1762 Kenwood Place

Costa Mesa, CA 92627

$3,525,000
Price
3
Beds
10
Baths
6,771 Sq. Ft.
$521 / Sq. Ft.
6,771
Sq. Ft.
$521
per Sq. Ft.

Description

Kenwood Place Apartments is an 8-unit multifamily investment property located in Costa Mesa, California. Built in 1961, the single-story property offers a mix of 6, one-bedroom units and 2, two-bedroom units. Amenities at Kenwood Place Apartments include ample carport and surface parking, in-unit laundry hookups, private patios, and an on-site laundry facility. Current ownership has invested significant capital into interior and exterior improvements with desirable upgrades including fresh paint,...Kenwood Place Apartments is an 8-unit multifamily investment property located in Costa Mesa, California. Built in 1961, the single-story property offers a mix of 6, one-bedroom units and 2, two-bedroom units. Amenities at Kenwood Place Apartments include ample carport and surface parking, in-unit laundry hookups, private patios, and an on-site laundry facility. Current ownership has invested significant capital into interior and exterior improvements with desirable upgrades including fresh paint, vinyl flooring, quartz countertops, stainless steel appliances, shaker-style cabinetry, and more. The property benefits from its unparalleled Costa Mesa location, in close proximity of parks as well as schools belonging to the highly rated Newport-Mesa Unified School District. Residents at Kenwood Place Apartments enjoy convenient access to an abundance of everyday needs as well as dining and entertainment options at Triangle Square and Costa Mesa Courtyards. Additionally, the property is just 0.30 miles 17th Street a 1.25-mile retail corridor that features a plethora of grocers, retailers restaurants, and bars. Furthermore, Kenwood Place Apartments is just over 1.30 miles from the Balboa Peninsula, home to some of Newport’s most famous retail, dining, and recreation hotspots. The property benefits from it’s close proximity to State Route 55 & Pacific Coast Highway, connecting residents to employment hubs throughout Southern California. The Costa Mesa submarket is among the strongest performing areas in metro Orange County, with an average occupancy of 96.5 percent (Q4 2023) and average year-over-year effective rent growth of 8.9 percent (between 2021 to 2023), demonstrating the strong demand for rental housing. Costa Mesa’s coastal location, strong economic growth, and unmatched local attractions have made it one of Southern California’s most desirable and versatile markets. Given the Coastal Orange County location, the property offers an investor the ability to capture quality tenants seeking a convenient location with access to a wide variety of area amenities. This overall demand for well-located apartments will be a key driver in the continued growth at Kenwood Place Apartments.
  1. Listed by Tyler Leeson • DRE #01451551 • Brokerage DRE #00530854 • Marcus & Millichap RE Invest • 714-713-9086

Property Details for 1762 Kenwood Place

Parking Spaces Total
16
Private Pool
No
Total Units
8.0
Building Type
Detached
Lot Size Source
Assessor
Living Area
6771
Assessor Parcel Number
424-263-11
Property Attached YN
false

Location

Listing Courtesy of Marcus & Millichap RE Invest, Tyler Leeson, DRE #01451551
Add your commute
LISTING UPDATED: 05/30/2024 07:45 AM

Property Details for 1762 Kenwood Place

StatusPending
MLS #OC24096634
Days on Market4
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1961
CountyOrange County

Location

Listing Courtesy of Marcus & Millichap RE Invest, Tyler Leeson, DRE #01451551
Add your commute

Building Information for 1762 Kenwood Place

Building/Complex1762 Kenwood PlFloor-Stories1Residences-Pet Policy-Year Built1961Building Size-

Payment Calculator

$22,023 per month

30 year fixed, 7.25% Interest

Principal and Interest

$19,237

Property Taxes

$2,786

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 1762 Kenwood Place

Income / Expense / Tax Details
Income Details
  • Gross Income: $230,785
  • Gross Scheduled Income: $229,920
  • Vacancy Allowance: 6898
  • Vacancy Allowance Rate: 3
  • Gross Operating Income: $223,022
  • Net Operating Income: $154,733
  • Other Income Description: Misc
  • Other Income 1: $865
  • Gross Multiplier: 15.27
  • Cap Rate: 4.39
Expense Details
  • Operating Expense: $69,154
  • Operating Expense Percent: 30.90%
  • New Taxes Expense: $36,953
  • Fuel Expense: $725
  • Electric Expense: $725
  • Insurance Expense: $6,000
  • Maintenance Expense: $5,600
  • Professional Management Expense: $0
  • Other Expense: $20,601
  • Other Expense Description: Misc
  • Trash Expense: $725
  • Water Sewer Expense: $727
  • Total Expenses: $69,154
Tax / Assessment Info
  • Tax Tract Number: 2584
  • Tax Census Tract: 636.05
  • CFD/Mello-Roos Fee: $5,499
  • Tax Lot: 43
Community / Development
Community / Development
  • Community Features: Curbs, Gutters, Sidewalks
Property / Structure Info
Interior Features
  • Laundry: Yes
  • Laundry Features: Community
Exterior Features
  • Entry Location: First level
  • Pool Features: None
  • Pool Description: None
  • Pool: N/K
Land/Lot Info
  • Lot Features: Level with Street
  • Number Of Units: 8
  • Land Lease: No
  • Land Lease Type: Fee
  • Topography: Level
  • Levels: One
  • Water: Public
  • Sewer: Public Sewer
  • Water Source: Public
Parking Info
  • Garage Spaces: 0
  • Uncovered Spaces: 8
  • Open Other Spaces Total: 8
  • Parking Garage Spaces: 0
  • Carport Spaces: 8
Property / Structure Info
  • Builders Tract Name: Westside Costa Mesa South
  • Builders Tract Code: Westside Costa Mesa South (WSCM)
Unit Information
Unit 1
  • Unit Type Units Total: 6
  • Unit Type Beds Total: 1
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Actual Rent: $13,470
  • Unit Type Total Rent: $13,470
  • Unit Type Pro Forma: 14970
  • Unit Type Type: 1
Unit 2
  • Unit Type Units Total: 2
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 2
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Actual Rent: $5,690
  • Unit Type Total Rent: $5,690
  • Unit Type Pro Forma: 6390
  • Unit Type Type: 2
Unit Information
  • Rent Controlled: No
  • Number Of Buildings: 1
  • Number Of Separate Electric Meters: 8
  • Number Of Separate Gas Meters: 8
  • Number Of Separate Water Meters: 1

Property History for 1762 Kenwood Place

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

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

Public Records for 1762 Kenwood Place

Taxable ValueLand$2,397,406Additions$267,015Total$2,664,421
Tax Record2023$33,430 ($2,786 / month)
Home Facts
Total Finished SqFt6,771 SqFtAbove Grade Finished SqFt6,771 SqFtLot Size20,947 SqFtStyleMulti-Family Res (5+ Units)Year Built1961CountyORANGEAPN424-263-11

Schools near 1762 Kenwood Place

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 12
Rating
School
Distance
Everett A. Rea Elementary School
PublicK to 6

Horace Ensign Intermediate School
Public7 to 8

Newport Harbor High School
Public9 to 12

Monte Vista High School
PublicK 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

Sorry, we can't find any similar homes at this time. Please check back later.

Similar Sold Homes

Sorry, we can't find any similar sold homes at this time. Please check back later.

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 Marcus & Millichap RE Invest, Tyler Leeson, DRE #01451551

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.