Type Baths Total: 2
- Unit Type Furnished: Unfurnished
- Unit Type Garage Spaces: 1
- Unit Type Garage Attached: No
- Unit Type Actual Rent: $2,956
- Unit Type Total Rent: $2,956
- Unit Type Pro Forma: 3295
- Unit Type Type: 1
- Unit Type Units Total: 1
- Unit Type Beds Total: 2
- Unit Type Baths Total: 2
- Unit Type Furnished: Unfurnished
- Unit Type Garage Spaces: 1
- Unit Type Garage Attached: No
- Unit Type Actual Rent: $2,900
- Unit Type Total Rent: $2,900
- Unit Type Pro Forma: 3295
- Unit Type Type: 2
- Unit Type Units Total: 1
- Unit Type Beds Total: 2
- Unit Type Baths Total: 2
- Unit Type Furnished: Unfurnished
- Unit Type Garage Spaces: 1
- Unit Type Garage Attached: No
- Unit Type Actual Rent: $2,995
- Unit Type Total Rent: $2,995
- Unit Type Pro Forma: 3295
- Unit Type Type: 3
- Unit Type Units Total: 1
- Unit Type Beds Total: 2
- Unit Type Baths Total: 2
- Unit Type Furnished: Unfurnished
- Unit Type Garage Spaces: 1
- Unit Type Garage Attached: No
- Unit Type Actual Rent: $2,805
- Unit Type Total Rent: $2,805
- Unit Type Pro Forma: 3295
- Unit Type Type: 4
- Unit Type Units Total: 1
- Unit Type Beds Total: 2
- Unit Type Baths Total: 2
- Unit Type Furnished: Unfurnished
- Unit Type Garage Spaces: 1
- Unit Type Garage Attached: No
- Unit Type Actual Rent: $2,079
- Unit Type Total Rent: $2,079
- Unit Type Pro Forma: 3295
- Unit Type Type: 5
- Unit Type Units Total: 1
- Unit Type Beds Total: 2
- Unit Type Baths Total: 2
- Unit Type Furnished: Unfurnished
- Unit Type Garage Spaces: 1
- Unit Type Garage Attached: No
- Unit Type Actual Rent: $2,965
- Unit Type Total Rent: $2,965
- Unit Type Pro Forma: 3295
- Unit Type Type: 6
- Unit Type Units Total: 1
- Unit Type Beds Total: 2
- Unit Type Baths Total: 2
- Unit Type Furnished: Unfurnished
- Unit Type Garage Spaces: 1
- Unit Type Garage Attached: No
- Unit Type Actual Rent: $2,900
- Unit Type Total Rent: $2,900
- Unit Type Pro Forma: 3295
- Unit Type Type: 7
- Unit Type Units Total: 1
- Unit Type Beds Total: 2
- Unit Type Baths Total: 2
- Unit Type Furnished: Unfurnished
- Unit Type Garage Spaces: 1
- Unit Type Garage Attached: No
- Unit Type Actual Rent: $2,995
- Unit Type Total Rent: $2,995
- Unit Type Pro Forma: 3295
- Unit Type Type: 8
- Rent Controlled: Yes
- Number Of Buildings: 2
- Number Of Separate Electric Meters: 10
- Number Of Separate Gas Meters: 10
- Number Of Separate Water Meters: 2
Property History for 1018 Mission Drive
| Date | Event & Source | Price | Appreciation |
|---|
| Date | Event & Source | Price |
|---|
For completeness, Compass often displays two records for one sale: the MLS record and the public record.
Public Records for 1018 Mission Drive
Schools near 1018 Mission Drive
Rating | School | Type | Grades | Distance |
|---|---|---|---|---|
| Public - | K to 6 | |||
| Public - | 7 to 12 | |||
| Public - | K to 6 | |||
| Public - | 9 to 12 |
Rating | School | Distance |
|---|---|---|
Sonora Elementary School PublicK to 6 | ||
Costa Mesa High School Public7 to 12 | ||
Maude B. Davis Elementary School PublicK to 6 | ||
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.
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Listing Courtesy of Gould Group Inc, Nick Gould, DRE #01521955
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.