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287 E 16th Place, Costa Mesa, CA 92627
$3,725,000
287 E 16th Place, Costa Mesa, CA 92627View this property at 287 E 16th Place, Costa Mesa, CA 92627
287 E 16th PlaceCosta MesaCA92627
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Property Description
287 E. 16th Place is a unique 8 unit Eastside Costa Mesa investment opportunity advantageously located near the border of Newport Beach and the shopping, dining and entertainment of popular 17th St. in Costa Mesa.
Per assessor, total building square footage is over 9,000 sqft and lot size is over 13,000 sqft. The smart unit mix includes oversized floorplans and features two 3 bedroom/2 bath units, two 1 bedroom/1 bath units and four 2 bedroom/2 bath units. Residents share the charming interior courtyard.
The windows have been replaced throughout the building and most units have upgraded interiors, including newer bathrooms/kitchens and newer flooring.
There is big upside in rental rates, with several units on month-to-month rental agreements. Conservative pro forma rents include: 1 bedroom - $1900, 2 bedroom - $2300 and 3 bedroom - $2750, which equates to a conservative pro forma Gross Scheduled Income of $222,000.
There are two single car garages, plus carport and assigned parking spots. The small laundry room is shared and some units have washer/dryer hookups. Units are separately metered for gas and electric.
Full Property Details
Full Property Details for 287 E 16th Pl
General
- Sold For: $3,725,000
- Status: Closed
- Type: Multi-Family
- MLS ID: PW18212039
- Added to Site: 2, 066 day(s) ago
Rooms
Other Rooms
- Laundry: Community, Inside, Stackable
Additional Information
- Pool Description: None
Parking
- Garage Spaces: 2
- Parking Features: Assigned
- Parking: Assigned
Location
- Area: C5 - East Costa Mesa
- County: Orange
- Development Name: C5 - East Costa Mesa
- Driving Directions: Use 287 E. 16th Pl #1 Costa Mesa, CA 92627 for navigation
Utilities
- Sewer: Public Sewer
- Water: Public
- # Water Meters: 1
- # Gas Meters: 7
- # Electric Meters: 9
Structural Information
- Stories/Levels: Two
- Stories Description: Two
- Square Feet: 9,049
- Year Built: 1963
Lot Features
- Lot Size (Acres): 0.3
- Lot Size Source: Assessor
- Lot Description: 16-20 Units/Acre
Financial Considerations
- Price Per Sq. Ft.: $411.65
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Schools
Schools serving 287 E 16th Pl
School District:Newport-Mesa Unified School District
Rating | Name | Grades | Distance |
---|---|---|---|
300 E 15th St, Newport Beach, CA 92663 | K-6 | 0.2 mi | |
2000 Cliff Dr, Newport Beach, CA 92663 | 7-8 | 0.8 mi | |
600 Irvine Ave, Newport Beach, CA 92663 | 9-12 | 0.6 mi |
Disclaimer: School ratings provided by
GreatSchools. Ratings are on a scale of 1-10.
Learn more about GreatSchools ratings.
School attendance boundaries provided by Pitney Bowes and are for reference only. Contact the school directly to verify enrollment eligibility.
Price & Sales History for 287 E 16th Pl
Date
Details
Price
Change
Source
4/04/2019
Sold
$3,725,000
-1.84%
MLS
1/10/2019
Price Reduced
$3,795,000
-2.57%
MLS
10/22/2018
Price Reduced
$3,895,000
-2.62%
MLS
8/30/2018
Listed
$4,000,000
—
MLS
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
287 E 16th Place, Costa Mesa, CA 92627 (MLS# PW18212039) is a Multi-Family property that was sold at $3,725,000 on April 04, 2019. Want to learn more about 287 E 16th Place? Do you have questions about finding other Multi-Family real estate for sale in Costa Mesa? You can browse all Costa Mesa real estate or contact a Coldwell Banker agent to request more information.