1582 Coriander Drive

Costa Mesa, CA 92626 View Map $1,735,000 Schedule a Tour
Acres0.19
Year1965
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Christian Walsh

Christian Walsh

(949) 635-4466
 
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Status: Active
Property Type:Residential Income (Multi-Family)
MLS #:PW20188585
On Site:52 Days
Lot Size:0.19 Acres
County:Orange
We are pleased to offer 1582 Coriander Drive, a 4-unit apartment investment opportunity located in the coastal community of Costa Mesa. Located in the highly coveted "Spice Streets" neighborhood of the Mesa Verde area, this Covington-style 4-plex offers stand out curb appeal on a street full of pride-of-ownership properties. Comprised of 2 & 3-bedroom units, this investment opportunity is located close to major retail, dining, and shopping, and approximately 1.5 miles from the ever-expanding Orange Coast College (OCC). Tenants enjoy large units with on-site laundry and spacious exterior common areas. The Coriander Drive apartments will offer continuous growth and appreciation that will be further amplified by a new owner improving and modernizing interiors that will allow an investor to capitalize on market rents and improve cash-flow. *Fantastic "Spice Streets" Location within Mesa Verde *Excellent Mix of 2 & 3-Bedroom Units *Ample Garage Parking and Additional Open Spaces *Priced Below Most Recent Sales in the Neighborhood *Impressive Growth Potential *New Exterior Paint

Mortgage Calculator

$000 Monthly Payment
Loan and interest only. Taxes and insurance not included.

Detailed Maps

Price Change History

Date Old Price New Price Percent Change
9/29/2020$1,750,000$1,735,000-0.9%

Community Information

Address:1582 Coriander Drive Costa Mesa, CA 92626
County:Orange
Subdivision:Other (Othr)
Zip Code:92626

Architecture

Year Built:1965
Stories:Two
Total Units: 4
Unit 1: 1 Unit•2 Beds•2 Baths•1 Garage•Unfurnished•$1,670 actual rent•$1,670 total rent•$2,000 pro forma
Unit 2: 1 Unit•2 Beds•2 Baths•1 Garage•Unfurnished•$1,695 actual rent•$1,695 total rent•$2,000 pro forma
Unit 3: 1 Unit•2 Beds•2 Baths•1 Garage•Unfurnished•$1,750 actual rent•$1,750 total rent•$2,000 pro forma
Unit 4: 1 Unit•3 Beds•2 Baths•1 Garage•Unfurnished•$2,100 actual rent•$2,100 total rent•$2,600 pro forma
Garage Spaces: 5

Features / Amenities

Laundry: Community
Common Walls: No Common Walls
Parking Total: 6

Property Features

Lot Size: 0.19 Acres / 8276 Sq. Ft.
Lot Features: 2-5 Units/Acre
Lot Number: 33
Sewer: Public Sewer
Water: Public
Directions:North of Baker Street & West of Harbor Boulevard

Tax and Financial Info

Land Lease: No
Gardener Expense: 1560.00
Insurance Expense: 1400.00
Maintenance Expense: 4252.00
Other Expense: 4297.00
Total Expenses: 31249.00
Gross Annual Income: 1080.00
Gross Operating Income: 85030.00
Laundry Income: 1080.00

Schools

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1582 Coriander Drive Costa Mesa, CA 92626
GO SEE THIS LISTING
1582 Coriander Drive Costa Mesa, CA 92626
 
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Listing provided courtesy of Rick Applebaum, Morgan Skenderian.
Based on information from California Regional Multiple Listing Service, Inc. as of October 31, 2020. 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. IDX provided by Sierra Interactive.