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2014 Wallace Ave, Costa Mesa, CA 92627
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2014 Wallace Ave Costa Mesa, CA 92627

$2,600,000 Sold Price as of 03/31/2020
  • 13 Beds
  • 6 Baths
  • 5,309 Sq.Ft.
Sold
$2,600,000 Sold Price as of 03/31/2020 Refinance Your Mortgage
Map preview of 2014 Wallace Ave, Costa Mesa, CA 92627

Property Overview: 2014 Wallace Ave Costa Mesa, CA has 13 bedrooms, 6 bathrooms, 5,309 living square feet and 18,746 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Agent Remarks: The Wallace Avenue Apartments is a five-unit apartment building located in the highly desirable submarket of Costa Mesa within the greater Orange County area. The property offers an attractive unit mix consisting of (1) four bedroom/ two-bathroom Townhouse, (1) three bedroom/ one-bathroom Cottage, and (3) two bedroom / one bathroom Cottages totaling 5,309 square feet, situated on an large 18,746 square foot lot. The property has gone through recent renovations and upgrades of the interiors and exterior. Some interior upgrades include but are not limited to: new windows, new garage doors, new kitchens, new appliances, quartz countertops, new bathrooms, and new flooring. Common area amenities include: Large yards, enclosed garages and washer / dryer hookups. Costa Mesa is one of Orange County’s hidden gems. Revered as “City of the Arts”, Costa Mesa is the destination of choice for more than 46 million visitors each year due to its many sites / events of interest, including: South Coast Plaza, Segerstrom Center for the Arts, and the annual OC County Fair.

Listed by Greg Bassirpou | BRE #01365951 | Marcus & Millichap RE Invest
Last checked: 13 minutes ago | Last updated: March 22nd, 2022 | Source CRMLS | DOM: 45

Home details

Lot Sq. Ft
18,746
HOA Dues
$0/mo
Year built
1963
Garage
6 Car
Property Type:
Multi Family
Status
Sold
MLS#
OC20013358
City
Costa Mesa
County
Orange
Time on Site
1458 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 5
  • Total # of Buildings: 4
  • # of Electric Meters: 5
  • # of Gas Meters: 5
  • # of Water Meters: 1
Unit Breakdown 1
  • # of Units: 1
  • # of Beds: 4
  • # of Baths: 2
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $3,690
  • Total Rent: $3,690
  • Pro Forma/Market Rent: $3,800
Unit Breakdown 2
  • # of Units: 1
  • # of Beds: 3
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $2,300
  • Total Rent: $2,300
  • Pro Forma/Market Rent: $2,750
Unit Breakdown 3
  • # of Units: 3
  • # of Beds: 2
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $6,500
  • Total Rent: $6,500
  • Pro Forma/Market Rent: $7,050
Multi-Family Income/Expense Information
Property Income and Analysis
  • Cap Rate: 4.08%
  • Gross Rent Multiplier: 17.68
  • Gross Scheduled Income: $149,880
  • Net Operating Income: $108,020
  • Gross Operating Income: --
  • Vacancy Allowance: $2,998
Annual Expense Breakdown
  • Total Operating Expense: $38,862
  • Electric: $675
  • Gas/Fuel: $675
  • New Taxes: $30,412
  • Trash: $675
  • Insurance: $2,000
  • Professional Management: $0
  • Water/Sewer: $675

Property Details for 2014 Wallace Ave

Interior Features
Laundry Information
  • Has Laundry
  • Gas & Electric Dryer Hookup, Washer Hookup
Interior Features
  • Levels: One
Exterior Features
Exterior Features
  • No Pool
  • Pool Features: None
Lot Details / Garage and Parking
Parking/Garage Information
  • # of Garage Spaces: 6
  • # of Parking Spaces: 17
Lot Information
  • Lot Features: Back Yard, Front Yard, Landscaped, Near Public Transit
  • Common Interest: None
Property Information
  • Common Walls: No Common Walls
  • Total # of Units: 5
  • Parcel Number: 42225219
  • Year Built Source: Public Records
  • Property is not Attached
Homeowners Association, Utilities, Taxes / Assessments
Utilities Information
  • Sewer: Public Sewer
  • Water Source: Public
Location / Neighborhood
Location Information
  • Directions: Please do not disturb tenants. Make all offers subject to inspection.
Neighborhood Information
  • Community Features: Sidewalks, Storm Drains, Street Lights
View more facts & features

