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3018 Filmore Way, Costa Mesa, CA 92626
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3018 Filmore Way Costa Mesa, CA 92626

$1,045,000 Sold Price as of 08/29/2019
  • 6 Beds
  • 5 Baths
  • 3,191 Sq.Ft.
Sold
$1,045,000 Sold Price as of 08/29/2019 Refinance Your Mortgage
Map preview of 3018 Filmore Way, Costa Mesa, CA 92626

Property Overview: 3018 Filmore Way Costa Mesa, CA has 6 bedrooms, 5 bathrooms, 3,191 living square feet and 6,098 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Agent Remarks: Great location in the South Coast Metro Area. Located 3/4 mile SW of South Coast Plaza, the highest volume retail mall in the U.S., with $1.5 billion in annual sales. Located 1/2 mile NE of Orange Coast College, less than one mile N of the OC Fairgrounds, and less than two miles W of John Wayne Airport. The property consists of a single building with a 1-story, 2 BR/1 BA unit in the front and two 2 BR/1.5 BA two-story townhouse-style units in the rear. Very spacious units averaging 1,063 sf, each with dishwashers and patios and/or balconies. The building was constructed in 1963. Each unit has an individual garage space and there are 3 additional uncovered spaces. Parking is accessed through a rear alley. There is extremely strong rental demand in the South Coast Metro Area and there is significant upside in the current lease rates. In fact, same-sized renovated 2 BR/1 BA and 2 BR/1.5 BA units on the same street are currently rented at rates as high as $1,575 and $1,815/month, respectively. Current income specified below is actual. Current expenses are estimated. Projected Scheduled Gross Income and Net Operating Income with renovated units at market rental rates are $63,600 and $42,260, respectively. Projected Gross Rent Multiplier is 17.0. The Seller owns the adjacent triplex property and will consider a single sale of the two properties together.

Listed by Carl Reinhart | BRE #00647355 | Carl Reinhart, Broker
Last checked: 2 minutes ago | Last updated: March 22nd, 2022 | Source CRMLS | DOM: 24

Home details

Lot Sq. Ft
6,098
HOA Dues
$0/mo
Year built
1963
Garage
3 Car
Property Type:
Triplex
Status
Sold
MLS#
PW19154053
City
Costa Mesa
County
Orange
Time on Site
1400 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 3
  • Total # of Buildings: 1
  • # of Leased Units: 3
  • # of Electric Meters: 3
  • # of Gas Meters: 3
  • # 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: $1,300
  • Total Rent: $1,300
  • Pro Forma/Market Rent: $1,575
Unit Breakdown 2
  • # of Units: 2
  • # of Beds: 2
  • # of Baths: 2
  • Garage Spaces: 2
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $2,800
  • Total Rent: $2,800
  • Pro Forma/Market Rent: $3,630
Multi-Family Income/Expense Information
Property Income and Analysis
  • Cap Rate: 2.53%
  • Gross Rent Multiplier: 21.93
  • Gross Scheduled Income: $49,200
  • Net Operating Income: $27,248
  • Gross Operating Income: $48,216
  • Vacancy Allowance: $984
  • # of Rented Garages: 0
  • Laundry Income: $0
Annual Expense Breakdown
  • Total Operating Expense: $20,968
  • Electric: $0
  • New Taxes: $11,339
  • Trash: $900
  • Gardener: $600
  • Insurance: $2,000
  • Maintenance: $2,400
  • Professional Management: $1,929
  • Water/Sewer: $900
  • Other Expenses: $900
  • Other Expense Description: Reserves

