280 E 16th St. Costa Mesa, CA ^$ 2,250,000

280 E 16th St.

^$ 2,250,000

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280 E 16th St.

Costa Mesa, CA, 92627

^$ 2,250,000

Bedrooms4 Baths1.0 Sq 3,134

Monthly Estimate*

^$ 14,954

Listed by Newman Properties, Inc

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Multi-Family Home for sale in Costa Mesa, CA

for $2,250,000 with 4 bedrooms and 1 full bath. This 3,134 square foot home was built in 1964 on a lot size of 0.16.

280 E. 16th St. (4plex) to be sold together with 282 E. 16th St. (duplex). MAY BE SOLD SEPARATELY IF BOTH BUYERS AGREE TO CREATE DRIVEWAY EASEMENT AND CLOSE CONCURRENTLY (Cost of easement to be born equally by buyers and seller). Both properties well maintained with great rental history. Two 2 bed 1 bath units. One lease ends in September 2025. Two 1 bed 1 bath units, one currently available, one lease end September 2024. 3 single car garages in a separate stand alone structure, plus 3 uncovered parking spaces. Laundry on site. Property shows excellent pride of ownership. Great opportunity for upside in rents or develop both properties. All units are in good condition with some recent upgrades. Eastside is one of the most sought after locations in Costa Mesa and Newport Beach. Close to beach, shopping, parks, schools, and freeway access. Come live the good life; live in one, rent the rest.

Multi-Family Active

Price

^$ 2,250,000

Bedrooms

Full Bath

Property Type

Multi-Family

Taxes

^$ 0

Style

Quadruplex

Lot Size

0.16

Year Built

1964

Town/City

Costa Mesa

County/Region

Orange

MLS | Web ID

NP24002007

Days on Market

Features

General

Sewer PublicSewer

Possession SeeRemarks

HOA 0.0

Garage Spaces 4.0

Pool Features None

Year Built 1964

Property SubType Quadruplex

Gross Income 78600.0

Community Features Biking Curbs DogPark StreetLights Suburban

County Orange

Net Operating Income 78600.0

Operating Expense 2400.0

Insurance Expense 2400.0

New Construction N

Property Type ResidentialIncome

HOA / Comm Assn N

Attached Garage N

Garage Y/N Y

Special Listing Conditions Standard

Status Active

Directions Newport Blvd to 16th St. East to property address

City Costa Mesa

Entry Location ground front

View Y/N N

Senior Community Y/N N

NumberOfUnitsTotal 4

MLS Area C5 - East Costa Mesa

Lot Size Units SquareFeet

Lot Size Square Feet 6970.0

Private Pool N

Waterfront Y/N N

Carport Y/N N

Number of Units Leased 3

Street Name 16th St.

Listing Terms Item1031Exchange

Property Attached Y/N Y

Land Lease Y/N N

Electric Expense 120.0

Home Warranty Y/N N

Current Financing Conventional

Fuel Expense 0.0

Trash Expense 2400.0

Water Sewer Expense 1200.0

Lease Renewal Y/N N

Additional Parcels Y/N N

Lease Considered Y/N N

Rent Control Y/N N

Virtual Tour https://www.wellcomemat.com/mls/55qqf946a5af1lj5m https://www.wellcomemat.com/video/55qqf946a5af1lj5m/CM/CA/92627/E-16th-St/NP24002007/

Days on Market 85

Building Area Units SquareFeet

Standard Status Active

Year Built Source PublicRecords

Tax Lot 9

Total Actual Rent 6750.0

Property Sub Type Additional Quadruplex

Expected Active Date 2024-03-08

Exterior

Lot Features Item01UnitAcre

Water Source Public

Total Parking 4.0

Lot Size Area 6970.0

Number of Buildings 1

Spa N

Building Area Total 3134.0

Lot Size Acres 0.16

Lot Size Source PublicRecords

Number of Separate Water Meters 1

Number of Separate Gas Meters 4

Number of Separate Electric Meters 4

Crops Included Y/N N

Open Parking Y/N N

Horse Y/N N

Irrigation Water Rights Y/N N

Interior

Total Stories 2

Common Walls Item2CommonWalls

Basement (Y/N) N

Air Conditioning Y/N N

Heating Y/N N

Fireplace Y/N N

Laundry Features CommonArea

Entry Level 1

Electric On Property Y/N N

Internal Only

Street Number 1 280

* Excluded Features

List By

Newman Properties, Inc

Broker

(714) 504-1915

Phone

Affordability Calculator

$14,954

Per Month

Monthly Principal & Interest: $14,954
Monthly Property Taxes: --
Monthly Home Insurance: --

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Down Payment

Loan Term

Interest Rate

Yearly Property Taxes

Yearly Home Insurance

Default based on a 30-year fixed rate of 6.99% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.

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Nearby

Trends
Schools

Multi-family listings in Costa Mesa, CA

Average List Price ^$2,780,000

Percent of Sale Price 24%

About Costa Mesa, CA

114,059 Population

4% Since 2002

^$74,468 Median Income

36.81 Median Age

27% Households with Children

View more area information

Trends Information provided by ATTOM Data Solutions.

273443 Elementary School

272636 Middle School

Unknown High School High School

See complete school information

Pricing History

Date	Price	Price Change	Description
6/1/2024	$2,250,000	-11.76%	Price Down
3/9/2024	$2,550,000		Listed Price

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280 E 16th St., Costa Mesa, CA, 92627 is a Multi-Family Home for sale at $2,250,000 with 3,134 sqft and a lot size of 0.16. 280 E 16th St. has 4 bedrooms, 1.0 baths, and was built in 1964. The property's zip code is 92627 which is in Costa Mesa, CA

*Information deemed reliable but not guaranteed.

Financial calculator disclaimer: Default based on a 30-year fixed rate of 6.99% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.

Listing data provided courtesy of the Internet Data Exchange Program of the California Regional Multiple Listing Service, Inc..

Based on information from California Regional Multiple Listing Service, Inc. as of 6/4/2024. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.

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280 E 16th St.

Multi-Family Home for sale in Costa Mesa, CA

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