2658 Santa Ana Avenue
2658 Santa Ana Avenue
Costa Mesa, CA 92627
$5,178,000
Price
12
Beds
6
Baths
4,800 Sq. Ft.
$1,079 / Sq. Ft.
4,800
Sq. Ft.
$1,079
per Sq. Ft.
Virtual Tour
Virtual Tour
Description
6 unit complex newly remodeled with rare market value rents so that you aren't below market out of the gate. This 6 unit offers investors the best return for a low and easy management opportunity WITH POTENTIAL FOR ADU AND ADDITIONAL INCOME. 2658 Santa Ana is a lucrative investment opportunity in the heart of Popular Eastside Costa Mesa – a commercial multifamily property that epitomizes turnkey perfection. Ideal for the discerning investor seeking immediate profitability without the hassle of renovations,...6 unit complex newly remodeled with rare market value rents so that you aren't below market out of the gate. This 6 unit offers investors the best return for a low and easy management opportunity WITH POTENTIAL FOR ADU AND ADDITIONAL INCOME. 2658 Santa Ana is a lucrative investment opportunity in the heart of Popular Eastside Costa Mesa – a commercial multifamily property that epitomizes turnkey perfection. Ideal for the discerning investor seeking immediate profitability without the hassle of renovations, this property is poised to deliver both financial success and peace of mind. Strategically located near the 55 Freeway, 17th Street, South Coast Plaza, The Back Bay, and Newport Beach, this multifamily gem is surrounded by desirable amenities and prime destinations. The property comprises six detached bungalows, each with a garage and 1-2 parking spaces, ensuring convenience for both residents and guests. Recently remodeled in late 2022, this property shines with a cohesive aesthetic, presenting near-identical units that showcase meticulous attention to detail. Every aspect of these bungalows has been thoughtfully upgraded, from the new kitchens and baths to the flooring, doors, paint, gutters, and roofing, creating a harmonious living experience. Embrace modern comfort with air-conditioned interiors, featuring three mini-split systems in each bungalow for personalized climate control. Step outside to discover oversized, meticulously landscaped yards, providing residents with a private oasis and an inviting atmosphere for outdoor activities. Unlock additional value with the potential for an Accessory Dwelling Unit (ADU), offering flexibility in usage and increased investment potential. Currently boasting a remarkable 100% occupancy rate at market rents, this property is fully leased up, providing a secure and immediate return on investment. In summary, this commercial multifamily property is more than just an investment; it's a turnkey opportunity for the savvy investor looking to capitalize on a prime location, modern amenities, and a seamless, income-generating property. Secure your stake in the thriving Eastside Costa Mesa community today!
- Listed by Veronica Hicks • DRE #01443184 • Brokerage DRE #01958586 • Condos Etc, Inc • 714-336-5551
Property Details for 2658 Santa Ana Avenue
Architectural Style
Bungalow, Cottage, Mid Century Modern
ViewNone
Parking Spaces Total16
Private PoolNo
Cooling TypeDuctless, Electric, ENERGY STAR Qualified Equipment, Zoned
Total Units6.0
Building TypeDetached
Lot Size SourceAssessor
Location
Listing Courtesy of Condos Etc, Inc, Veronica Hicks, DRE #01443184
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LISTING UPDATED: 03/10/2024 11:54 PM
Property Details for 2658 Santa Ana Avenue
| Status | Active |
|---|---|
| MLS # | NP24028330 |
| Days on Market | 81 |
| Taxes | - |
| HOA Fees | - |
| Condo/Co-op Fees | - |
| Compass Type | Mixed Use |
| MLS Type | Residential Income |
| Year Built | 1959 |
| Lot Size | 0.45 AC / 19,602 SF |
| County | Orange County |
Location
Listing Courtesy of Condos Etc, Inc, Veronica Hicks, DRE #01443184
Add your commute
Virtual Tour
Building Information for 2658 Santa Ana Avenue
Stories1Residences-Year Built1959Building Size-Lot Size0.45 AC / 19,602 SF
Payment Calculator
$31,606 per month
30 year fixed, 7.25% Interest
Principal and Interest
$28,258
Property Taxes
$3,348
HOA Dues
$0
The Payment Calculator is for illustrative purposes only.
