166 Rochester Street

    Costa Mesa, CA 92627
    • $2,350,000
    • STATUS: Active
    • ON SITE: 9 days
    • ID#: CV19008858
    UPDATED: 63 min ago
    $2,350,000
    • 0
      BEDS
    • 0.16
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 4,442
      SQFT
    • $529
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    2018
    County:

    School Ratings & Info

    Description

    Brand New Construction! Completed in 2018. Two separate large homes on one lot. One home is 4 Bed/3.5 Bath, approx 2393 SF, renting for $5,395/mo. The 2nd home is 3 Bed/2.5 Bath, approx 2049 SF, asking rent $4,600/mo. All bedrooms are located upstairs in both homes, have nine-foot ceilings, & custom made eight-foot interior doors. Custom made wood kitchen cabinets, new slide-in gas range, and other stainless steel kitchen appliances. The subject property offers No Mello Roos and No HOA which offers new owner lower property tax and monthly expense. In addition, each unit can be sold separately which give new ownership a flexible option as an exist strategy for the investment. Located within minutes from the beach and adjustment to the city of Newport Beach, the subject property offers easy access to the California State Route 55, Interstate 405, and Pacific Cost Highway. The building is also within walking distance to The Triangle and minutes drive from Fashion Island, South Coast Plaza, UC Irvine and John Wayne Airport. This investment offers a once in a lifetime opportunity to acquire a brand new investment property in one of the most sought after cities in Orange County. Due to it+GGs ideal location and the age of the building, this investment can sustain it+GGs value by maintaining a strong rental demand and be able to weather any type of the real estate market change.

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    Based on information from California Regional Multiple Listing Service, Inc. as of 2019-01-21T20:32:10.81. 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 deemed reliable but is not guaranteed accurate by the MLS. Licensed in the State of California, USA.
    www.fredsedgroup.com/homes/90806043

    166 Rochester Street Costa Mesa, CA 92627

    • Price: $2,350,000
    • Status: Active
    • Updated: 63 min ago
    • ID#: CV19008858
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.16
    Acres
    4,442
    SQFT
    $529
    $/SQFT
    2018
    Built
    Neighborhood:
    Eastside South (Escm)
    County:
    Orange
    Area:
    C5 - East Costa Mesa
    Property Description
    Brand New Construction! Completed in 2018. Two separate large homes on one lot. One home is 4 Bed/3.5 Bath, approx 2393 SF, renting for $5,395/mo. The 2nd home is 3 Bed/2.5 Bath, approx 2049 SF, asking rent $4,600/mo. All bedrooms are located upstairs in both homes, have nine-foot ceilings, & custom made eight-foot interior doors. Custom made wood kitchen cabinets, new slide-in gas range, and other stainless steel kitchen appliances. The subject property offers No Mello Roos and No HOA which offers new owner lower property tax and monthly expense. In addition, each unit can be sold separately which give new ownership a flexible option as an exist strategy for the investment. Located within minutes from the beach and adjustment to the city of Newport Beach, the subject property offers easy access to the California State Route 55, Interstate 405, and Pacific Cost Highway. The building is also within walking distance to The Triangle and minutes drive from Fashion Island, South Coast Plaza, UC Irvine and John Wayne Airport. This investment offers a once in a lifetime opportunity to acquire a brand new investment property in one of the most sought after cities in Orange County. Due to it+GGs ideal location and the age of the building, this investment can sustain it+GGs value by maintaining a strong rental demand and be able to weather any type of the real estate market change.
    Exterior Features

    Garage Spaces 2.00 Lot Features 0-1 Unit/Acre Lot Size Source Assessor Lot Size Units Square Feet Parking Features Garage - Front Entry Parking Total 2.00 Parking YN Yes Pool Features None Pool Private YN No Property Attached YN No Road Frontage Type City Street Road Surface Type MaintainedPaved Roof CompositionShingle

    Interior Features

    Appliances Built In RangeDishwasherGarbage DisposalGas StoveMicrowaveTankless Water HeaterWater Heater Unit Appliances YN Yes Average Studio Area Units Square Feet Average1 Bed Area Units Square Feet Average2 Bed Area Units Square Feet Average3 Bed Area Units Square Feet Common Walls No Common Walls Cooling Central Cooling YN Yes Fireplace Features None Fireplace YN No Heating Central Furnace Heating YN Yes Laundry Features On Upper Level Levels Two Room Type All Bedrooms UpKitchenLaundryLiving RoomLoftMaster BedroomMaster SuiteWalk-In Closet

    Property Features

    Additional Parcels YN No Association Fee 0.00 Association YN No Building Area Units Square Feet Community Features SidewalksStreet Lighting Country Us Electric Expense 0.00 Elevation Units Feet Fuel Expense 0.00 Gross Income 119940.00 Gross Operating Income 116342.00 Gross Scheduled Income 119940.00 Insurance Expense 0.00 Land Lease YN No Laundry YN Yes Maintenance Expense 4654.00 Net Operating Income 87833.00 New Construction YN Yes New Taxes Expense 23355.00 Number Of Separate Electric Meters 2 Number Of Separate Gas Meters 0 Number Of Separate Water Meters 2 Operating Expense 28509.00 Other Expense 500.00 Other Expense Description Op Resv Rent Control YN No Senior Community YN No Sewer Public Sewer Special Listing Conditions Standard Subdivision Name Other Eastside South (Escm) Total Expenses 28509.00 Trash Expense 0.00 Vacancy Allowance Rate 3.00 Water Sewer Expense 0.00 Water Source Public Year Built Source Builder

    Listing provided courtesy of Edward Pan of Marcus & Millichap


    Based on information from California Regional Multiple Listing Service, Inc. as of 2019-01-21T20:32:10.81. 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 deemed reliable but is not guaranteed accurate by the MLS. Licensed in the State of California, USA.
     
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    Irvine CA, 92604