Local Costa Mesa Agent

Sale History for 2014 Wallace Ave

Last sold for $2,600,000 on March 31st, 2020

  • April, 2020

  • Apr 1, 2020

    Date

    Sold

    CRMLS: OC20013358

    $2,600,000

    Price

  • Mar 2, 2020

    Date

    Pending

    CRMLS: OC20013358

    $2,650,000

    Price

  • Jan 20, 2020

    Date

    Active

    CRMLS: OC20013358

    $2,650,000

    Price

  • March, 2020

  • Mar 31, 2020

    Date

    Sold (Public Records)

    Public Records

    $2,600,000

    Price

  • January, 2018

  • Jan 16, 2018

    Date

    Sold

    CRMLS: OC17227248

    $1,730,000

    Price

  • Oct 30, 2017

    Date

    Pending

    CRMLS: OC17227248

    $1,925,000

    Price

  • Oct 3, 2017

    Date

    Active

    CRMLS: OC17227248

    $1,925,000

    Price

  • Listing provided courtesy of CRMLS

    Built in 1963 and 1980, Wallace Avenue Apartments is situated on a 0.39-acre lot and consists of 5,309 net rentable square feet. The 5-unit property offers two-bedroom and three-bedroom floor plans, two units with large yards, in-unit laundry hookups and garage parking.

  • January, 2018

  • Jan 12, 2018

    Date

    Sold (Public Records)

    Public Records

    $1,730,000

    Price

Show More

Tax History for 2014 Wallace Ave

Assessed Value (2020): $1,799,892
Year Land Value Improved Value Assessed Value
2020 $1,383,732 $416,160 $1,799,892

Home Value Compared to the Market

This property vs the competition

2014 Wallace Ave sold on March 31, 2020 for 96.3% 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 $499.15 per/sqft which puts the price per square foot 37.61% lower than the current median sale per square foot for the city of Costa Mesa.

About 2014 Wallace Ave

Detailed summary of property

2014 Wallace Ave is a multi family that recently sold in Costa Mesa, CA 92627. This multi family property offered 13 bedrooms, 6 bathrooms, roughly 5,309 living square feet, and sits on an approximately 18,746 square foot lot. 2014 Wallace Ave was first listed on ArdentRealEstateGroup.com on July 4, 2020. The homeowner sold the property for $2,600,000. 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 96.3% higher than the current median priced home. Local homes that are currently for sale include 12621 Morningside Ave, 16861 Green Ln and 4822 Neely Circle. While the average home in Costa Mesa, CA is selling in 37 days, 2014 Wallace Ave has a days on market of 45 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 2014 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 2014 Wallace Ave

Public county record property details
Beds
3
Baths
1
Year built
1980
Sq. Ft.
1,285
Lot Size
18,746
Stories
2
Type
Single Family Residential
Pool
No
Spa
No
County
Orange
Lot#
18
APN
422-252-19

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%)

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Homes for Sale Near 2014 Wallace Ave

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Recently Sold Homes Near 2014 Wallace Ave

2016 Wallace Ave, Costa Mesa, CA 92627
$2,500,000 Last Sold Price
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6 Baths
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2016 Wallace Ave
Costa Mesa, CA 92627
1970 Wallace Ave, Costa Mesa, CA 92627
$4,093,200 Last Sold Price
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1970 Wallace Ave
Costa Mesa, CA 92627
700 W 20th St, Costa Mesa, CA 92627
$1,375,000 Last Sold Price
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2039 Pomona Ave, Costa Mesa, CA 92627
$2,550,000 Last Sold Price
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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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