Property Details for 3018 Filmore Way

Interior Features
Cooling Information
  • Has Cooling
  • Wall/Window Unit(s), Gas
Heating Information
  • Has Heating
  • Wall Furnace, Natural Gas
Laundry Information
  • Has Laundry
  • Gas Dryer Hookup, Washer Hookup
Room Information
  • Flooring: Carpet, Tile
  • Kitchen, Living Room
Kitchen Information
  • Has Appliances
  • Dishwasher, Free-Standing Range, Disposal, Gas Oven, Gas Range
Interior Features
  • Balcony, Formica Counters
  • Levels: Two
  • Window Features: Screens
  • Security Features: Smoke Detector(s)
Exterior Features
Exterior Information
  • Roof: Composition
Exterior Features
  • No Pool
  • Pool Features: None
Lot Details / Garage and Parking
Parking/Garage Information
  • # of Garage Spaces: 3
  • # of Parking Spaces: 6
  • Has Parking
  • Parking Features: Assigned, Garage, Garage Faces Rear, Garage - Three Door, Off Street, On Site, Parking Space, Private
Lot Information
  • Lot Features: 21-25 Units/Acre, Back Yard, Front Yard, Lawn, Level with Street, Rectangular Lot, Level, Near Public Transit, Utilities - Overhead, Yard
  • Lot Size Source: Assessor
Property Information
  • No View
  • View: None
  • Common Walls: 2+ Common Walls, No One Above, No One Below
  • Total # of Units: 3
  • Parcel Number: 14113416
  • Year Built Source: Assessor
  • Entry Level: 1
  • Foundation Details: Slab
  • Property is Attached
  • Property Condition: Repairs Cosmetic
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: Costa Mesa Residential Income (CMRI)
  • Other Subdivision Name: Costa Mesa
  • Directions: Driving E on Baker St., turn N on Coolidge Ave., E on Albany St. to Fillmore Way.
  • Road Frontage Type: City Street
  • Road Surface Type: Alley Paved, Paved
Neighborhood Information
  • Community Features: Curbs, Sidewalks, Street Lights, Suburban
View more facts & features

Local Costa Mesa Agent

Sale History for 3018 Filmore Way

Last leased for $2,500 on July 8th, 2020

  • July, 2020

  • Jul 8, 2020

    Date

    Leased

    CRMLS: PW20133634

    $2,500

    Price

  • Jul 8, 2020

    Date

    Active

    CRMLS: PW20133634

    $2,500

    Price

  • Listing provided courtesy of CRMLS

    REMODELED RENTAL UNIT!! Townhome style 2 bedrooms. 1.5 baths. 2 stories. Located in South Coast Metro Area. Very close to John Wayne Airport, South Coast Plaza, Orange Coast College and OC fairgrounds. Everything is NEW NEW NEW!! Comes with washer and dryer. One single car garage (attached with no direct access) and one assigned parking spot. Plenty of street parking. Currently remodeling other units in the building next door for rent as well.

  • May, 2020

  • May 12, 2020

    Date

    Expired

    CRMLS: PW20054229

    $2,500

    Price

  • Apr 27, 2020

    Date

    Pending

    CRMLS: PW20054229

    $2,500

    Price

  • Mar 11, 2020

    Date

    Active

    CRMLS: PW20054229

    $2,500

    Price

  • Listing provided courtesy of CRMLS

    REMODELED RENTAL UNIT!! Townhome style 2 bedrooms. 1.5 baths. 2 stories. Located in South Coast Metro Area. Very close to John Wayne Airport, South Coast Plaza, Orange Coast College and OC fairgrounds. Everything is NEW NEW NEW!! Comes with washer and dryer. One single car garage (attached with no direct access) and one assigned parking spot. Plenty of street parking. Currently remodeling other units in the building next door for rent as well.

  • May, 2020

  • May 1, 2020

    Date

    Expired

    CRMLS: PW20010118

    $2,500

    Price

  • Jan 17, 2020

    Date

    Active

    CRMLS: PW20010118

    $2,500

    Price

  • Jan 15, 2020

    Date

    Hold

    CRMLS: PW20010118

    $2,500

    Price

  • Jan 15, 2020

    Date

    Active

    CRMLS: PW20010118

    $2,500

    Price

  • Listing provided courtesy of CRMLS

    REMODELED RENTAL UNIT!! Townhome style 2 bedrooms. 1.5 baths. 2 stories. Located in South Coast Metro Area. Very close to John Wayne Airport, South Coast Plaza, Orange Coast College and OC fairgrounds. Everything is NEW NEW NEW!! Comes with washer and dryer. One single car garage (attached with no direct access) and one assigned parking spot. Plenty of street parking. Currently remodeling other units in the building next door for rent as well.

