Sold for $5,000,000

Listed by: Skyline Commercial Real Estate • Christopher Pettit • Contact: 949-688-6530

Bought with: Skyline Commercial Real Estate

$5,000,000

287 16th Pl, Costa Mesa, CA 92627

16beds

14baths

9,049sqft

Multi Family

Built in 1963

-- sqft lot

$4,307,800 Zestimate^®

$553/sqft

$5,231 Estimated rent

Home value

$4,307,800

$3.62M - $5.21M

$5,231/mo

Zestimate^® history

Owner options

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$5,231/mo

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$5,231/mo

Rent Zestimate^®

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$31,302/mo

Est. payment

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$31,302/mo

Est. payment

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What's special

Premium Eastside Costa Mesa rental location. One of only a few 5+ buildings below 17th St and bordering Newport Heights, the property is walking distance to all of the hip retail, shopping, bars, and restaurants that line 17th St., while providing tenants a nice place to live on a quiet street. Rare opportunity to own this 8 unit apartment complex in an area with low rental supply/vacancy and rarely available properties. The high desirability makes the units easy to rent upon any turnover, resulting in a great long term investment as housing and rents in the area continue to appreciate.

Facts & features

Interior

Bedrooms & bathrooms

Bedrooms: 16
Bathrooms: 14

Heating

Central

Cooling

None

Appliances

Laundry: Common Area, Laundry Closet, In Kitchen

Features

Has fireplace: No
Fireplace features: None
Common walls with other units/homes: 1 Common Wall

Interior area

Total structure area: 9,049
Total interior livable area: 9,049 sqft

Property

Parking

Total spaces: 10
Parking features: Assigned, Carport, Door-Single, Garage, Paved, Uncovered
Garage spaces: 2
Carport spaces: 6
Covered spaces: 8
Uncovered spaces: 2

Features

Levels: Two
Stories: 2
Entry location: Individual Entry
Pool features: None

Lot

Size: 0.3 Acres
Features: Front Yard

Details

Parcel number: 42522108
Special conditions: Standard

Construction

Type & style

Home type: MultiFamily
Property subtype: Multi Family
Attached to another structure: Yes

Condition

New construction: No
Year built: 1963

Utilities & green energy

Sewer: Public Sewer
Water: Public
Utilities for property: Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected

Community & HOA

Community

Features: Urban
Subdivision: ,Other

Location

Region: Costa Mesa

Financial & listing details

Price per square foot: $553/sqft
Annual tax amount: $60,476
Date on market: 4/13/2023
Cumulative days on market: 85 days
Listing terms: Cash to Existing Loan,Cash to New Loan,Conventional
Total actual rent: 274560
Tenant pays: Electricity, Gas

Price history

Date	Event	Price
9/1/2023	Sold	$5,000,000-4.8%$553/sqft
Source: CRMLS #OC23060572 Report a problem
7/10/2023	Contingent	$5,250,000$580/sqft
Source: CRMLS #OC23060572 Report a problem
6/5/2023	Price change	$5,250,000-4.5%$580/sqft
Source: CRMLS #OC23060572 Report a problem
5/5/2023	Price change	$5,499,000-4.4%$608/sqft
Source: CRMLS #OC23060572 Report a problem
4/13/2023	Listed for sale	$5,750,000$635/sqft
Source: CRMLS #OC23060572 Report a problem
2/15/2023	Listing removed	--
Source: Zillow Rentals Report a problem
12/28/2022	Price change	$2,985+0.3%
Source: Zillow Rentals Report a problem
12/8/2022	Price change	$2,975-0.8%
Source: Zillow Rentals Report a problem
11/18/2022	Listed for rent	$3,000+1%
Source: Zillow Rental Manager Report a problem
8/23/2022	Listing removed	--
Source: Zillow Rental Manager Report a problem
8/2/2022	Listed for rent	$2,970+31.7%
Source: Zillow Rental Manager Report a problem
10/27/2021	Listing removed	--
Source: Zillow Rental Manager Report a problem
10/22/2021	Price change	$2,255+0.2%
Source: Zillow Rental Manager Report a problem
10/3/2021	Listed for rent	$2,250-0.2%
Source: Zillow Rental Manager Report a problem
8/19/2021	Listing removed	--
Source: Zillow Rental Manager Report a problem
8/10/2021	Price change	$2,255+0.2%
Source: Zillow Rental Manager Report a problem
8/1/2021	Price change	$2,250-30.8%
Source: Zillow Rental Manager Report a problem
7/31/2021	Price change	$3,250+47.7%
Source: Zillow Rental Manager Report a problem
7/19/2021	Listed for rent	$2,200-2.2%
Source: Zillow Rental Manager Report a problem
7/7/2021	Listing removed	--
Source: Zillow Rental Manager Report a problem
6/15/2021	Price change	$2,250+2.3%
Source: Zillow Rental Manager Report a problem
6/9/2021	Price change	$2,200-2.2%
Source: Zillow Rental Manager Report a problem
6/4/2021	Price change	$2,250-21.1%
Source: Zillow Rental Manager Report a problem
5/27/2021	Price change	$2,850+2.7%
Source: Zillow Rental Manager Report a problem
5/21/2021	Price change	$2,775+0.9%
Source: Zillow Rental Manager Report a problem
4/28/2021	Listed for rent	$2,750
Source: Zillow Rental Manager Report a problem