246 Cabrillo St

Costa Mesa, CA 92627 View Map $2,200,000 Ask a Question
Sq.Ft. Lot10,603
Year1955
246 Cabrillo St Costa Mesa, CA 92627 | MLS OC21043947 Photo 1
246 Cabrillo St Costa Mesa, CA 92627 | MLS OC21043947 Map
Veronica Hicks

Veronica Hicks

(714) 336-5551

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Status: Sold
Property Type:Residential Income (Multi-Family)
MLS #:OC21043947
Date Sold:5/21/2021
Lot Size:10,603 Sq. Ft.
County:Orange
For the first time ever this iconic East Side Costa Mesa property is for sale! Just steps away from popular 17th St. and Newport Blvd eateries and shopping, this is a PRIME location and would be an excellent addition to an investor's portfolio. Redone in 2016, this one-of-a-kind, mid-century modern property was brought into the 21st century while keeping its endless character intact as exemplified by its unique redwood ceilings. The front and upper units were taken down to the studs and completely remodeled with new kitchen and bathroom cabinets, flooring, showers, windows and MORE. In addition to the interior remodel, the front lower unit has a newer fenced private back patio and lush front yard. The upper unit has a full width front deck with plenty of room for gathering and grilling and the back lower unit has a newer fenced, HUGE back yard with unlimited potential! All three units have open floors plans allowing for tons of natural light to shine through. Boasting an oversized lot this property has plenty of room for expansion, greatly increasing the revenue for investor. Occupied with well qualified tenants, rents have been received in full and on time throughout covid. **Buyers to verify expansion and ADU restrictions/requirements/qualifications with the city**

Detailed Maps

Price Change History

Date Old Price New Price Percent Change
5/22/2021$1,799,000$2,200,00022.3%

Community Information

Address:246 Cabrillo St Costa Mesa, CA 92627
Area:C5 - East Costa Mesa
County:Orange
Subdivision:Eastside Heights (Ehcm)
Zip Code:92627

Architecture

Year Built:1955
Stories:2
Style:Mid-Century Modern
Construction Materials: Redwood Siding
Number of Buildings: 3
Total Units: 3
Unit 1: 2 Units•2 Beds•1 Bath•Unfurnished•$2,750 actual rent•$5,500 total rent•$5,700 pro forma
Unit 2: 1 Unit•2 Beds•1 Bath•Unfurnished•$3,300 pro forma
Roof: Composition
Garage Spaces: 2.0
Open Parking Spaces: 3.0
Parking Total: 5.0

Features / Amenities

Interior Features: Open Floorplan, Bedroom on Main Level, Main Level Master
Appliances: Gas Oven, Gas Range, Refrigerator
Laundry: Inside
Window: Blinds, Screen(s)
Common Walls: No Common Walls
Heating: Wall Furnace

Rooms

Master Bedroom
Bedroom

Property Features

Lot Size: 0.24 Acres / 10,603 Sq. Ft.
Lot Features: Back Yard, Corner Lot, Front Yard, SprinklerSystem
Sewer: Public Sewer
Water: Public
Fencing: Wood
Directions:Newport Blvd to E. 17th St, turo left onto Westminster

Tax and Financial Info

Buyer Financing: Cash
Cap Rate: 4.5
Gross Income: $105,600
Gross Scheduled Income: $105,600
Net Operating Income: $80,911
Insurance Expense: $1,836
Maintenance Expense: $980
New Taxes Expense: $19,789
Trash Expense: $900
Water/Sewer Expense: $900
Operating Expense: $24,689

Listing Agent/Office

Listing provided courtesy of Aaron Valenty, Berkshire Hathaway Homeservice.

Schools

WALKING AND TRANSPORTATION

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Based on information from California Regional Multiple Listing Service, Inc. as of September 19, 2021. 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. IDX provided by Sierra Interactive.
Property Summary:
Home for sale at .

Description: The home at 246 Cabrillo St Costa Mesa, CA 92627 with the MLS Number OC21043947 is currently listed at $2,200,000 and has been on the Costa Mesa market for 124 days.

GeoCoordinates:
-117.915885
33.635557

List Price: $2,200,000

You are viewing the MLS property details of the home for sale at 246 Cabrillo St Costa Mesa, CA 92627, which is located in the Eastside Heights (Ehcm) subdivision, includes 0 bedrooms and 0 bathrooms, and has approximately 0 sq.ft. of living area.