  • August, 2019

  • Aug 30, 2019

    Date

    Sold

    CRMLS: PW19154053

    $1,045,000

    Price

  • Aug 14, 2019

    Date

    Pending

    CRMLS: PW19154053

    $1,079,000

    Price

  • Jul 24, 2019

    Date

    Active Under Contract

    CRMLS: PW19154053

    $1,079,000

    Price

  • Jun 30, 2019

    Date

    Active

    CRMLS: PW19154053

    $1,079,000

    Price

  • August, 2019

  • Aug 29, 2019

    Date

    Sold (Public Records)

    Public Records

    $1,045,000

    Price

Show More

Tax History for 3018 Filmore Way

Assessed Value (2020): $115,613
Year Land Value Improved Value Assessed Value
2020 $43,933 $71,680 $115,613

Home Value Compared to the Market

This property vs the competition

3018 Filmore Way sold on August 29, 2019 for 21.24% lower 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 $338.14 per/sqft which puts the price per square foot 56.82% lower than the current median sale per square foot for the city of Costa Mesa.

About 3018 Filmore Way

Detailed summary of property

3018 Filmore Way is a triplex that recently sold in Costa Mesa, CA 92626. This triplex offered 6 bedrooms, 5 bathrooms, roughly 3,191 living square feet, and sits on an approximately 6,098 square foot lot. 3018 Filmore Way was first listed on ArdentRealEstateGroup.com on July 20, 2020. The homeowner sold the property for $1,045,000. 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 21.24% lower than the current median priced home. Local homes that are currently for sale include 1746 E Florida St, 1731 E 3rd St and 12213 Firestone Blvd. While the average home in Costa Mesa, CA is selling in 33 days, 3018 Filmore Way has a days on market of 24 days. There are currently 114 homes for sale in the Costa Mesa real estate market and 88 of them are single family homes while 10 of them are condos and 16 are townhomes. For more information on this home for sale at 3018 Filmore Way Costa Mesa, CA 92626 contact Ardent Real Estate Group and we will put you in touch with one of our Costa Mesa agents.

Public Facts for 3018 Filmore Way

Public county record property details
Beds
--
Baths
--
Year built
1963
Sq. Ft.
3,167
Lot Size
6,058
Stories
2
Type
Triplex (3 Units, Any Combination)
Pool
No
Spa
No
County
Orange
Lot#
6
APN
141-134-16

The source for these homes facts are from public records.

92626 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.
$751
Median Sold Price
$1,337,000
Median Sold Price/Sq.Ft.
$757
Total Inventory
49
Median Sale to List Price %
99.04%
Avg Days on Market
26
Loan Type
Conventional (50%), FHA (0%), VA (0%), Cash (25%), Other (25%)

Thinking of Selling?

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Recently Sold Homes Near 3018 Filmore Way

3020 Fillmore Way, Costa Mesa, CA 92626
$1,450,000 Last Sold Price
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5 Baths
4140 Sq.Ft.
3020 Fillmore Way
Costa Mesa, CA 92626
3036 Fillmore Way, Costa Mesa, CA 92626
$1,200,000 Last Sold Price
6 Beds
3 Baths
3166 Sq.Ft.
3036 Fillmore Way
Costa Mesa, CA 92626
3038 Fillmore Way, Costa Mesa, CA 92626
$1,200,000 Last Sold Price
6 Beds
3 Baths
3166 Sq.Ft.
3038 Fillmore Way
Costa Mesa, CA 92626
3036 Coolidge Ave, Costa Mesa, CA 92626
$1,350,000 Last Sold Price
6 Beds
4 Baths
3166 Sq.Ft.
3036 Coolidge Ave
Costa Mesa, CA 92626

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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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