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178 E 18Th St, Costa Mesa, CA 92627
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178 E 18Th St Costa Mesa, CA 92627

$1,629,400 Sold Price as of 03/10/2020
  • 8 Beds
  • 4 Baths
  • 3,384 Sq.Ft.
Sold
$1,629,400 Sold Price as of 03/10/2020 Refinance Your Mortgage
Map preview of 178 E 18Th St, Costa Mesa, CA 92627

Property Overview: 178 E 18Th St Costa Mesa, CA has 8 bedrooms, 4 bathrooms, 3,384 living square feet and 7,405 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Agent Remarks: This is the first time this property has ever been offered for sale by the Original ownership/developer family. Well located, value-add opportunity of four units in the very desirable Eastside Costa mesa apartment submarket. There are (4) approximately 850 Sq. Ft. 2-bed, 1-bath units. The owner keeps one unit for their personal use. This unit interior has crown molding, raised panel doors, two tone paint, upgraded door casing, newer baseboards, newer custom kitchen cabinets, recessed lighting, scraped ceilings, dishwasher and custom tiled shower/tub enclosure. There are nice floor to ceilings built-ins in the living rooms of all units. one unit has wide plank flooring throughout, while others have a combination of vinyl, simulated hardwood, and carpet. Bathrooms have vinyl or tile flooring. Each unit has an eating nook and all interior are light and bright. There is a great opportunity privatize and activate the lower front units' front yards by hedging and gating the space to allow residents the privacy and extra living area which can be utilized year round. The building is located walking distance to the 17th Street retail corridor. Income shown is market. See proforma. 7-page Marketing Flyer and Rental Statement.

Listed by Steven Brombal | BRE #00972129 | Kidder Mathews of California
Co-listed by Joshua Rhee | BRE #01914094 | Kidder Mathews of California
Last checked: 9 minutes ago | Last updated: March 22nd, 2022 | Source CRMLS | DOM: 22

Home details

Lot Sq. Ft
7,405
HOA Dues
$0/mo
Year built
1965
Garage
4 Car
Property Type:
Multi Family
Status
Sold
MLS#
OC19275149
City
Costa Mesa
County
Orange
Time on Site
1402 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 4
  • Total # of Buildings: 2
  • # of Electric Meters: 5
  • # of Gas Meters: 5
  • # of Water Meters: 1
Unit Breakdown 1
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 1
  • Garage Spaces: 1
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,666
  • Total Rent: $1,666
  • Pro Forma/Market Rent: $1,995
Unit Breakdown 2
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 1
  • Garage Spaces: 1
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,995
  • Total Rent: $1,995
  • Pro Forma/Market Rent: $1,995
Unit Breakdown 3
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 1
  • Garage Spaces: 1
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,612
  • Total Rent: $1,612
  • Pro Forma/Market Rent: $1,995
Unit Breakdown 4
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 1
  • Garage Spaces: 1
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,700
  • Total Rent: $1,700
  • Pro Forma/Market Rent: $1,995
Multi-Family Income/Expense Information
Property Income and Analysis
  • Cap Rate: 3.9%
  • Gross Rent Multiplier: 17.75
  • Gross Scheduled Income: $95,760
  • Net Operating Income: $66,222
  • Gross Operating Income: $96,007
  • Vacancy Allowance: $2,873
  • Laundry Income: $720
Annual Expense Breakdown
  • Total Operating Expense: $29,785
  • Electric: $0
  • Gas/Fuel: $0
  • New Taxes: $17,867
  • Trash: $0
  • Insurance: $0
  • Water/Sewer: $0

Property Details for 178 E 18Th St

Interior Features
Cooling Information
  • No Cooling
  • None
Heating Information
  • Has Heating
  • Wall Furnace
Laundry Information
  • Has Laundry
  • Community
Fireplace Information
  • No Fireplace
  • None
Room Information
  • Flooring: Laminate, Tile, Vinyl
Interior Features
  • Built-in Features
  • Levels: Two
Exterior Features
Exterior Information
  • Roof: Composition
Exterior Features
  • No Pool
  • Pool Features: None
Lot Details / Garage and Parking
Parking/Garage Information
  • # of Garage Spaces: 4
  • # of Parking Spaces: 8
  • Has Parking
  • Parking Features: Garage Faces Rear
Lot Information
  • Lot Features: Lot 6500-9999, Level, Near Public Transit
  • Lot Size Source: Assessor
  • Common Interest: None
Property Information
  • Common Walls: 1 Common Wall
  • Total # of Units: 4
  • Parcel Number: 42523106
  • Year Built Source: Assessor
  • Property is Attached
  • Property Condition: Repairs Cosmetic, Updated/Remodeled
Homeowners Association, Utilities, Taxes / Assessments
Homeowners Association
  • Is Not Part of Association
Utilities Information
  • Sewer: Public Sewer
  • Water Source: Public
  • Utilities: Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected
Location / Neighborhood
Location Information
  • Subdivision Name: Eastside Central (ECCM)
  • Directions: East of Orange Ave.
  • Road Frontage Type: Alley, City Street
  • Road Surface Type: Alley Paved, Paved
Neighborhood Information
  • Community Features: Sidewalks, Storm Drains, Suburban
View more facts & features

Local Costa Mesa Agent

Sale History for 178 E 18Th St

Last leased for $2,450 on March 16th, 2021

  • March, 2021

  • Mar 17, 2021

    Date

    Leased

    CRMLS: NP21049453

    $2,450

    Price

  • Mar 9, 2021

    Date

    Active

    CRMLS: NP21049453

    $2,450

    Price

  • Listing provided courtesy of CRMLS

    This spacious and bright 2 bedroom, 1 bath upper level apartment will make you feel right at home. Upon entering, you will find a beautifully updated kitchen with plenty of cabinet space, white tile backsplash, and an adjacent dining nook. The living room is very open and comes with custom built ins. The unit also features fresh paint, a completely renovated bathroom, and new faux wood blinds. The property has been upgraded with modern exterior lighting, hardware, and new landscaping. Additional highlights include 1 car garage, bonus parking, and shared on site laundry room.