Property Information for 2658 Santa Ana Avenue
Rental Info
Rental Info
- Tenant Pays: Cable TV, Electricity, Gas, Telephone
Income / Expense / Tax Details
Income Details
- Gross Income: $269,520
- Gross Scheduled Income: $269,520
- Vacancy Allowance: 8086
- Vacancy Allowance Rate: 3
- Gross Operating Income: $269,520
- Net Operating Income: $186,831
- Number Of Rented Garages: 0
- Garage Rental Rate: $0
- Garage Income: $0
- Laundry Income: $0
- Other Income 1: $0
- Other Income 2: $0
- Gross Multiplier: 19.0
- Cap Rate: 3.6
- Current Financing: Conventional
Expense Details
- Operating Expense: $82,692
- New Taxes Expense: $58,103
- Expense Year: $2,024
- Gardener Expense: $2,400
- Pest Control Expense: $600
- Insurance Expense: $6,000
- Maintenance Expense: $4,800
- Professional Management Expense: $0
- Other Expense: $1,200
- Other Expense Description: Acctg
- Trash Expense: $0
- Water Sewer Expense: $1,500
- Real Estate Tax Expense: $58,103
- Total Expenses: $82,692
Tax / Assessment Info
- Tax Tract Number: 376
- Tax Census Tract: 631.02
- Tax Lot: 75
Community / Development
Community / Development
- Accessibility Features: Doors - Swing In, Entry Slope Less Than 1 Foot, No Interior Steps
- Disability Access: Doors - Swing In, Entry Slope Less than 1 foot, No Interior Steps
- Assessments YN: No
- Assessments: None
- Community Features: Hiking, Preserve/Public Land, Sidewalks, Street Lights, Urban
- Investment Property: Yes
Property / Structure Info
Interior Features
- Appliances: Dishwasher, ENERGY STAR Qualified Appliances, ENERGY STAR Qualified Water Heater, Disposal, Gas Oven, Gas Cooktop, Gas Water Heater, Ice Maker, Range Hood, Refrigerator, Self Cleaning Oven, Water Heater
- Equipment: Dishwasher, Dryer, Dryer Included, Electric Dryer Hookup, Hookup - Electric, Ice Maker, In Closet, Inside, Laundry Closet Stacked, Refrigerator, Stackable W/D Hookup, Washer, Washer Hookup, Washer Included
- Interior Features: Quartz Counters, Stone Counters, Unfurnished, Wired for Data
- Room Type: All Bedrooms Down, Family Room, Kitchen, Living Room, Main Floor Bedroom, Main Floor Primary Bedroom, Primary Bathroom, Primary Bedroom
- Bedroom Features: All Bedrooms Down, Main Floor Bedroom
- Water Heater Features: Gas
- Laundry: Yes
- Laundry Features: Dryer Included, Electric Dryer Hookup, In Closet, Inside, Stackable, Washer Hookup, Washer Included
- Fireplace Features: None
- Fireplace Rooms: None
- Cooling: Ductless, Electric, ENERGY STAR Qualified Equipment, Zoned
- Heating Type: Ductless, Electric, ENERGY STAR Qualified Equipment, Zoned
- Heating: Ductless, Electric, ENERGY STAR Qualified Equipment, Zoned
- Flooring: Laminate
- Virtual Tour URL Branded: https://www.wellcomemat.com/video/54fb06020dce1lhqf/NP24028330/
- Virtual Tour URL Unbranded: https://www.wellcomemat.com/mls/54fb06020dce1lhqf
Exterior Features
- Door Features: Panel Doors
- Window Features: Double Pane Windows, ENERGY STAR Qualified Windows, Insulated Windows
- Construction Materials: Drywall Walls, Stucco
- Exterior Construction: Stucco
- Exterior Features: Rain Gutters
- Entry Location: Santa Ana
- Fence: Yes
- Fence: Vinyl, Wood
- Fencing: Vinyl, Wood
- Foundation Details: Slab
- Property Condition: Turnkey, Updated/Remodeled
- View Description: None
- Pool Features: None
- Pool Description: None
- Spa Features: None
