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1970 Wallace Ave, Costa Mesa, CA 92627
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1970 Wallace Ave Costa Mesa, CA 92627

$4,093,200 Sold Price as of 07/15/2022
  • 14 Beds
  • 10 Baths
  • 7,267 Sq.Ft.
Sold
$4,093,200 Sold Price as of 07/15/2022 Refinance Your Mortgage
Map preview of 1970 Wallace Ave, Costa Mesa, CA 92627

Property Overview: 1970 Wallace Ave Costa Mesa, CA has 14 bedrooms, 10 bathrooms, 7,267 living square feet and 19,166 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Agent Remarks: 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 .

Listed by Laura Henshall | BRE #01091181 | CFG Investments
Last checked: 9 minutes ago | Last updated: July 26th, 2022 | Source CRMLS | DOM: 4

Home details

Lot Sq. Ft
19,166
HOA Dues
$0/mo
Year built
1970
Garage
10 Car
Property Type:
Multi Family
Status
Sold
MLS#
OC22110981
City
Costa Mesa
County
Orange
Time on Site
767 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 10
  • Total # of Buildings: 3
  • # of Leased Units: 10
  • # of Electric Meters: 11
  • # of Gas Meters: 11
  • # of Water Meters: 1
Unit Breakdown 1
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Garage Spaces: 1
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,575
  • Total Rent: $1,575
  • Pro Forma/Market Rent: $1,725
Unit Breakdown 2
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Garage Spaces: 1
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,330
  • Total Rent: $1,330
  • Pro Forma/Market Rent: $1,695
Unit Breakdown 3
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Garage Spaces: 1
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,315
  • Total Rent: $1,315
  • Pro Forma/Market Rent: $1,725
Unit Breakdown 4
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 1
  • Garage Spaces: 1
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,545
  • Total Rent: $1,545
  • Pro Forma/Market Rent: $2,200
Unit Breakdown 5
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 1
  • Garage Spaces: 1
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,575
  • Total Rent: $1,575
  • Pro Forma/Market Rent: $2,100
Unit Breakdown 6
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 1
  • Garage Spaces: 1
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,765
  • Total Rent: $1,765
  • Pro Forma/Market Rent: $2,100
Unit Breakdown 7
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Garage Spaces: 1
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,595
  • Total Rent: $1,595
  • Pro Forma/Market Rent: $1,695
Unit Breakdown 8
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Garage Spaces: 1
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,315
  • Total Rent: $1,315
  • Pro Forma/Market Rent: $1,695
Unit Breakdown 9
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 1
  • Garage Spaces: 1
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,575
  • Total Rent: $1,575
  • Pro Forma/Market Rent: $2,200
Unit Breakdown 10
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Garage Spaces: 1
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,545
  • Total Rent: $1,545
  • Pro Forma/Market Rent: $1,725
Multi-Family Income/Expense Information
Property Income and Analysis
  • Gross Rent Multiplier: --
  • Gross Scheduled Income: $181,620
  • Net Operating Income: $99,999,999
  • Gross Operating Income: $181,620
  • # of Rented Garages: 0
  • Garage Rental Rate: $0
  • Garage Rental Income: $0
  • Laundry Income: $2,788
  • Laundry Own/Lease: Lease
  • Other Income Description: RUBS for house utilities $922.
Annual Expense Breakdown
  • Total Operating Expense: $9,999,999
  • Electric: $1,846
  • Gas/Fuel: $2,532
  • New Taxes: $43,400
  • Trash: $2,232
  • Gardener: $4,220
  • Insurance: $9,179
  • Professional Management: $12,333
  • Water/Sewer: $6,935

