164 Walnut Street

Costa Mesa, CA 92627

$3,400,000
Price
11
Beds
6
Baths
3,586 Sq. Ft.
$948 / Sq. Ft.
3,586
Sq. Ft.
$948
per Sq. Ft.

Description

Welcome to 164 Walnut in Costa Mesa - the Capital of Cool. This 6-plex is made up of five 2 bed/1 bath units and one 1 bed/1 bath unit, all of which have been renovated. Unit C has washer and dryer hookups, and there are opportunities to have additional hookups in unit A, B, D and potentially unit F. The property is minutes away from the bustling shopping and dining options on 17th Street, is within easy walking distance to the scenic Upper Newport Back Bay and is encircled by some of the nation's...Welcome to 164 Walnut in Costa Mesa - the Capital of Cool. This 6-plex is made up of five 2 bed/1 bath units and one 1 bed/1 bath unit, all of which have been renovated. Unit C has washer and dryer hookups, and there are opportunities to have additional hookups in unit A, B, D and potentially unit F. The property is minutes away from the bustling shopping and dining options on 17th Street, is within easy walking distance to the scenic Upper Newport Back Bay and is encircled by some of the nation's top public schools. Additionally, tenants have convenient access to the 55 Freeway, providing seamless connectivity to the entire Southern California region. The property is also adjacent to Newport Blvd, a Measure K corridor, which is slated for substantial redevelopment. With ample parking on site, and tucked away in a quiet cul de sac, and an 89 walk score---come quick! Matterport links available for all units, please inquire.
  1. Listed by Christine Morgan • DRE #01839037 • Brokerage DRE #02014153 • Marterra Real Estate • 949-910-1042
  2. Listed by Daniel Morgan • DRE #01901285 • Brokerage DRE #02014153 • Marterra Real Estate

Property Details for 164 Walnut Street

View
None
Parking Spaces Total
11
Private Pool
No
Cooling Type
N/K
Total Units
6.0
Building Type
Attached
Lot Size Source
Assessor
Living Area
3586

Location

Listing Courtesy of Marterra Real Estate, Christine Morgan, DRE #01839037; Marterra Real Estate, Daniel Morgan, DRE #01901285
Add your commute
LISTING UPDATED: 04/25/2024 06:58 AM

Property Details for 164 Walnut Street

StatusActive
MLS #OC24041909
Days on Market57
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1953
CountyOrange County

Location

Listing Courtesy of Marterra Real Estate, Christine Morgan, DRE #01839037; Marterra Real Estate, Daniel Morgan, DRE #01901285
Add your commute

Building Information for 164 Walnut Street

Building/Complex164 Walnut StFloor-Stories1Residences-Pet Policy-Year Built1953Building Size-

