MLS® ID: PW18212039

287 E 16th Place

Costa Mesa, California, 92627

$3,795,000 Active Under Contract
  • - SQFT
287 E. 16th Place is a unique 8 unit Eastside Costa Mesa investment opportunity advantageously located near the border of Newport Beach and the shopping, dining and entertainment of popular 17th St. in Costa Mesa. Per assessor, total building square footage is over 9,000 sqft and lot size is over 13,000 sqft. The smart unit mix includes oversized floorplans and features two 3 bedroom/2 bath units, two 1 bedroom/1 bath units and four 2 bedroom/2 bath units. Residents share the charming interior courtyard. The windows have been replaced throughout the building and most units have upgraded interiors, including newer bathrooms/kitchens and newer flooring. There is big upside in rental rates, with several units on month-to-month rental agreements. Conservative pro forma rents include: 1 bedroom - $1900, 2 bedroom - $2300 and 3 bedroom - $2750, which equates to a conservative pro forma Gross Scheduled Income of $222,000. There are two single car garages, plus carport and assigned parking spots. The small laundry room is shared and some units have washer/dryer hookups. Units are separately metered for gas and electric.
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Listing courtesy of Coldwell Banker Res. Brokerage

Amenities

  • Full baths
    0
  • Half baths
    0
  • Zip
    92627
  • Office name
    Coldwell Banker Res. Brokerage
  • SQFT
    0
  • Bedrooms
    0
  • Year built
    1963
  • Lot size
    13068.00
  • Sewer
    Public Sewer
  • Tax year
    0
  • Agent name
    Christian Walsh
  • Tax amount
    $ 0.0
  • Purchase Type
    Active
  • Price Range
    $2m+
  • Square Feet Range
    < 1000 sq ft.
  • Year Built Range
    1989 (and earlier)
  • Office ID
    PB14622
  • Agent ID
    PWALSCHR

Location

Virtual Tours

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