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1971 Wallace Ave, Costa Mesa, CA 92627
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1971 Wallace Ave Costa Mesa, CA 92627

$2,454,000 Sold Price as of 10/19/2022
  • 10 Beds
  • 6 Baths
  • 4,438 Sq.Ft.
Sold
$2,454,000 Sold Price as of 10/19/2022 Refinance Your Mortgage
Map preview of 1971 Wallace Ave, Costa Mesa, CA 92627

Property Overview: 1971 Wallace Ave Costa Mesa, CA has 10 bedrooms, 6 bathrooms, 4,438 living square feet and 18,757 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Agent Remarks: We are pleased to present the sale of 1971 Wallace Ave, a 5 unit multifamily property located in Westside Costa Mesa. Available for the first time in over 45 years, the property consists of (3) 2 bedroom / 1 bath units and (2) 2 bedroom / 1 ½ bathroom units. Situated on an approximate 18,757 square foot lot, each unit boasts private yards, single car garages, washer/dryer hook-ups, and are separately metered for gas and electricity. This asset is located in one of the most desirable rental markets in Orange County and offers tenants close proximity to major freeways, John Wayne Airport, parks, and all the amenities Harbor Blvd has to offer!

Listed by Timothy Carr | BRE #01017277 | Villa Real Estate
Co-listed by Linda Duffy | BRE #01979777 | Villa Real Estate
Last checked: 12 minutes ago | Last updated: October 20th, 2022 | Source CRMLS | DOM: 85

Home details

Lot Sq. Ft
18,757
HOA Dues
$0/mo
Year built
1966
Garage
5 Car
Property Type:
Mixed Use
Status
Sold
MLS#
NP22093521
City
Costa Mesa
County
Orange
Time on Site
724 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 5
  • Total # of Buildings: 1
  • # 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: $1,980
  • Total Rent: $1,980
  • Pro Forma/Market Rent: $2,300
Unit Breakdown 2
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 1
  • Garage Spaces: 1
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $2,065
  • Total Rent: $2,065
  • Pro Forma/Market Rent: $2,300
Unit Breakdown 3
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 1
  • Garage Spaces: 1
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,980
  • Total Rent: $1,980
  • Pro Forma/Market Rent: $2,300
Unit Breakdown 4
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 2
  • Garage Spaces: 1
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,980
  • Total Rent: $1,980
  • Pro Forma/Market Rent: $2,400
Unit Breakdown 5
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 2
  • Garage Spaces: 1
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $2,090
  • Total Rent: $2,090
  • Pro Forma/Market Rent: $2,400
Multi-Family Income/Expense Information
Property Income and Analysis
  • Gross Rent Multiplier: --
  • Gross Scheduled Income: $121,140
  • Net Operating Income: $0
  • Gross Operating Income: --
Annual Expense Breakdown
  • Total Operating Expense: $0
  • Electric: $0
  • Gas/Fuel: $0
  • Trash: $0
  • Insurance: $0
  • Professional Management: $0
  • Water/Sewer: $0

Property Details for 1971 Wallace Ave

Interior Features
Cooling Information
  • No Cooling
  • None
Heating Information
  • Has Heating
  • Wall Furnace
Laundry Information
  • Has Laundry
  • Gas & Electric Dryer Hookup
Fireplace Information
  • No Fireplace
  • None
Room Information
  • Flooring: Laminate, Tile
  • Family Room, Kitchen
Interior Features
  • Security Features: Carbon Monoxide Detector(s), Smoke Detector(s)
Exterior Features
Exterior Information
  • Roof: Composition
  • No Spa
  • Spa Features: None
Exterior Features
  • No Pool
  • Pool Features: None
Lot Details / Garage and Parking
Parking/Garage Information
  • # of Garage Spaces: 5
  • # of Parking Spaces: 10
Lot Information
  • Lot Features: Back Yard, Front Yard, Lot 10000-19999 Sqft
  • Lot Size Source: Assessor
  • Common Interest: None
Property Information
  • No View
  • View: None
  • Common Walls: No Common Walls
  • Total # of Units: 5
  • Parcel Number: 42227108
  • Year Built Source: Assessor
  • Property is not Attached
Homeowners Association, Utilities, Taxes / Assessments
Utilities Information
  • Sewer: Public Sewer
  • Water Source: Public
Location / Neighborhood
Location Information
  • Subdivision Name: West Costa Mesa North (WNCM)
  • Directions: Wallace Ave between Placentia and Pomona off of Hamilton
Neighborhood Information
  • Community Features: Curbs, Park, Sidewalks
View more facts & features

Local Costa Mesa Agent

Sale History for 1971 Wallace Ave

Last sold for $2,454,000 on October 19th, 2022

  • October, 2022

  • Oct 19, 2022

    Date

    Sold

    CRMLS: NP22093521

    $2,454,000

    Price

  • May 16, 2022

    Date

    Active

    CRMLS: NP22093521

    $2,750,000

    Price

  • September, 2006

  • Sep 21, 2006

    Date

    Sold (Public Records)

    Public Records

    --

    Price

Show More

Tax History for 1971 Wallace Ave

Assessed Value (2020): $196,271
Year Land Value Improved Value Assessed Value
2020 $82,434 $113,837 $196,271

Home Value Compared to the Market

This property vs the competition

1971 Wallace Ave sold on October 19, 2022 for 89.42% 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 $584.72 per/sqft which puts the price per square foot 25.32% lower than the current median sale per square foot for the city of Costa Mesa.

About 1971 Wallace Ave

Detailed summary of property

1971 Wallace Ave is a mixed use that recently sold in Costa Mesa, CA 92627. This mixed use property offered 10 bedrooms, 6 bathrooms, roughly 4,438 living square feet, and sits on an approximately 18,757 square foot lot. 1971 Wallace Ave was first listed on ArdentRealEstateGroup.com on May 16, 2022. The homeowner sold the property for $2,454,000. 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 89.42% higher than the current median priced home. Local homes that are currently for sale include 1151 Daisy Ave, 914 N Loma Vista Dr and 755 S Boyle Ave. While the average home in Costa Mesa, CA is selling in 30 days, 1971 Wallace Ave has a days on market of 85 days. There are currently 116 homes for sale in the Costa Mesa real estate market and 90 of them are single family homes while 9 of them are condos and 17 are townhomes. For more information on this home for sale at 1971 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 1971 Wallace Ave

Public county record property details
Beds
--
Baths
--
Year built
--
Sq. Ft.
--
Lot Size
18,757
Stories
--
Type
Apartments (Generic)
Pool
No
Spa
No
County
Orange
Lot#
26
APN
422-271-08

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
$1,389,000
Median List Price/Sq.Ft.
$828
Median Sold Price
$1,500,000
Median Sold Price/Sq.Ft.
$788
Total Inventory
68
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%)

Thinking of Selling?

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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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