Sold

432 Hamilton Street

Costa Mesa CA, 92627

$2,025,000


$681.36 per sqft

Sold

2,972 sqft

Multi-family

Built in 1977

Listed by Rick Applebaum with Morgan Skenderian 949-251-8800

Pleased to present 432 Hamilton Street, a turnkey triplex in Costa Mesa’s developing West Side. This immaculate building has been meticulously improved and upgraded in 2023 with all units receiving new kitchen cabinets, stone countertops, new appliances, fixtures, lighting, vanities, shower enclosures and more. The exterior of the property has recently been painted and all windows and sliders are brand new. The property is comprised of two large two-bedroom/two-bathroom units and one large three-bedroom/two-bathroom unit that will be delivered fully furnished with brand new furniture, televisions and decorative items. Each unit also contains a private patio or balcony with one unit receiving an expansive backyard. Every tenant of the property enjoys washer and dryer hookups, and each unit comes with new washer/dryer machines, refrigerators and microwaves included in the rental. Three individual garages are available for parking along with (5) open parking spaces. The current owner has obtained approval for the ability to construct (2) additional ADU’s. Each ADU would be a two bedroom/two bathroom unit which would add approximately 1,551 rentable square feet to the premises. All plans and documents will be transferred with the sale and new ownership will only need to obtain their permits and immediately begin construction. The existing unit income added to the additional income from the new ADU’s will produce a projected 11.7% cash-on-cash return which includes the costs to build the new units. Not to mention, the value of the ADU's are estimated to be more than twice as much as their cost to build and these units would not be subject to current rent control laws. This is a rare opportunity to purchase a turnkey property with the potential for massive growth.

PW23156325

MLS ID

August 21, 2023

Listed

November 22, 2023

Updated

Map

432 Hamilton Street
Costa Mesa CA, 92627

Interior Features

Total Stories

2


Appliances

Dryer, Washer


Fireplace

No


Cooling

No


Heating

No

Exterior/Building Features

Lot Size

0.2 acres


Sewer

Public Sewer

Other Property Details

Area Name

699 - Not Defined


Taxes

$24,401


Tax Frequency

Annually


Days on Market

49


Association Amenities

Gutter(s), Sidewalks


Garage

Yes


Garage Spaces

3


Parking

Assigned


Parking Total

8


View

No


County

Orange


Water Source

Public


Pool

No


Pool Features

None


Buyer Agency Compensation

2%

Listing History

Date

Event

Price

11/22/2023

Price Change

$2,025,000

-8%

11/22/2023

Sold

11/21/2023

Pending

10/10/2023

Under Contract

Listing Contact: 949-251-8800 

Based on information from the California Regional Multiple Listing Service (CRMLS) as of 11/22/2023. 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, the 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. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. Any offer of compensation is made only to participants of the MLS where the listing is filed.

©2023 California Regional Multiple Listing Service (CRMLS) all rights reserved.

Data last updated on 11/22/2023 at 7:07 PM UTC

 

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