Green Info
- Walk Score: 65
- Green Energy Efficient: Appliances, Water Heater
- Green Water Conservation: Water-Smart Landscaping
Land/Lot Info
- Lot Features: 6-10 Units/Acre, Lot 10000-19999 Sqft, Rectangular Lot, Paved, Sprinkler System, Sprinklers Timer
- Current Use Comments: Residential Rental
- Number Of Units: 6
- Improvements Amount: $1,000,000.00
- Land Lease: No
- Land Lease Type: Fee
- Sprinklers: Yes
- Road Surface Type: Paved, Privately Maintained
- Road Frontage Type: City Street
- Levels: One
- Water: Public
- Sewer: Public Sewer
- Utilities: Cable Available, Cable Connected, Electricity Available, Electricity Connected, Natural Gas Available, Natural Gas Connected, Phone Available, Phone Connected, Sewer Available, Sewer Connected, Water Available, Water Connected
- Electric: Electricity - On Property
- Water Source: Public
Parking Info
- Garage Spaces: 6
- Parking: Yes
- Parking Garage: Assigned
- Uncovered Spaces: 10
- Open Other Spaces Total: 10
- Parking Garage Spaces: 6
- Carport Spaces: 0
- Parking Features: Assigned
Property / Structure Info
- Builders Tract Name: Eastside Central
- Builders Tract Code: Eastside Central (ECCM)
- Building Status: Existing
- Asset Class: Multi-Family
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: $3,775
- Unit Type Total Rent: $45,300
- Unit Type Pro Forma: 45300
- Unit Type Area: 900
- Unit Type Area Units: Square Feet
- Unit Type Type: 1
- Unit Type Description: 900 Sq Ft / Unit Est
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: 1
- Unit Type Garage Attached: Yes
- Unit Type Actual Rent: $3,695
- Unit Type Total Rent: $44,340
- Unit Type Pro Forma: 44340
- Unit Type Type: 2
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: Yes
- Unit Type Actual Rent: $3,695
- Unit Type Total Rent: $44,340
- Unit Type Pro Forma: 44340
- Unit Type Type: 3
Unit 4
- 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: $3,650
- Unit Type Total Rent: $43,800
- Unit Type Pro Forma: 43800
- Unit Type Type: 4
Unit 5
- 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: $3,695
- Unit Type Total Rent: $44,340
- Unit Type Pro Forma: 44340
- Unit Type Type: 5
Unit 6
- 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: $3,950
- Unit Type Total Rent: $47,400
- Unit Type Pro Forma: 47400
- Unit Type Type: 6
Unit Information
- Rent Controlled: Yes
- Number Of Buildings: 6
- Number Of Separate Electric Meters: 6
- Number Of Separate Gas Meters: 6
- Number Of Separate Water Meters: 0
- Number With Dishwasher: 6
- Number With Range: 6
- Number With Refrigerator: 6
- Number With Carpet: 0
- Number With Disposal: 6
- Number With Drapes: 6
- Number With Patio: 6
- Number Wall AC: 18
Property History for 2658 Santa Ana Avenue
| 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 2658 Santa Ana Avenue
Taxable ValueLand$3,278,310Additions$189,690Total$3,468,000
Tax Record2023$40,177 ($3,348 / month)
Home Facts
Total Finished SqFt4,800 SqFtAbove Grade Finished SqFt4,800 SqFtStories1Lot Size19,792 SqFtStyleMulti-Family Res (5+ Units)Year Built1959CountyORANGEAPN439-101-02
Schools near 2658 Santa Ana Avenue
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.
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Listing Courtesy of Condos Etc, Inc, Veronica Hicks, DRE #01443184
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.