Payment Calculator

$20,203 per month

30 year fixed, 7.25% Interest

Principal and Interest

$18,555

Property Taxes

$1,648

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 164 Walnut Street

Income / Expense / Tax Details
Income Details
  • Gross Income: $224,480
  • Gross Scheduled Income: $224,480
  • Vacancy Allowance Rate: 3
  • Gross Operating Income: $217,746
  • Net Operating Income: $161,201
  • Laundry Income: $1,700
  • Other Income Description: RUBS and Pet Rent
  • Other Income 1: $4,500
  • Other Income 2: $1,380
  • Gross Multiplier: 16.5
  • Cap Rate: 4.5
Expense Details
  • Operating Expense: $56,965
  • New Taxes Expense: $40,067
  • Gardener Expense: $2,400
  • Fuel Expense: $1,650
  • Pest Control Expense: $420
  • Electric Expense: $900
  • Insurance Expense: $2,575
  • Maintenance Expense: $4,500
  • Professional Management Expense: $0
  • Trash Expense: $2,803
  • Water Sewer Expense: $1,650
  • Total Expenses: $56,965
Tax / Assessment Info
  • Tax Tract Number: 516
  • Tax Census Tract: 632.02
  • CFD/Mello-Roos Fee: $2,328
  • Tax Lot: 182
Community / Development
Community / Development
  • Assessments YN: No
  • Assessments: None
  • Community Features: Street Lights
Property / Structure Info
Interior Features
  • Appliances: Gas Range, Microwave, Refrigerator, Water Heater
  • Equipment: Inside, Microwave, Refrigerator, Room
  • Interior Features: Quartz Counters, Recessed Lighting
  • Room Type: Family Room, Kitchen, Main Floor Bedroom
  • Bedroom Features: Main Floor Bedroom
  • Laundry: Yes
  • Laundry Features: Individual Room, Inside
  • Laundry Equipment Own Lease: Own
  • Fireplace Features: None
  • Fireplace Rooms: None
  • Cooling: None
  • Heating Type: Wall
  • Heating: Wall Furnace
  • Flooring: Vinyl
Exterior Features
  • Security Features: Carbon Monoxide Detector(s), Smoke Detector(s)
  • Roof: Shingle
  • Entry Location: 1
  • Fence: Yes
  • Fence: Wood
  • Fencing: Wood
  • Foundation Details: Slab
  • Property Condition: Turnkey, Updated/Remodeled
  • View Description: None
  • Pool Features: None
  • Pool Description: None
  • Pool: N/K
  • Spa Features: None
Land/Lot Info
  • Lot Features: Front Yard, Rectangular Lot
  • Number Of Units: 6
  • Land Lease: No
  • Land Lease Type: Fee
  • Road Surface Type: Paved
  • Road Frontage Type: Alley
  • Levels: Two
  • Water: Public
  • Sewer: Public Sewer
  • Utilities: Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected
  • Electric: Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected
  • Water Source: Public
Parking Info
  • Garage Spaces: 5
  • Parking: Yes
  • Parking Garage: Garage, Garage - 1 Car
  • Uncovered Spaces: 6
  • Open Other Spaces Total: 6
  • Parking Garage Spaces: 5
  • Carport Spaces: 0
  • Parking Features: Garage, Garage - Single Door
Unit Information
Unit 1
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 1
  • Unit Type Garage Spaces: 1
  • Unit Type Garage Attached: Yes
  • Unit Type Actual Rent: $3,100
  • Unit Type Total Rent: $3,100
  • Unit Type Pro Forma: 3500
  • Unit Type Type: 1
Unit 2
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 1
  • Unit Type Garage Spaces: 1
  • Unit Type Garage Attached: Yes
  • Unit Type Actual Rent: $3,200
  • Unit Type Total Rent: $3,200
  • Unit Type Pro Forma: 3500
  • Unit Type Type: 2
Unit 3
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 1
  • Unit Type Garage Spaces: 1
  • Unit Type Garage Attached: Yes
  • Unit Type Actual Rent: $3,250
  • Unit Type Total Rent: $3,250
  • Unit Type Pro Forma: 3500
  • Unit Type Type: 3
Unit 4
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 1
  • Unit Type Garage Spaces: 1
  • Unit Type Garage Attached: Yes
  • Unit Type Actual Rent: $3,150
  • Unit Type Total Rent: $3,150
  • Unit Type Pro Forma: 3500
  • Unit Type Type: 4
Unit 5
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 1
  • Unit Type Baths Total: 1
  • Unit Type Garage Spaces: 0
  • Unit Type Actual Rent: $2,400
  • Unit Type Total Rent: $2,400
  • Unit Type Pro Forma: 2750
  • Unit Type Type: 5
Unit 6
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 1
  • Unit Type Garage Spaces: 1
  • Unit Type Actual Rent: $2,975
  • Unit Type Total Rent: $2,975
  • Unit Type Pro Forma: 3150
  • Unit Type Type: 6
Unit Information
  • Number Of Units Leased: 6
  • Rent Controlled: Yes
  • Number Of Buildings: 3
  • Number Of Separate Electric Meters: 5
  • Number Of Separate Gas Meters: 5
  • Number Of Separate Water Meters: 2
  • Number With Range: 6
  • Number With Refrigerator: 6

Property History for 164 Walnut 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 164 Walnut Street

Taxable ValueLand$1,524,974Additions$139,666Total$1,664,640
Tax Record2023$19,779 ($1,648 / month)
Home Facts
Beds1Total Finished SqFt576 SqFtAbove Grade Finished SqFt576 SqFtStories1Lot Size17,524 SqFtStyleSingle Family ResidenceYear Built1953CountyORANGEAPN426-032-16

Schools near 164 Walnut Street

This home is within Newport-Mesa Unified School District.
Rating
School
Type
Grades
Distance
Public - K to 2
Public - 3 to 6
Public - 7 to 8
Public - 9 to 12
Rating
School
Distance
Woodland Elementary School
PublicK to 2

Heinz Kaiser Elementary School
Public3 to 6

Horace Ensign Intermediate School
Public7 to 8

Newport Harbor 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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164 Walnut Street is a multi-family home for sale in Costa Mesa, CA 92627. This property was listed for sale on March 1, 2024 by Marterra Real Estate, it's currently listed at $3,400,000. It has been on the market for a total of 57 days and was last sold on July 29, 2020. This listing's school district is Newport-Mesa Unified School District. Nearby schools include Woodland Elementary School, Heinz Kaiser Elementary School and Horace Ensign Intermediate School. 164 Walnut Street is a 11-bed, 6-bath, 3,586 sqft multi-family home built in 1953.

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. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Marterra Real Estate, Christine Morgan, DRE #01839037; Marterra Real Estate, Daniel Morgan, DRE #01901285

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.