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3133 Coral Avenue

Costa Mesa, CA 92626

– beds
– baths
– sqft
12,632 sqft lot
1970 build
– on site

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Priced attractively below market value due to the currently low rents, this outstanding income property provides upside to the new owner to achieve an approximate 40% increase in Gross Scheduled Income and approximate 4% CAP rate. Take advantage of this unique opportunity to own a unicorn among the neighboring properties in the desirable Mesa Verde area of Costa Mesa. This 3-unit property consists of a 4-bedroom, 2-bathroom custom detached home with fireplace (1,663 sq ft) built for the owners in 1996, plus a duplex includes comprised of a generously sized 3-bedroom, 2-bathroom unit with fireplace, as well as a comfortable 2-bedroom, 1.5-bathroom unit. The expansive 12,500 sq ft lot allows for each unit to feature a private patio and/or yard, enhancing the living experience for tenants. Additionally, the property provides 3 garage spaces and 6 private parking stalls. For added convenience, laundry hookups are available in each unit, offering a competitive edge in the rental market. The owner has recently renovated the interiors of all 3 units and installed brand new garage doors. Great for an Owner User or 1031 Exchange Buyer, this investment property is not to be overlooked. Schedule your viewing today.

Listed By CRMLS_CA / Bronwyn Jones / The Oppenheim Group

Last checked: Checking… • Last updated Dec 31, 2023 •

MLS# NP23074389 —

The Building

Year Built:

1970
Year Built Source:

Assessor
New Construction:

No
Construction Materials:

Drywall Walls, Stucco
Building Area Total:

3950.00
Building Area Units:

Square Feet
Total Number Of Units:

3
# of Buildings:

2
Architectural Style:

Spanish
Roof:

Composition, Flat, Spanish Tile
Foundation:

Slab
Stories Total:

2
Entry Level:

1
Number With Patio:

3
Common Walls:

1 Common Wall, No One Above, No One Below
Faces:

Southwest

Interior

Features:

Ceiling Fan(s), Living Room Balcony, Living Room Deck Attached, Stone Counters, Storage, Wet Bar
Levels:

Two
Entry Location:

Ground Level
Window Features:

Double Pane Windows
Flooring:

Carpet, Laminate
Room Type:

Entry, Jack & Jill, Kitchen, Laundry, Living Room, Main Floor Bedroom, Main Floor Master Bedroom, Master Bathroom, Master Bedroom
Fireplace:

Yes
Fireplace:

Living Room, Gas
Laundry:

Common Area, Gas & Electric Dryer Hookup, In Garage, Inside, Washer Hookup
Laundry:

1

Location

Directions:

From Harbor Blvd turn West on Date Pl, turn right on Cinnamon Ave,turn left on Coriander Ave, at end of street turn right on Coral Ave property on the left.
Latitude:

33.68452700
Longitude:

-117.92514200

The Property

Property Type:

Residential Income
Subtype:

Triplex
Property Condition:

Turnkey, Updated/Remodeled
Lot Features:

Back Yard, Cul-De-Sac, Front Yard, Landscaped, Lawn, Lot 10000-19999 Sqft, Near Public Transit, Park Nearby, Yard
Lot Size Area:

12632.0000
Lot Size Acres:

0.2900
Lot Size SqFt:

12632.00
Lot Size Source:

Assessor
View:

None
Fencing:

Block, Excellent Condition, New Condition, Partial, Security, Wood
Fence:

Yes
Security Features:

Carbon Monoxide Detector(s), Smoke Detector(s)
Road Frontage:

City Street
Road Surface Type:

Paved
Property Attached:

1
Additional Parcels:

No
Land Lease:

No

Listing Agent

Contact info:

Taxes

Tax Census Tract:

638.06
Tax Tract:

5475
Tax Lot:

21,22

The Listing

Special Listing Conditions:

Standard
Parcel Number:

13949128
Showings Begin:

2023-05-04

Heating & Cooling

Heating:

1
Heating:

Forced Air
Cooling:

Yes
Cooling:

Central Air

Utilities

Utilities:

Cable Connected, Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected
Sewer:

Public Sewer
Water Source:

Public

Appliances

Appliances:

Convection Oven, Dishwasher, Disposal, Gas & Electric Range, Gas Oven, Range Hood
Included:

Yes

The Community

Features:

Urban
Association:

No
Pool:

None
Senior Community:

No
Private Pool:

No
Spa Features:

None

Parking

Parking:

Yes
Parking:

Driveway, Paved, Garage, Garage Faces Front, Garage - Single Door, Garage - Two Door, Garage Door Opener, Off Street, Side by Side, Uncovered
Parking Spaces:

9.00
Garage Spaces:

3.00
Uncovered Spaces:

6.00

Extra Units

Average 2 Bed Area:

1000
Average 3 Bed Area:

1475
Number With Carpet:

3
Number With Disposal:

3
Number With Dishwasher:

3

Explore the Area

My Commute

From

Walk Score®

Provided by WalkScore® Inc.

Soundscore™

Provided by HowLoud

Sale history

Date	Event	Source
8/13/23 Aug 13, 2023	Price Changed	BRIDGE
8/12/23 Aug 12, 2023	Price Changed	CRMLS_CA
6/22/23 Jun 22, 2023	Listed / Active	CRMLS_CA

Multifamily Sold on 6/16/2023

$1,725,000

Listing provided by broker:

Bronwyn Jones

The Oppenheim Group

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Listing Courtesy of: CRMLS_CA and The Oppenheim Group. Based on information from California Regional Multiple Listing Service, Inc. as of 14:47 on Dec 18.

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.

3133 Coral Avenue

Costa Mesa, CA 92626