First Team Real Estate Logo

Costa Mesa, CA 92626 1012 & 1018 Mission Drive

$4,450,000

1012 & 1018 Mission Drive Costa Mesa, Ca - Image 11012 & 1018 Mission Drive Costa Mesa, Ca - Image 21012 & 1018 Mission Drive Costa Mesa, Ca - Image 3
10 more
1012 & 1018 Mission Drive Costa Mesa, Ca - Image 41012 & 1018 Mission Drive Costa Mesa, Ca - Image 51012 & 1018 Mission Drive Costa Mesa, Ca - Image 61012 & 1018 Mission Drive Costa Mesa, Ca - Image 71012 & 1018 Mission Drive Costa Mesa, Ca - Image 81012 & 1018 Mission Drive Costa Mesa, Ca - Image 91012 & 1018 Mission Drive Costa Mesa, Ca - Image 101012 & 1018 Mission Drive Costa Mesa, Ca - Image 111012 & 1018 Mission Drive Costa Mesa, Ca - Image 121012 & 1018 Mission Drive Costa Mesa, Ca - Image 131012 & 1018 Mission Drive Costa Mesa, Ca - Image 14
Presented By: Nick Gould with Gould Group Inc; ng@gouldgroupinc.com
  • MLS# NP24059586
  • 03/25/2024
  • Request Tour
  • Request Info
  • BedBeds • 16
  • BathFull/Half Baths • 8 / 8
  • FootageSQFT • 9,402
  • GarageGarage • 8

Home Details

Welcome to 1012 & 1018 Mission Drive in the Mesa Del Mar enclave of Costa Mesa. These adjacent four-unit apartment buildings showcase an array of 2-bedroom/1.5-bathroom townhouse-style units, each accompanied by its own private yard. With an average unit size of approximately 1,175 square feet, these residences epitomize comfortable living. The property boasts a substantial community courtyard nestled between the two buildings. Notably, the seller has recently renovated four of the eight units since 2021, creating an attractive prospect for savvy investors to enhance the remaining four units and leverage competitive market rents. Tenants are offered garages and off-street parking, along with dedicated laundry rooms within each building. The strategic location of the property ensures easy accessibility to the best of Costa Mesa, including renowned destinations such as South Coast Plaza, The Camp, The LAB, and the Harbor Blvd shopping corridor. Additionally, tenants enjoy seamless connectivity with quick access to major freeways, including the 405, 55, and 73 Freeways. This property not only promises a secure investment but also positions itself as an inviting residential haven at the heart of Costa Mesa's vibrant offerings.
Presented By: Nick Gould with Gould Group Inc; ng@gouldgroupinc.com

Interior Features for 1012 & 1018 Mission Drive

Other Interior Features

Air Conditioning Y/NNo
Basement (Y/N)No
Common WallsItem2CommonWalls
Electric On Property Y/NNo
Fireplace FeaturesNone
Fireplace Y/NNo
Heating Y/NYes
Laundry FeaturesCommonArea
Street SuffixDrive
Total Stories2

Other Rooms

Entry Level1

General for 1012 & 1018 Mission Drive

Additional Parcels Description141-662-07
Additional Parcels Y/NYes
Attached Garage No
Building Area UnitsSquareFeet
Cap Rate4.01
Carport Y/NNo
CityCosta Mesa
Community FeaturesBiking, Curbs, Gutters, StormDrains, StreetLights, Sidewalks
ContingencyContact Listing Agent Nicholas Gould for a complete copy of the Marketing Flyer for this opportunity. PLEASE DO NOT DISTURB THE TENANTS. Only showing with an accepted offer.
CoolingNone
CountyOrange
Days on Market27
DirectionsFrom 405, exit Baker, Left on Mendoza and Left on Mission Drive. Properties are on left side of street.
Electric Expense3200.0
Entry Location1
Fuel Expense4200.0
Garage Spaces8.0
Garage Y/NYes
Gross Income276852.0
HOA0.0
HOA / Comm AssnNo
HeatingWallFurnace
Home Warranty Y/NNo
Insurance Expense5000.0
Land Lease Y/NNo
Lease Considered Y/NNo
Lease Renewal Y/NNo
LevelsTwo
Listing TermsCash, CashtoNewLoan
Lot Size Square Feet14502.0
MLS Area699 - Not Defined
MaintenanceExpense18800.0
MobileHomeRemainsYNNo
Net Operating Income178001.0
New ConstructionNo
Open Parking Spaces6.0
Operating Expense90545.0
Pool FeaturesNone
Private PoolNo
Property Attached Y/NYes
Property Sub Type AdditionalApartment
Property SubTypeApartment
Property TypeResidentialIncome
Rent Control Y/NYes
Senior Community Y/NNo
SewerPublicSewer
Special Listing ConditionsStandard
Standard StatusActive
StatusActive
Stories2
Street Name& 1018 Mission
Tax Lot24
Taxes$49,838
Tenant PaysElectricity, Gas
Total Units8
Trash Expense3907.0
ViewNone
View Y/NNo
Water Sewer Expense2000.0
Waterfront Y/NNo
Year Built1964
Year Built SourceAssessor

Exterior for 1012 & 1018 Mission Drive

Building Area Total9402.0
Crops Included Y/NNo
FencingBlock
Horse Y/NNo
Irrigation Water Rights Y/NNo
Lot FeaturesItem610UnitsAcre
Lot Size Acres0.3329
Lot Size Area14502.0
Lot Size SourceAssessor
Lot Size UnitsSquareFeet
Number of Buildings2
Number of Separate Electric Meters10
Number of Separate Gas Meters10
Number of Separate Water Meters2
Open Parking Y/NNo
Parking FeaturesAssigned, Garage, OffStreet, Private
Pool Charge0.0
Road Frontage TypeCityStreet
Road Surface TypeAlleyPaved
SpaNo
Total Parking14.0
Water SourcePublic

Additional Details

Price History

1527188455

First Team Client Services

Price $4,450,000
MLS#NP24059586
List Date 03/25/2024
Property Type Multi-Family
Phone 714.964.3311
Request Tour
Request Info
Visit My Website

Similar Properties to 1012 & 1018 Mission Drive

Ask A Question

CRMLS Compliance Statements & Disclaimers

*According to the National Association of Realtors