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432 Hamilton St, Costa Mesa, CA 92627
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432 Hamilton St Costa Mesa, CA 92627

$2,025,000 Sold Price as of 11/22/2023
  • 7 Beds
  • 6 Baths
  • 2,972 Sq.Ft.
Sold
$2,025,000 Sold Price as of 11/22/2023 Refinance Your Mortgage
Map preview of 432 Hamilton St, Costa Mesa, CA 92627

Property Overview: 432 Hamilton St Costa Mesa, CA has 7 bedrooms, 6 bathrooms, 2,972 living square feet and 8,795 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Agent Remarks: Pleased to present 432 Hamilton Street, a turnkey triplex in Costa Mesa’s developing West Side. This immaculate building has been meticulously improved and upgraded in 2023 with all units receiving new kitchen cabinets, stone countertops, new appliances, fixtures, lighting, vanities, shower enclosures and more. The exterior of the property has recently been painted and all windows and sliders are brand new. The property is comprised of two large two-bedroom/two-bathroom units and one large three-bedroom/two-bathroom unit that will be delivered fully furnished with brand new furniture, televisions and decorative items. Each unit also contains a private patio or balcony with one unit receiving an expansive backyard. Every tenant of the property enjoys washer and dryer hookups, and each unit comes with new washer/dryer machines, refrigerators and microwaves included in the rental. Three individual garages are available for parking along with (5) open parking spaces. The current owner has obtained approval for the ability to construct (2) additional ADU’s. Each ADU would be a two bedroom/two bathroom unit which would add approximately 1,551 rentable square feet to the premises. All plans and documents will be transferred with the sale and new ownership will only need to obtain their permits and immediately begin construction. The existing unit income added to the additional income from the new ADU’s will produce a projected 11.7% cash-on-cash return which includes the costs to build the new units. Not to mention, the value of the ADU's are estimated to be more than twice as much as their cost to build and these units would not be subject to current rent control laws. This is a rare opportunity to purchase a turnkey property with the potential for massive growth.

Listed by Rick Applebaum | BRE #01273871 | Morgan Skenderian
Co-listed by Paul Espinosa | BRE #01942627 | Morgan Skenderian
Last checked: 11 minutes ago | Last updated: November 22nd, 2023 | Source CRMLS | DOM: 49

Home details

Lot Sq. Ft
8,795
HOA Dues
$0/mo
Year built
1977
Garage
3 Car
Property Type:
Triplex
Status
Sold
MLS#
PW23156325
City
Costa Mesa
County
Orange
Time on Site
242 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 3
  • Total # of Buildings: 2
  • # of Electric Meters: 4
  • # of Gas Meters: 4
  • # of Water Meters: 1
Unit Breakdown 1
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 2
  • Garage Spaces: 1
  • Garaged Attached? No
  • Furnishing: Furnished
  • Actual Rent: $3,495
  • Total Rent: $3,495
  • Pro Forma/Market Rent: $5,000
Unit Breakdown 2
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 2
  • Garage Spaces: 1
  • Garaged Attached? No
  • Furnishing: Furnished
  • Actual Rent: $3,695
  • Total Rent: $3,695
  • Pro Forma/Market Rent: $5,200
Unit Breakdown 3
  • # of Units: 1
  • # of Beds: 3
  • # of Baths: 2
  • Garage Spaces: 1
  • Garaged Attached? No
  • Furnishing: Furnished
  • Actual Rent: $4,495
  • Total Rent: $4,495
  • Pro Forma/Market Rent: $6,000
Multi-Family Income/Expense Information
Property Income and Analysis
  • Cap Rate: 4.5%
  • Gross Rent Multiplier: 15.65
  • Gross Scheduled Income: $140,220
  • Net Operating Income: $99,676
  • Gross Operating Income: $136,013
  • Vacancy Allowance: $4,207
Annual Expense Breakdown
  • Total Operating Expense: $36,337
  • Electric: $990
  • Gas/Fuel: $990
  • New Taxes: $24,201
  • Trash: $990
  • Gardener: $600
  • Insurance: $1,635
  • Maintenance: $5,441
  • Water/Sewer: $990
  • Other Expenses: $500
  • Other Expense Description: admin

