1970 Wallace Avenue

Costa Mesa, CA 92627

$4,093,200
Last Sold Price
14
Beds
10
Baths
7,267 Sq. Ft.
$563 / Sq. Ft.
7,267
Sq. Ft.
$563
per Sq. Ft.

Description

FIRST TIME ON THE MARKET in 40 + years. This 10- unit building is very stable with low turnover. The property features 4- 2 bedrooms and 6- 1-bedroom units with the downstair units each having patios. Parking is found with garages and parking at the rear. The building has a central water heater and on-site laundry. Lush trees line the courtyard making for shade in the summer months. Close to shopping at Placentia & 19th street and easy freeway access .FIRST TIME ON THE MARKET in 40 + years. This 10- unit building is very stable with low turnover. The property features 4- 2 bedrooms and 6- 1-bedroom units with the downstair units each having patios. Parking is found with garages and parking at the rear. The building has a central water heater and on-site laundry. Lush trees line the courtyard making for shade in the summer months. Close to shopping at Placentia & 19th street and easy freeway access .
  1. Listed by Laura Henshall • DRE #01091181 • Brokerage DRE #00853506 • CFG Investments

Property Details for 1970 Wallace Avenue

View
None
Parking Spaces Total
19
Private Pool
No
Cooling Type
N/K
Total Units
10.0
Building Type
Attached
Lot Size Source
Assessor
Living Area
7267

Location

Listing Courtesy of CFG Investments, Laura Henshall, DRE #01091181

Sold By NONMEMBER MRML, michael brinkman, DRE #00926356

Add your commute
LISTING UPDATED: 07/15/2022 08:11 AM

Property Details for 1970 Wallace Avenue

StatusClosed
MLS #OC22110981
Days on Market4
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1970
Lot Size0.44 AC / 19,166 SF
CountyOrange County

Location

Listing Courtesy of CFG Investments, Laura Henshall, DRE #01091181

Sold By NONMEMBER MRML, michael brinkman, DRE #00926356

Add your commute

Building Information for 1970 Wallace Avenue

Stories2Residences-Year Built1970Building Size-Lot Size0.44 AC / 19,166 SF

Payment Calculator

$26,256 per month

30 year fixed, 7.25% Interest

Principal and Interest

$22,338

Property Taxes

$3,918

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 1970 Wallace Avenue

Rental Info
Rental Info
  • Tenant Pays: None
Income / Expense / Tax Details
Income Details
  • Gross Income: $181,620
  • Gross Scheduled Income: $181,620
  • Gross Operating Income: $181,620
  • Net Operating Income: $99,999,999
  • Number Of Rented Garages: 0
  • Garage Rental Rate: $0
  • Garage Income: $0
  • Laundry Income: $2,788
  • Other Income Description: RUBS for house utilities $922.
  • Financing: Cash
Expense Details
  • Operating Expense: $9,999,999
  • New Taxes Expense: $43,400
  • Gardener Expense: $4,220
  • Fuel Expense: $2,532
  • Pest Control Expense: $934
  • Electric Expense: $1,846
  • Insurance Expense: $9,179
  • Professional Management Expense: $12,333
  • Trash Expense: $2,232
  • Water Sewer Expense: $6,935
  • Total Expenses: $99,999,999
Tax / Assessment Info
  • Tax Block: F
  • Tax Tract Number: 612
  • Tax Census Tract: 637.01
  • CFD/Mello-Roos Fee: $2,977
  • Tax Lot: 6
Community / Development
Community / Development
  • Assessments YN: No
  • Assessments: None
  • Community Features: Sidewalks
Property / Structure Info
Interior Features
  • Laundry: Yes
  • Laundry Features: Community
  • Laundry Equipment Own Lease: Lease
  • Fireplace Features: None
  • Fireplace Rooms: None
  • Cooling: None
  • Heating Type: Wall
  • Heating: Wall Furnace
Exterior Features
  • Roof: Flat
  • View Description: None
  • Pool Features: None
  • Pool Description: None
  • Pool: N/K
  • Spa Features: None
Land/Lot Info
  • Lot Features: Rectangular Lot
  • Number Of Units: 10
  • Land Lease: No
  • Land Lease Type: Fee
  • Levels: Two
  • Water: Public
  • Sewer: Public Sewer
  • Water Source: Public
Parking Info
  • Garage Spaces: 10
  • Parking: Yes
  • Parking Garage: Assigned, Garage
  • Uncovered Spaces: 9
  • Open Other Spaces Total: 9
  • Parking Garage Spaces: 10
  • Carport Spaces: 0
  • Parking Features: Assigned, Garage
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: $1,575
  • Unit Type Total Rent: $1,575
  • Unit Type Pro Forma: 2200
  • Unit Type Type: 1
Unit 2
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 1
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 1
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $1,330
  • Unit Type Total Rent: $1,330
  • Unit Type Pro Forma: 1695
  • Unit Type Type: 10
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: $1,545
  • Unit Type Total Rent: $1,545
  • Unit Type Pro Forma: 2200
  • Unit Type Type: 2
Unit 4
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 1
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 1
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $1,545
  • Unit Type Total Rent: $1,545
  • Unit Type Pro Forma: 1725
  • Unit Type Type: 3
Unit 5
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 1
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 1
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $1,315
  • Unit Type Total Rent: $1,315
  • Unit Type Pro Forma: 1725
  • Unit Type Type: 4
Unit 6
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 1
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 1
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $1,575
  • Unit Type Total Rent: $1,575
  • Unit Type Pro Forma: 1725
  • Unit Type Type: 5
Unit 7
  • 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: $1,575
  • Unit Type Total Rent: $1,575
  • Unit Type Pro Forma: 2100
  • Unit Type Type: 6
Unit 8
  • 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: $1,765
  • Unit Type Total Rent: $1,765
  • Unit Type Pro Forma: 2100
  • Unit Type Type: 7
Unit 9
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 1
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 1
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $1,595
  • Unit Type Total Rent: $1,595
  • Unit Type Pro Forma: 1695
  • Unit Type Type: 8
Unit 10
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 1
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 1
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $1,315
  • Unit Type Total Rent: $1,315
  • Unit Type Pro Forma: 1695
  • Unit Type Type: 9
Unit Information
  • Number Of Units Leased: 10
  • Rent Controlled: Yes
  • Number Of Buildings: 3
  • Number Of Separate Electric Meters: 11
  • Number Of Separate Gas Meters: 11
  • Number Of Separate Water Meters: 1
  • Number With Dishwasher: 0
  • Number With Range: 10
  • Number With Refrigerator: 0
  • Number With Disposal: 10
  • Number Wall AC: 0

Property History for 1970 Wallace Avenue

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

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

Public Records for 1970 Wallace Avenue

Taxable ValueLand$3,718,500Additions$375,000Total$4,093,500
Tax Record2023$47,012 ($3,918 / month)
Home Facts
Total Finished SqFt7,267 SqFtAbove Grade Finished SqFt7,267 SqFtLot Size18,364 SqFtStyleMulti-Family Res (5+ Units)Year Built1966CountyORANGEAPN422-262-08

Schools near 1970 Wallace Avenue

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

Listing Courtesy of CFG Investments, Laura Henshall, DRE #01091181

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.