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Listing 1 out of 58
$2,350,000 New For Sale

166 Rochester Street
Costa Mesa, CA 92627

2 units | Multi Family Home
7004 sq ft - MLS# CV19008858
Property Photo
1/24

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’s ideal location and the age of the building, this investment can sustain it’s value by maintaining a strong rental demand and be able to weather any type of the real estate market change.

Features

  • Property Type: Multi Family Home
  • Sub Type: Multi Family Home
  • New Construction: Y
  • Listing Status: Active
  • Zip Code: 92627
  • Year Built: 2018
  • Subdivision/Neighborhood: Eastside South (Escm)
  • Stories: Two
  • Units: 2 units
  • # of Parking Spaces: 2.00
  • Lot Size: 7004 sq ft
  • Area: C5 - East Costa Mesa
  • Appliances: Built In Range, Dishwasher, Garbage Disposal, Gas Stove, Microwave, Tankless Water Heater, Water Heater Unit
  • Appliances YN: Yes
  • Average 2 Bed Area Units: Square Feet
  • Average 3 Bed Area Units: Square Feet
  • Average Studio Area Units: Square Feet
  • Building Area Total: 4442.00
  • Building Area Units: Square Feet
  • Community Features: Sidewalks, Street Lighting
  • Cooling: Central
  • Cooling YN: Yes
  • Country: US
  • Directions: CA 55 South, Left turn to Rochester Street
  • Garage Spaces: 2.00
  • Gross Income: 119940.00
  • Gross Operating Income: 116342.00
  • Gross Scheduled Income: 119940.00
  • Heating: Central Furnace
  • Heating YN: Yes
  • Laundry Features: On Upper Level
  • Laundry YN: Yes
  • Listing Agent License: 01894476
  • Listing Office License: 00530854
  • Lot Features: 0-1 Unit/Acre
  • Lot Size Area: 7004.0000
  • Lot Size Source: Assessor
  • Lot Size Units: Square Feet
  • MLS: CRM
  • Maintenance Expense: 4654.00
  • Net Operating Income: 87833.00
  • New Taxes Expense: 23355.00
  • Number Of Buildings: 2
  • Number Of Separate Electric Meters: 2
  • Number Of Separate Water Meters: 2
  • Operating Expense: 28509.00
  • Other Expense: 500.00
  • Other Expense Description: Op Resv
  • Parking Features: Garage - Front Entry
  • Parking YN: Yes
  • Road Frontage Type: City Street
  • Road Surface Type: Maintained, Paved
  • Roof: Composition, Shingle
  • Room Type: All Bedrooms Up, Kitchen, Laundry, Living Room, Loft, Master Bedroom, Master Suite, Walk-In Closet
  • Sewer: Public Sewer
  • Stories Total: 2
  • Total Expenses: 28509.00
  • Water Source: Public
  • Year Built Source: Builder
Courtesy of Marcus & Millichap, Edward Pan

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