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3040 Filmore Way, Costa Mesa, CA 92626
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3040 Filmore Way Costa Mesa, CA 92626

$2,850,000 Sold Price as of 07/13/2023
  • 12 Beds
  • 7.5 Baths
  • 6,894 Sq.Ft.
Sold
$2,850,000 Sold Price as of 07/13/2023 Refinance Your Mortgage
Map preview of 3040 Filmore Way, Costa Mesa, CA 92626

Property Overview: 3040 Filmore Way Costa Mesa, CA has 12 bedrooms, 7.5 bathrooms, 6,894 living square feet and 11,326 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Agent Remarks: This rare value-add opportunity presents two side-by-side 3-unit apartment buildings located in a high demand location of Costa Mesa. While one unit has already undergone a complete rehabilitation, there is significant potential to increase the property's value and generate higher rental income by rehabbing the remaining five units which are mostly in original condition. These townhouse-style units all feature 2 bedrooms and 1.25 bathrooms, interior laundry, sizable private backyard patios and enclosed parking. The layout provides a comfortable and spacious environment, making these units attractive to individuals or small families seeking ample living space and allowing the tenants to create a sense of home. Investors can capitalize on this opportunity by implementing a strategic renovation plan to bring the remaining units up to market standards allowing for higher rental rates but also increasing the overall property value. This investment has significant upside potential for savvy investors. The Property is one parcel with six units, so must be sold together as one single purchase.

Listed by David Sanford | BRE #00826382 | Newport Apartment Group
Co-listed by Gaston Sanford | BRE #02023145 | Newport Apartment Group
Last checked: 31 seconds ago | Last updated: July 15th, 2023 | Source CRMLS | DOM: 2

Home details

Lot Sq. Ft
11,326
HOA Dues
$0/mo
Year built
1963
Garage
6 Car
Property Type:
Apartment
Status
Sold
MLS#
NP23102429
City
Costa Mesa
County
Orange
Time on Site
325 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 6
  • Total # of Buildings: 2
  • # of Electric Meters: 6
  • # of Gas Meters: 6
  • # of Water Meters: 0
Unit Breakdown 1
  • # of Units: 4
  • # of Beds: 2
  • # of Baths: 2
  • Garage Spaces: 1
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,815
  • Total Rent: $7,260
  • Pro Forma/Market Rent: $10,000
Unit Breakdown 2
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 2
  • Garage Spaces: 1
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,925
  • Total Rent: $1,925
  • Pro Forma/Market Rent: $2,500
Unit Breakdown 3
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 2
  • Garage Spaces: 1
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $2,030
  • Total Rent: $2,030
  • Pro Forma/Market Rent: $2,500
Multi-Family Income/Expense Information
Property Income and Analysis
  • Gross Rent Multiplier: --
  • Gross Scheduled Income: $134,580
  • Net Operating Income: $76,546
  • Gross Operating Income: --
Annual Expense Breakdown
  • Total Operating Expense: $58,034
  • Electric: $0
  • Gas/Fuel: $0
  • New Taxes: $34,200
  • Trash: $4,225
  • Gardener: $1,670
  • Insurance: $4,000
  • Maintenance: $4,000
  • Professional Management: $6,559
  • Water/Sewer: $3,380

Property Details for 3040 Filmore Way

Interior Features
Laundry Information
  • Has Laundry
  • Individual Room
Interior Features
  • Levels: Two
Exterior Features
Exterior Features
  • No Pool
  • Pool Features: None
Lot Details / Garage and Parking
Parking/Garage Information
  • # of Garage Spaces: 6
  • # of Parking Spaces: 9
Lot Information
  • Lot Features: 6-10 Units/Acre
  • Lot Size Source: Assessor
  • Common Interest: Community Apartment
Property Information
  • Common Walls: 1 Common Wall
  • Total # of Units: 6
  • Parcel Number: 14113423
  • Year Built Source: Assessor
  • Entry Level: 1
  • Property is Attached
Homeowners Association, Utilities, Taxes / Assessments
Homeowners Association
  • Is Not Part of Association
Utilities Information
  • Sewer: Public Sewer
  • Water Source: Public
Location / Neighborhood
Location Information
  • Subdivision Name: Other (OTHR)
  • Other Subdivision Name: None
  • Directions: From Baker head North on Coolidge, right on Albany, left on Fillmore.
Neighborhood Information
  • Community Features: Sidewalks
View more facts & features

Local Costa Mesa Agent

Sale History for 3040 Filmore Way

Last sold for $2,850,000 on July 13th, 2023

  • July, 2023

  • Jul 13, 2023

    Date

    Sold

    CRMLS: NP23102429

    $2,850,000

    Price

  • Jun 13, 2023

    Date

    Active

    CRMLS: NP23102429

    $2,850,000

    Price

Tax History for 3040 Filmore Way

Assessed Value (2020): $737,697
Year Land Value Improved Value Assessed Value
2020 $464,749 $272,948 $737,697

Home Value Compared to the Market

This property vs the competition

3040 Filmore Way sold on July 13, 2023 for 108.03% 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 $413.4 per/sqft which puts the price per square foot 47.2% lower than the current median sale per square foot for the city of Costa Mesa.

About 3040 Filmore Way

Detailed summary of property

3040 Filmore Way is a apartment that recently sold in Costa Mesa, CA 92626. This apartment offered 12 bedrooms, 7.5 bathrooms, roughly 6,894 living square feet, and sits on an approximately 11,326 square foot lot. 3040 Filmore Way was first listed on ArdentRealEstateGroup.com on June 13, 2023. The homeowner sold the property for $2,850,000. 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 108.03% higher than the current median priced home. Local homes that are currently for sale include 124 Pearl Ave, 12702 Morningside Ave and 12621 Morningside Ave. While the average home in Costa Mesa, CA is selling in 29 days, 3040 Filmore Way has a days on market of 2 days. There are currently 114 homes for sale in the Costa Mesa real estate market and 85 of them are single family homes while 13 of them are condos and 16 are townhomes. For more information on this home for sale at 3040 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 3040 Filmore Way

Public county record property details
Beds
--
Baths
--
Year built
1963
Sq. Ft.
6,895
Lot Size
10,864
Stories
2
Type
Apartments (Generic)
Pool
No
Spa
No
County
Orange
Lot#
13
APN
141-134-23

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
47
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 3040 Filmore Way

3020 Fillmore Way, Costa Mesa, CA 92626
$1,450,000 Last Sold Price
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5 Baths
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3020 Fillmore Way
Costa Mesa, CA 92626
3036 Fillmore Way, Costa Mesa, CA 92626
$1,200,000 Last Sold Price
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3166 Sq.Ft.
3036 Fillmore Way
Costa Mesa, CA 92626
3018 Fillmore Way, Costa Mesa, CA 92626
$1,045,000 Last Sold Price
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5 Baths
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3018 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

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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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