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Costa Mesa, CA 92627 164 Walnut Street

$3,400,000

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Presented By: Christine Morgan with Marterra Real Estate; 949-910-1042
  • MLS# OC24041909
  • 02/29/2024
  • Request Tour
  • Request Info
  • BedBeds • 11
  • BathBaths • 6
  • FootageSQFT • 3,586
  • GarageGarage • 5

Home Details

Welcome to 164 Walnut in Costa Mesa - the Capital of Cool. This 6-plex is made up of five 2 bed/1 bath units and one 1 bed/1 bath unit, all of which have been renovated. Unit C has washer and dryer hookups, and there are opportunities to have additional hookups in unit A, B, D and potentially unit F. The property is minutes away from the bustling shopping and dining options on 17th Street, is within easy walking distance to the scenic Upper Newport Back Bay and is encircled by some of the nation's top public schools. Additionally, tenants have convenient access to the 55 Freeway, providing seamless connectivity to the entire Southern California region. The property is also adjacent to Newport Blvd, a Measure K corridor, which is slated for substantial redevelopment. With ample parking on site, and tucked away in a quiet cul de sac, and an 89 walk score---come quick! Matterport links available for all units, please inquire.
Presented By: Christine Morgan with Marterra Real Estate; 949-910-1042

Interior Features for 164 Walnut Street

Other Interior Features

Air Conditioning Y/NNo
Basement (Y/N)No
Common WallsItem1CommonWall
Electric On Property Y/NNo
Fireplace FeaturesNone
Fireplace Y/NNo
FlooringVinyl
Heating Y/NYes
Laundry FeaturesInside, LaundryRoom
Street SuffixStreet
Total Stories1

Other Rooms

Entry Level1

General for 164 Walnut Street

Additional Parcels Y/NNo
AppliancesGasRange, Microwave, Refrigerator, WaterHeater
Attached Garage No
Building Area UnitsSquareFeet
Cap Rate4.5
Carport Y/NNo
CityCosta Mesa
Community FeaturesStreetLights
CoolingNone
CountyOrange
Days on Market55
DirectionsFrom Fullerton, turn onto side street on Walnut
Electric Expense900.0
Entry Location1
Expected Active Date 2024-03-01
Fuel Expense1650.0
Garage Spaces5.0
Garage Y/NYes
Gross Income224480.0
HOA0.0
HOA / Comm AssnNo
HeatingWallFurnace
Home Warranty Y/NNo
Insurance Expense2575.0
Interior FeaturesQuartzCounters, RecessedLighting, BedroomonMainLevel
Land Lease Y/NNo
Lease Considered Y/NNo
Lease Renewal Y/NNo
LevelsTwo
Listing TermsCash, CashtoNewLoan
Lot Size Square Feet17424.0
MLS AreaC5 - East Costa Mesa
MaintenanceExpense4500.0
MobileHomeRemainsYNNo
Net Operating Income161201.0
New ConstructionNo
Number of Units Leased6
Open Parking Spaces6.0
Operating Expense56965.0
Pool FeaturesNone
PossessionCloseOfEscrow
Private PoolNo
Property Attached Y/NYes
Property ConditionUpdatedRemodeled, Turnkey
Property Sub Type AdditionalApartment
Property SubTypeApartment
Property TypeResidentialIncome
Rent Control Y/NYes
RoofShingle
Security FeaturesCarbonMonoxideDetectors, SmokeDetectors
Senior Community Y/NNo
SewerPublicSewer
Spa FeaturesNone
Special Listing ConditionsStandard
Standard StatusActive
StatusActive
Stories2
Street NameWalnut
Tax Lot182
Taxes$40,067
Total Actual Rent36150.0
Total Units6
Trash Expense2803.0
UtilitiesElectricityConnected, NaturalGasConnected, SewerConnected, WaterConnected
ViewNone
View Y/NNo
Virtual TourClick here
Water Sewer Expense1650.0
Waterfront Y/NNo
Year Built1953
Year Built SourcePublicRecords

Exterior for 164 Walnut Street

Building Area Total3586.0
Crops Included Y/NNo
FencingWood
Foundation DetailsSlab
Horse Y/NNo
InclusionsAll appliances that belong to seller
Irrigation Water Rights Y/NNo
Lot FeaturesFrontYard, RectangularLot
Lot Size Acres0.4
Lot Size Area17424.0
Lot Size SourceAssessor
Lot Size UnitsSquareFeet
Number of Buildings3
Number of Separate Electric Meters5
Number of Separate Gas Meters5
Number of Separate Water Meters2
Open Parking Y/NNo
Parking FeaturesDoorSingle, Garage
Road Frontage TypeAlley
Road Surface TypePaved
SpaNo
Total Parking11.0
Water SourcePublic

Additional Details

Price History

1527188455

First Team Client Services

Price $3,400,000
MLS#OC24041909
List Date 02/29/2024
Property Type Multi-Family
Phone 714.964.3311
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