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712 Shalimar Drive Costa Mesa, CA 92627
$1,780,000

Property listed by Hoag Property Management, Jerry Reyes. IDX Contact: 562-869-1556

Contact Us to Learn More

  • David Oronoz

    David Oronoz

    Principal | Multifamily Investments

    DRE# 01838862

  • Bobby Aschtiani

    Bobby Aschtiani

    Principal | Multifamily Investments

    DRE# 02048373

  • Chris Pettit

    Chris Pettit

    Founder

    DRE# 01983950

Property Description

712 Shalimar is a 4Unit complex, located Westside Costa Mesa, minutes to Newport Beach and Triangle Square. Gross Annual Income is at $90,900 with solid tenants. 712 Shalimar offers an opportunity to acquire a well-maintained property with upside potential in rental income. The property consists of one building on a decent lot at 6,120 square foot lot. There are four units total, two of which are two-bedroom/one-bathroom units and two of which are one-bedroom/one-bathroom units. The property has been very well-maintained and is fully occupied by long-term tenants. Rents are slightly below market and there is upside potential in increasing rents to market levels. The property is located in a great Westside Costa Mesa location, just minutes away to Newport Beach and Triangle Square Shopping Center. This is an ideal investment opportunity for an investor looking for a turnkey property with solid rental income and upside potential in the future.

Property Details & Features

Property Type

  • Residential Income

Year Built

  • 1962

House

  • 2 total stories
  • Built in 1962
  • Stories: 2
  • 3450 total building sqft
  • No Common Walls
  • Two

Community

  • Street Lights
  • Sidewalks

Expenses

  • Electric Expense: $900
  • Insurance Expense: $1,800
  • Operating Expense: $10,870
  • Water Sewer Expense: $1,200

Garage

  • 4 garage spaces

Income

  • Gross Income: 90900
  • Gross Scheduled Income: 89400
  • Net Operating Income: 85280

Laundry

  • Common Area

Listing

  • Listing ID: DW22170432
  • Listed on 2022-08-02
  • Rent controlled

Location

  • County: Orange
  • Subdivision: Other (OTHR)

Lot

  • 6098 sqft
  • 0.14 acres
  • Area: 6098
  • Front Yard
  • Lawn
  • Landscaped
  • Yard

Parking

  • 4 open parking spaces
  • 8 total parking spaces
  • Driveway
  • Garage

Property

  • Single building
  • 4 units

Sewer

  • Public Sewer

Tenant Pays

  • Cable TV
  • Electricity
  • Gas

Utilities

  • 5 separate electric meters
  • 5 separate gas meters

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