  • October, 2020

  • Oct 26, 2020

    Date

    Leased

    CRMLS: NP20214884

    $2,450

    Price

  • Oct 12, 2020

    Date

    Active

    CRMLS: NP20214884

    $2,450

    Price

  • Listing provided courtesy of CRMLS

    This 2 bedroom, 1 bath lower level unit has just been completely renovated from head to toe! Upon entering you will find a spacious living area with custom built ins, beautiful faux wood flooring, and a lovely dining nook. The kitchen features brand new stainless steel appliances, white quartz countertops, subway tile backsplash, and gorgeous white cabinets with modern hardware. Both bedrooms are good sizes and come equipped with new white faux wood blinds. The bathroom has been elegantly designed with a new vanity, walk in shower with sliding glass doors, and custom tile throughout. Additional property highlights include 1 car garage, free laundry on site, and easy access to local shopping and restaurants. This home truly has it all!

  • July, 2020

  • Jul 31, 2020

    Date

    Leased

    CRMLS: NP20146588

    $2,200

    Price

  • Jul 23, 2020

    Date

    Active

    CRMLS: NP20146588

    $2,200

    Price

  • Listing provided courtesy of CRMLS

    This spacious and bright 2 bedroom, 1 bath lower level apartment will make you feel right at home. Upon entering, you will find a beautifully updated kitchen with plenty of cabinet space and an adjacent dining nook. The unit also features fresh paint, new blinds, and ample amount of storage. The property was also upgraded with modern exterior lighting, hardware, and new landscaping. Additional highlights include 1 car garage, bonus parking, and shared on site laundry room.

  • March, 2020

  • Mar 11, 2020

    Date

    Sold

    CRMLS: OC19275149

    $1,629,400

    Price

  • Feb 20, 2020

    Date

    Pending

    CRMLS: OC19275149

    $1,699,500

    Price

  • Jan 24, 2020

    Date

    Active Under Contract

    CRMLS: OC19275149

    $1,699,500

    Price

  • Dec 3, 2019

    Date

    Active

    CRMLS: OC19275149

    $1,699,500

    Price

  • March, 2020

  • Mar 10, 2020

    Date

    Sold (Public Records)

    Public Records

    $1,629,500

    Price

Show More

Tax History for 178 E 18Th St

Assessed Value (2020): $386,646
Year Land Value Improved Value Assessed Value
2020 $293,851 $92,795 $386,646

Home Value Compared to the Market

This property vs the competition

178 E 18Th St sold on March 10, 2020 for 24.05% higher than the current median sold price for the city of Costa Mesa which is $1,370,000. The median sold price per/sqft for Costa Mesa is $783 and this home is sold at $502.22 per/sqft which puts the price per square foot 35.86% lower than the current median sale per square foot for the city of Costa Mesa.

About 178 E 18Th St

Detailed summary of property

178 E 18Th St is a multi family that recently sold in Costa Mesa, CA 92627. This multi family property offered 8 bedrooms, 4 bathrooms, roughly 3,384 living square feet, and sits on an approximately 7,405 square foot lot. 178 E 18Th St was first listed on ArdentRealEstateGroup.com on July 4, 2020. The homeowner sold the property for $1,629,400. Home in Costa Mesa are selling for a median price of $1,370,000 and a median price per square foot of $783. Based on Ardent Real Estate Group's Costa Mesa Market Data, this home is sold 24.05% higher than the current median priced home. Local homes that are currently for sale include 2066 S Haster St, 915 W Maple Ave and 310 E Wakefield Ave. While the average home in Costa Mesa, CA is selling in 29 days, 178 E 18Th St has a days on market of 22 days. There are currently 117 homes for sale in the Costa Mesa real estate market and 88 of them are single family homes while 11 of them are condos and 18 are townhomes. For more information on this home for sale at 178 E 18Th St Costa Mesa, CA 92627 contact Ardent Real Estate Group and we will put you in touch with one of our Costa Mesa agents.

Public Facts for 178 E 18Th St

Public county record property details
Beds
--
Baths
--
Year built
1965
Sq. Ft.
3,384
Lot Size
6,924
Stories
2
Type
Commercial (General)
Pool
No
Spa
No
County
Orange
Lot#
132
APN
425-231-06

The source for these homes facts are from public records.

92627 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends
Median List Price
$1,399,000
Median List Price/Sq.Ft.
$843
Median Sold Price
$1,500,000
Median Sold Price/Sq.Ft.
$788
Total Inventory
70
Median Sale to List Price %
100%
Avg Days on Market
28
Loan Type
Conventional (44.44%), FHA (0%), VA (0%), Cash (38.89%), Other (16.67%)

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Recently Sold Homes Near 178 E 18Th St

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187 E 18Th St
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169 E 18th St, Costa Mesa, CA 92627
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163 Magnolia St, Costa Mesa, CA 92627
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Based on information from California Regional Multiple Listing Service, Inc. as of 2019. 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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