Property Details for 1970 Wallace Ave

Interior Features
Cooling Information
  • No Cooling
  • None
Heating Information
  • Has Heating
  • Wall Furnace
Laundry Information
  • Has Laundry
  • Community
Fireplace Information
  • No Fireplace
  • None
Interior Features
  • Levels: Two
Exterior Features
Exterior Information
  • Roof: Flat
  • No Spa
  • Spa Features: None
Exterior Features
  • No Pool
  • Pool Features: None
Lot Details / Garage and Parking
Parking/Garage Information
  • # of Garage Spaces: 10
  • # of Parking Spaces: 19
  • Has Parking
  • Parking Features: Assigned, Garage
Lot Information
  • Lot Features: Rectangular Lot
  • Lot Size Source: Assessor
  • Common Interest: None
Property Information
  • No View
  • View: None
  • Common Walls: 2+ Common Walls
  • Total # of Units: 10
  • Parcel Number: 42226208
  • Year Built Source: Assessor
  • Property is Attached
Homeowners Association, Utilities, Taxes / Assessments
Utilities Information
  • Sewer: Public Sewer
  • Water Source: Public
Assessment Information
  • No Assessments
  • Assessments: None
Location / Neighborhood
Location Information
  • Subdivision Name: Other (OTHR)
  • Other Subdivision Name: other
  • Directions: The property is located at Wallace @ 19th .
Neighborhood Information
  • Community Features: Sidewalks
View more facts & features

Local Costa Mesa Agent

Sale History for 1970 Wallace Ave

Last sold for $4,093,200 on July 15th, 2022

  • July, 2022

  • Jul 15, 2022

    Date

    Sold

    CRMLS: OC22110981

    $4,093,200

    Price

  • May 25, 2022

    Date

    Active

    CRMLS: OC22110981

    $4,125,000

    Price

Tax History for 1970 Wallace Ave

Assessed Value (2020): $845,685
Year Land Value Improved Value Assessed Value
2020 $439,756 $405,929 $845,685

Home Value Compared to the Market

This property vs the competition

1970 Wallace Ave sold on July 15, 2022 for 205.56% higher than the current median sold price for the city of Costa Mesa which is $1,350,000. The median sold price per/sqft for Costa Mesa is $800 and this home is sold at $567.63 per/sqft which puts the price per square foot 29.05% lower than the current median sale per square foot for the city of Costa Mesa.

About 1970 Wallace Ave

Detailed summary of property

1970 Wallace Ave is a multi family that recently sold in Costa Mesa, CA 92627. This multi family property offered 14 bedrooms, 10 bathrooms, roughly 7,267 living square feet, and sits on an approximately 19,166 square foot lot. 1970 Wallace Ave was first listed on ArdentRealEstateGroup.com on May 25, 2022. The homeowner sold the property for $4,093,200. Home in Costa Mesa are selling for a median price of $1,350,000 and a median price per square foot of $800. Based on Ardent Real Estate Group's Costa Mesa Market Data, this home is sold 205.56% higher than the current median priced home. Local homes that are currently for sale include 625-701 W Provential Dr, 208 Granada Ave and 5 Loma Ave. While the average home in Costa Mesa, CA is selling in 37 days, 1970 Wallace Ave has a days on market of 4 days. There are currently 139 homes for sale in the Costa Mesa real estate market and 104 of them are single family homes while 17 of them are condos and 18 are townhomes. For more information on this home for sale at 1970 Wallace Ave 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 1970 Wallace Ave

Public county record property details
Beds
--
Baths
--
Year built
1966
Sq. Ft.
--
Lot Size
19,165
Stories
--
Type
Apartments (Generic)
Pool
No
Spa
No
County
Orange
Lot#
6
APN
422-262-08

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
$1,488,000
Median List Price/Sq.Ft.
$847
Median Sold Price
$1,320,000
Median Sold Price/Sq.Ft.
$799
Total Inventory
73
Median Sale to List Price %
102.33%
Avg Days on Market
12
Loan Type
Conventional (38.46%), FHA (0%), VA (0%), Cash (34.62%), Other (26.92%)

Thinking of Selling?

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Thinking of Selling?
Call, Text or Message
(714) 706-1823

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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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