Property Details for 432 Hamilton St

Interior Features
Laundry Information
  • Has Laundry
  • Dryer Included, Washer Included
Exterior Features
Exterior Features
  • No Pool
  • Pool Features: None
Lot Details / Garage and Parking
Parking/Garage Information
  • # of Garage Spaces: 3
  • # of Parking Spaces: 8
  • Has Parking
  • Parking Features: Assigned
Lot Information
  • Lot Features: Lot 6500-9999
  • Lot Size Source: Assessor
  • Common Interest: None
Property Information
  • Common Walls: 1 Common Wall
  • Total # of Units: 3
  • Parcel Number: 41917130
  • Year Built Source: Assessor
  • Entry Level: 1
  • Property is Attached
Homeowners Association, Utilities, Taxes / Assessments
Utilities Information
  • Sewer: Public Sewer
  • Water Source: Public
Assessment Information
  • Has Assessments
  • Assessments: Special Assessments
Location / Neighborhood
Location Information
  • Directions: Harbor and Hamilton are the main cross streets.
Neighborhood Information
  • Community Features: Gutters, Sidewalks
View more facts & features

Local Costa Mesa Agent

Sale History for 432 Hamilton St

Last sold for $2,025,000 on November 22nd, 2023

  • November, 2023

  • Nov 22, 2023

    Date

    Sold

    CRMLS: PW23156325

    $2,025,000

    Price

  • Aug 21, 2023

    Date

    Active

    CRMLS: PW23156325

    $2,195,000

    Price

  • January, 2023

  • Jan 30, 2023

    Date

    Canceled

    CRMLS: PW22223758

    $1,905,000

    Price

  • Oct 17, 2022

    Date

    Active

    CRMLS: PW22223758

    $1,905,000

    Price

  • Listing provided courtesy of CRMLS

    Pleased to present 432 Hamilton Street, a well-located triplex in Costa Mesa’s developing West Side. The subject property consists of two large two bedroom/two bathroom units and one large three bedroom/two bathroom unit, with each unit offering the residents a private patio or balcony including one expansive backyard for one of the two bedrooms. A community laundry facility (property owned machines) is available for tenants and each unit has their own individual garage plus an additional open parking space. The current owner is in process of obtaining approval for the addition of two ADU’s, each a two bedroom/two bathroom unit. Through modernization of the existing units, the new investor will benefit from the 29% in rental upside projected over existing rents. When combining the upside potential on the existing rents and adding the additional income from the new ADU’s, the investor is estimated to yield a 9.6% cash-on-cash return which includes the costs to build the new units. Not to mention the growth in equity after adding the units at costs well below the value of the finished product. This is a rare opportunity to purchase a well-priced triplex with the growth potential to achieve significant returns.

  • July, 2022

  • Jul 12, 2022

    Date

    Sold

    CRMLS: PW22084074

    $1,700,000

    Price

  • Apr 25, 2022

    Date

    Active

    CRMLS: PW22084074

    $1,745,000

    Price

  • Listing provided courtesy of CRMLS

    all 3 units were renovated about three years ago, Unit # 1 is single level 3 bedroom 2 baths 1192 sq. ft. Units #2 and 3 are 2 bedrooms 2 baths 923 sq. ft. each. All 3 units have fireplace in the living room. Each unit comes with a 1 car detached garage

  • November, 2021

  • Nov 6, 2021

    Date

    Active

    CRMLS: PW21243956

    $1,670,000

    Price

  • Listing provided courtesy of CRMLS

    all 3 units were renovated about three year ago, Unit # 1 is single story 3 bedroom 2 baths 1192 sq. ft. Units #2 and 3 are 2 bedrooms 2 baths 923 sq. ft. each. All 3 units have fireplace in the living room. Each unit comes with a 1 car detached garage plus 2 additional parking spaces

  • September, 2020

  • Sep 16, 2020

    Date

    Canceled

    CRMLS: PW20134159

    $1,495,000

    Price

  • Jul 9, 2020

    Date

    Active

    CRMLS: PW20134159

    $1,495,000

    Price

  • Listing provided courtesy of CRMLS

    all 3 units were renovated about one year ago, Unit # 1 is one story 3 bedroom 2 baths 1192 sq ft. Units #2 and 3 are 2 bedrooms 2 baths 923 sq ft each. All 3 units have fireplace in the living room. Each unit comes with a 1 car garage plus 2 additional open spaces

