116 E 21st Street, Costa Mesa

$3,250,000

12 Beds
6 Baths
7,280 Sqft
.32 Acres
0 Garages

Pride of ownership, 8 Units, located in highly desired East Costa Mesa, one of Orange County's premier rental markets bordering the affluent city of Newport Beach. From this location tenants enjoy convenient access to world class beaches, the Newport Back Bay Trails, a plethora of hip dining establishments and South Coast Plaza, the nation's largest shopping center on the West Coast. The East 21st Street Apartment Homes have been immaculately maintained by the current ownership with several interior and exterior renovations completed. Improvements include dual pane windows, kitchens, cabinets, granite counters, stand-up showers, remote access iron gates, concrete stairs, new asphalt sealcoat, modern exterior paint scheme and much more. A collection of eight spacious 2 bedroom units with an average size of roughly 910 square feet each. The size of the units and the location, have made these units easy to rent, attracted longer-term tenants and has produced solid income. Current rents average $1,692 and market rents are roughly $1,975 for similar rentals. An excellent investment property for an astute investor with roughly 15% of upside in rental income.

Essential Information
MLS® #NP18267583
Price$3,250,000
Bedrooms12
Bathrooms6.00
Square Footage7,280
Acres0.32
Year Built1963
TypeResidential Income
StatusActive
Community Information
Address116 E 21st Street
AreaEast Costa Mesa (C5)
SubdivisionOther (OTHR)
CityCosta Mesa
CountyOrange
StateCA
Zip Code92627
Amenities
Parking Spaces19
Interior
# of Stories2
StoriesTwo
Exterior
Lot DescriptionLot 10000-19999 Sqft
Additional Information
Date ListedNovember 6th, 2018
Days on Market39
ZoningR2
Listing Details
AgentIgnacio Diaz Jr.(01379930)
OfficeInvestment Capital Real Estate

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Based on information from California Regional Multiple Listing Service, Inc. as of December 17th, 2018 at 11:01am CST. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.

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