246 Walnut Street

Costa Mesa, CA 92627

$2,349,000
Price
5
Beds
3
Baths
2,277 Sq. Ft.
$1,032 / Sq. Ft.
2,277
Sq. Ft.
$1,032
per Sq. Ft.

Description

We are pleased to present the sale of 246 Walnut Street, a 3-unit multifamily property located in the City of Costa Mesa. This pride of ownership property features a favorable mix of units with (2) 2 bedroom / 1 bathroom units and (1) 1 bedroom / 1 bathroom unit. Each bungalow is detached from one another and have been nicely remodeled boasting laminate flooring, quartz countertops, white cabinetry, stainless steel appliances, dual pane windows, and recessed lighting. The property sits on an oversized...We are pleased to present the sale of 246 Walnut Street, a 3-unit multifamily property located in the City of Costa Mesa. This pride of ownership property features a favorable mix of units with (2) 2 bedroom / 1 bathroom units and (1) 1 bedroom / 1 bathroom unit. Each bungalow is detached from one another and have been nicely remodeled boasting laminate flooring, quartz countertops, white cabinetry, stainless steel appliances, dual pane windows, and recessed lighting. The property sits on an oversized lot measuring approximately 11,761 SF and two of the units had a new roofs installed in 2023. Tenants enjoy close proximity to beaches, parks, The Triangle, and all the amenities 17th Street has to offer! This is a rare opportunity to acquire a highly upgraded asset in one of the most desirable rental markets, Eastside Costa Mesa!
  1. Listed by Christopher Maddy • DRE #01946797 • Brokerage DRE #01767484 • Pacific Sotheby's Int'l Realty • 949-294-5408
  2. Listed by Timothy Carr • DRE #01017277 • Brokerage DRE #01767484 • Pacific Sotheby's Int'l Realty

Property Details for 246 Walnut Street

View
None
Parking Spaces Total
1
Private Pool
No
Cooling Type
N/K
Total Units
3.0
Building Type
Detached
Lot Size Source
Assessor
Living Area
2277

Location

Listing Courtesy of Pacific Sotheby's Int'l Realty, Christopher Maddy, DRE #01946797; Pacific Sotheby's Int'l Realty, Timothy Carr, DRE #01017277
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LISTING UPDATED: 04/24/2024 01:28 AM

Property Details for 246 Walnut Street

StatusActive
MLS #NP24079969
Days on Market12
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1937
Lot Size0.27 AC / 11,761 SF
CountyOrange County

Location

Listing Courtesy of Pacific Sotheby's Int'l Realty, Christopher Maddy, DRE #01946797; Pacific Sotheby's Int'l Realty, Timothy Carr, DRE #01017277
Add your commute

Building Information for 246 Walnut Street

Stories1Residences-Year Built1937Building Size-Lot Size0.27 AC / 11,761 SF

Payment Calculator

$13,805 per month

30 year fixed, 7.25% Interest

Principal and Interest

$12,819

Property Taxes

$986

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 246 Walnut Street

Income / Expense / Tax Details
Income Details
  • Gross Income: $0
  • Gross Scheduled Income: $119,040
  • Vacancy Allowance Rate: 3
  • Net Operating Income: $81,354
Expense Details
  • Operating Expense: $34,115
  • New Taxes Expense: $24,665
  • Gardener Expense: $2,400
  • Fuel Expense: $0
  • Pest Control Expense: $600
  • Electric Expense: $0
  • Insurance Expense: $3,000
  • Maintenance Expense: $2,250
  • Trash Expense: $0
  • Water Sewer Expense: $1,200
  • Total Expenses: $34,115
Tax / Assessment Info
  • Tax Tract Number: 516
  • Tax Census Tract: 632.02
  • CFD/Mello-Roos Fee: $0
  • Tax Lot: 193
Community / Development
Community / Development
  • Community Features: Biking, Curbs, Park, Sidewalks
Property / Structure Info
Interior Features
  • Appliances: Dishwasher, Electric Oven, Gas Cooktop, Microwave
  • Equipment: Dishwasher, Gas Or Electric Dryer Hookup, Microwave
  • Interior Features: Ceiling Fan(s), Quartz Counters
  • Room Type: Entry, Kitchen
  • Laundry: Yes
  • Laundry Features: Gas & Electric Dryer Hookup
  • Cooling: None
  • Flooring: Laminate
Exterior Features
  • Window Features: Double Pane Windows
  • Security Features: Carbon Monoxide Detector(s), Smoke Detector(s)
  • Roof: Composition
  • Entry Location: Front
  • Fence: Yes
  • Fence: Vinyl
  • Fencing: Vinyl
  • View Description: None
  • Pool Features: None
  • Pool Description: None
  • Pool: N/K
  • Spa Features: None
Land/Lot Info
  • Lot Features: 0-1 Unit/Acre, Back Yard, Front Yard, Lawn, Lot 10000-19999 Sqft, Sprinkler System
  • Number Of Units: 3
  • Land Lease: No
  • Land Lease Type: Fee
  • Levels: One
  • Water: Public
  • Sewer: Public Sewer
  • Water Source: Public
Parking Info
  • Garage Spaces: 1
  • Parking Garage Spaces: 1
  • Carport Spaces: 0
Property / Structure Info
  • Builders Tract Name: Eastside Central
  • Builders Tract Code: Eastside Central (ECCM)
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: Yes
  • Unit Type Actual Rent: $3,525
  • Unit Type Total Rent: $3,525
  • Unit Type Pro Forma: 3695
  • 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: 0
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $3,400
  • Unit Type Total Rent: $3,400
  • Unit Type Pro Forma: 3495
  • Unit Type Type: 2
Unit 3
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 1
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $2,995
  • Unit Type Total Rent: $2,995
  • Unit Type Pro Forma: 3195
  • Unit Type Type: 3
Unit Information
  • Rent Controlled: No
  • Number Of Buildings: 3
  • Number Of Separate Electric Meters: 2
  • Number Of Separate Gas Meters: 2
  • Number Of Separate Water Meters: 1

Property History for 246 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 246 Walnut Street

Taxable ValueLand$868,561Additions$76,373Total$944,934
Tax Record2023$11,830 ($986 / month)
Home Facts
Beds1Total Finished SqFt600 SqFtAbove Grade Finished SqFt600 SqFtStories1Lot Size11,783 SqFtStyleSingle Family ResidenceYear Built1937CountyORANGEAPN426-273-15

Schools near 246 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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246 Walnut Street is a multi-family home for sale in Costa Mesa, CA 92627. This property was listed for sale on April 22, 2024 by Pacific Sotheby's Int'l Realty, it's currently listed at $2,349,000. It has been on the market for a total of 12 days and was last sold on November 3, 2014. 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. 246 Walnut Street is a 5-bed, 3-bath, 2,277 sqft multi-family home built in 1937.

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 Pacific Sotheby's Int'l Realty, Christopher Maddy, DRE #01946797; Pacific Sotheby's Int'l Realty, Timothy Carr, DRE #01017277

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.