  • November, 2019

  • Nov 19, 2019

    Date

    Expired

    CRMLS: PW19140200

    $1,700,000

    Price

  • Jun 14, 2019

    Date

    Active

    CRMLS: PW19140200

    $1,700,000

    Price

  • Listing provided courtesy of CRMLS

    Recently renovated, remodeled kitchen, bathrooms, floors, impeccably maintained triplex , Unit # 1 is one story 3 bedroom 2 baths 1192 sq ft. with fire place Units #2 and 3 are 2 bedrooms 2 baths 923 sq ft each. Each unit comes with a 1 car garage plus 2 additional open spaces

  • September, 2018

  • Sep 26, 2018

    Date

    Expired

    CRMLS: PW18132673

    $1,800,000

    Price

  • Jun 5, 2018

    Date

    Active

    CRMLS: PW18132673

    $1,800,000

    Price

  • Listing provided courtesy of CRMLS

    Recently renovated, impeccably maintained triplex , Unit # 1 is a 3 bedroom 2 baths 1192 sq ft. Units #2 and 3 are 2 bedrooms 2 baths 923 sq ft each. Each unit comes with a 1 car garage plus 2 additional open spaces

  • September, 2005

  • Sep 14, 2005

    Date

    Sold (Public Records)

    Public Records

    $1,025,000

    Price

Show More

Tax History for 432 Hamilton St

Assessed Value (2020): $1,241,619
Year Land Value Improved Value Assessed Value
2020 $1,030,544 $211,075 $1,241,619

Home Value Compared to the Market

This property vs the competition

432 Hamilton St sold on November 22, 2023 for 62.35% higher than the current median sold price for the city of Costa Mesa which is $1,352,000. The median sold price per/sqft for Costa Mesa is $794 and this home is sold at $738.56 per/sqft which puts the price per square foot 6.98% lower than the current median sale per square foot for the city of Costa Mesa.

About 432 Hamilton St

Detailed summary of property

432 Hamilton St is a triplex that recently sold in Costa Mesa, CA 92627. This triplex offered 7 bedrooms, 6 bathrooms, roughly 2,972 living square feet, and sits on an approximately 8,795 square foot lot. 432 Hamilton St was first listed on ArdentRealEstateGroup.com on August 26, 2023. The homeowner sold the property for $2,025,000. Home in Costa Mesa are selling for a median price of $1,352,000 and a median price per square foot of $794. Based on Ardent Real Estate Group's Costa Mesa Market Data, this home is sold 62.35% higher than the current median priced home. Local homes that are currently for sale include 1214 California St, 728 Clay Ave and 17061 Whitby Cir. While the average home in Costa Mesa, CA is selling in 30 days, 432 Hamilton St has a days on market of 49 days. There are currently 102 homes for sale in the Costa Mesa real estate market and 73 of them are single family homes while 15 of them are condos and 14 are townhomes. For more information on this home for sale at 432 Hamilton St 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 432 Hamilton St

Public county record property details
Beds
--
Baths
--
Year built
1977
Sq. Ft.
2,972
Lot Size
8,434
Stories
--
Type
Triplex (3 Units, Any Combination)
Pool
No
Spa
No
County
Orange
Lot#
10
APN
419-171-30

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
$1,350,000
Median List Price/Sq.Ft.
$808
Median Sold Price
$1,350,000
Median Sold Price/Sq.Ft.
$1,046
Total Inventory
52
Median Sale to List Price %
103.85%
Avg Days on Market
17
Loan Type
Conventional (50%), FHA (0%), VA (0%), Cash (31.82%), Other (18.18%)

Thinking of Selling?

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Recently Sold Homes Near 432 Hamilton St

415 Hamilton St, Costa Mesa, CA 92627
$1,475,000 Last Sold Price
7 Beds
4 Baths
2900 Sq.Ft.
415 Hamilton St
Costa Mesa, CA 92627
428 Hamilton St, Costa Mesa, CA 92627
$952,500 Last Sold Price
5 Beds
2 Baths
2039 Sq.Ft.
428 Hamilton St
Costa Mesa, CA 92627
381 Hamilton St, Costa Mesa, CA 92627
$4,575,000 Last Sold Price
14 Beds
13 Baths
8891 Sq.Ft.
381 Hamilton St
Costa Mesa, CA 92627
374 376 Hamilton St, Costa Mesa, CA 92627
$1,625,000 Last Sold Price
2 Beds
2 Baths
1757 Sq.Ft.
374 376 Hamilton St
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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