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2097 Wallace AVE Costa Mesa, CA 92627
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Key Details
Sold Price $1,850,000
Property Type Multi-Family
Sub Type Triplex
Listing Status Sold
Purchase Type For Sale
MLS Listing ID PW24083652
Sold Date 06/07/24
Construction Status Turnkey
HOA Y/N No
Year Built 1958
Lot Size 7,531 Sqft
Property Description
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.
Location
State CA
County Orange
Area C4 - Central Costa Mesa
Rooms
Ensuite Laundry Washer Hookup, Electric Dryer Hookup, Gas Dryer Hookup, Outside
Interior
Interior Features Ceiling Fan(s), Quartz Counters, Recessed Lighting
Laundry Location Washer Hookup,Electric Dryer Hookup,Gas Dryer Hookup,Outside
Heating Wall Furnace
Cooling None
Flooring Vinyl
Fireplaces Type None
Fireplace No
Appliance Gas Oven, Gas Range, Microwave, Refrigerator
Laundry Washer Hookup, Electric Dryer Hookup, Gas Dryer Hookup, Outside
Exterior
Garage None
Garage Spaces 2.0
Garage Description 2.0
Fence Wood
Pool None
Community Features Curbs, Storm Drain(s), Street Lights, Sidewalks
Utilities Available Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected
View Y/N No
View None
Roof Type Shingle
Parking Type None
Total Parking Spaces 2
Private Pool No
Building
Lot Description 2-5 Units/Acre, Corner Lot, Sprinkler System
Faces East
Story 1
Entry Level One
Foundation Raised
Sewer Public Sewer
Water Public
Architectural Style Cottage
Level or Stories One
New Construction No
Construction Status Turnkey
Others
Senior Community No
Tax ID 42228101
Acceptable Financing Cash to New Loan
Listing Terms Cash to New Loan
Financing Cash
Special Listing Condition Standard
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Bought with Lena Ghezel • Compass
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