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2097 Wallace Ave, Costa Mesa, CA 92627
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2097 Wallace Ave Costa Mesa, CA 92627

$1,850,000
  • 6 Beds
  • 3 Baths
  • 2,344 Sq.Ft.
For Sale
$1,850,000 Get Pre-Qualified
Map preview of 2097 Wallace Ave, Costa Mesa, CA 92627

Property Overview: 2097 Wallace Ave Costa Mesa, CA has 6 bedrooms, 3 bathrooms, 2,344 living square feet and 7,532 square feet lot size. Call an Ardent Real Estate Group agent to verify current availability of this home or with any questions you may have.

Agent Remarks: Introducing an attractive investment opportunity at 2097 Wallace in the vibrant city of Costa Mesa, California. This modern, cottage-style triplex presents a compelling value with a strong 5.2% capitalization rate. Each of the three units has been meticulously renovated to offer high-end, contemporary living spaces. Features include new flooring, fresh interior and exterior paint, and fully updated kitchens with granite countertops and shaker cabinets. Bathrooms have full tile showers making them instantly appealing to prospective tenants. The property includes essential appliances such as refrigerators and gas stoves, along with ceiling fans throughout, enhancing tenant comfort and appeal. Each unit benefits from its own private yard, a desirable feature for all types of tenants including those with children or pets. Individual laundry hookups add a layer of convenience. Secure this turnkey property to capitalize on its excellent location and modern amenities, ensuring a steady revenue stream and robust return on investment. Unit Mix: 3 Units. Each unit has 2 Beds | 1 Bath | 750 sqft. Individual yards and laundry hookups. Detached two car garage could be additional revenue or potential ADU for a 4th Unit. Each unit is separately metered for gas and electric. New: Roof, Kitchens, Bathrooms, Sub Panels, Plumbing, Doors, Fencing and Irrigation.

Listed by Ali Ghandour | BRE #02016049 | Circa Properties, Inc.
Last checked: 8 minutes ago | Last updated: May 5th, 2024 | Source CRMLS | DOM: 9
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Home details

Lot Sq. Ft
7,532
HOA Dues
$0/mo
Year built
1958
Garage
2 Car
Property Type:
Triplex
Status
Active
MLS#
PW24083652
City
Costa Mesa
County
Orange
Time on Site
12 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 3
  • Total # of Buildings: 1
  • # of Leased Units: 0
  • # of Electric Meters: 3
  • # of Gas Meters: 3
  • # of Water Meters: 1
Unit Breakdown 1
  • # of Units: 3
  • # of Beds: 2
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Total Rent: $3,500
  • Pro Forma/Market Rent: $10,500
Multi-Family Income/Expense Information
Property Income and Analysis
  • Cap Rate: 5.2%
  • Gross Rent Multiplier: --
  • Gross Scheduled Income: $126,000
  • Net Operating Income: $97,040
  • Gross Operating Income: --
  • Vacancy Allowance: $0
  • # of Rented Garages: 0
  • Garage Rental Rate: $400
  • Garage Rental Income: $0
  • Laundry Income: $0
Annual Expense Breakdown
  • Total Operating Expense: $28,960
  • Electric: $0
  • Gas/Fuel: $0
  • Licenses: $0
  • New Taxes: $17,000
  • Furniture Replacement: $0
  • Trash: $0
  • Cable TV: $0
  • Gardener: $960
  • Insurance: $5,000
  • Maintenance: $3,600
  • Workman's Comp: $0
  • Professional Management: $0
  • Water/Sewer: $2,400

Open Houses for 2097 Wallace Ave

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Property Details for 2097 Wallace Ave

Interior Features
Cooling Information
  • No Cooling
  • None
Heating Information
  • Has Heating
  • Wall Furnace
Laundry Information
  • Has Laundry
  • Gas & Electric Dryer Hookup, Outside, Washer Hookup
Fireplace Information
  • No Fireplace
  • None
Room Information
  • Flooring: Vinyl
Kitchen Information
  • Has Appliances
  • Gas Oven, Gas Range, Microwave, Refrigerator
Interior Features
  • Ceiling Fan(s), Quartz Counters, Recessed Lighting
  • Levels: One
  • Window Features: Double Pane Windows
Exterior Features
Exterior Information
  • Roof: Shingle
  • Has Fence
  • Wood
  • No Spa
  • Spa Features: None
Exterior Features
  • No Pool
  • Pool Features: None
Lot Details / Garage and Parking
Parking/Garage Information
  • # of Garage Spaces: 2
  • # of Parking Spaces: 2
  • No
  • Parking Features: None
Lot Information
  • Lot Features: 2-5 Units/Acre, Corner Lot, Sprinkler System
  • Lot Size Source: Assessor
  • Common Interest: None
Property Information
  • No View
  • View: None
  • Common Walls: No Common Walls
  • Total # of Units: 3
  • Parcel Number: 42228101
  • Year Built Source: Public Records
  • Architectural Style: Cottage
  • Entry Level: 1
  • Foundation Details: Raised
  • Property is not Attached
  • Offered With Property: All Kitchen Appliances Included
  • Property Condition: Turnkey
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
Assessment Information
  • Has Assessments
  • Assessments: Special Assessments, Buyer to Verify
Location / Neighborhood
Location Information
  • Directions: South of Victoria Between Pomona and Placentia.
  • Road Frontage Type: City Street
  • Road Surface Type: Paved
Neighborhood Information
  • Community Features: Curbs, Sidewalks, Storm Drains, Street Lights
View more facts & features

Local Costa Mesa Agent

Sale History for 2097 Wallace Ave

Last sold for $790,000 on June 10th, 2005

  • April, 2024

  • Apr 29, 2024

    Date

    Active

    CRMLS: PW24083652

    $1,850,000

    Price

  • June, 2005

  • Jun 10, 2005

    Date

    Sold (Public Records)

    Public Records

    $790,000

    Price

Show More

Tax History for 2097 Wallace Ave

Assessed Value (2020): $894,883
Year Land Value Improved Value Assessed Value
2020 $805,395 $89,488 $894,883

Home Value Compared to the Market

This property vs the competition

2097 Wallace Ave is listed 32.24% higher than the median list price for the city of Costa Mesa which has a median list price of $1,399,000. The median price per/sqft for Costa Mesa is $806 and this home is listed at $789.25 per/sqft which puts the price per square foot 2.08% lower than the median price per square foot for the city of Costa Mesa.

About 2097 Wallace Ave

Detailed summary of property

2097 Wallace Ave is a triplex located in Costa Mesa, CA 92627 and is currently for sale. This triplex offers 6 bedrooms, 3 bathrooms, roughly 2,344 living square feet, and sits on an approximately 7,532 square foot lot. 2097 Wallace Ave was first listed on ArdentRealEstateGroup.com on April 27, 2024. The homeowner is currently asking $1,850,000. The median priced home in Costa Mesa is $1,399,000 with a median price per square foot of $806. Based on Ardent Real Estate Group's Costa Mesa Market Data, this home is listed 32.24% higher than the median priced home. Local competing homes currently for sale include 1554 Orchard Dr, 1214 California St and 715 California. While the average home in Costa Mesa, CA is selling in 30 days, 2097 Wallace Ave has a days on market of 9 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 2097 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 2097 Wallace Ave

Public county record property details
Beds
--
Baths
--
Year built
1958
Sq. Ft.
2,344
Lot Size
7,531
Stories
--
Type
Apartments (Generic)
Pool
No
Spa
No
County
Orange
Lot#
21
APN
422-281-01

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%)

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2016 Wallace Ave, 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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