Listed by: Austin Criss, Arbor Real Estate
$1,535,000
●
House -
Off Market
641 Cove Street
Costa Mesa, CA 92627
5 Beds
3 Baths
1,839 Ft²
$7,611
Est. Monthly
About This Property
Incredible investment opportunity and multifamily living in a
highly desirable neighborhood. Experience the perfect blend of
functionality and style with this exceptional property, complete
with a newly constructed ADU. Located in a family-friendly area,
the residence features a recently remodeled 4 bedroom, 2 bathroom
main house and a stunning two-story ADU with 1 bedroom and 1
bathroom. Designed with a long-term investment focus, this property
boasts exquisite finishes, high-quality materials, and minimal
upkeep. The beautifully renovated front and backyard offer a
low-maintenance design with turf, rock, and mulch, not only saving
on water costs but also providing a tranquil environment for
complete serenity. The backyard is enhanced with a large storage
shed, an inviting deck for entertaining, and a spa for ultimate
relaxation. Beyond the comforts of home, this property is
conveniently close to Triangle Square, Newport Beach, Costa Mesa
Country Club, and provides easy freeway access. Seize this
incredible investment opportunity situated in a rising
neighborhood.
Unit Size
1,839 Ft²
Days on Market
50 days
Land Size
0.15 acres
Price per sqft
$843
Property Type
House
Property Taxes
-
HOA Dues
-
Year Built
1955
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Cap Rate
100% Occupancy
N/A (extreme outlier) What does this mean?
Based on our analysis, the cap rate of this property is 1.25%. A negative cap rate indicates that the property might not be feasible as an income-producing asset. The median cap rate for a near zip code 11238 is 4.23%.
How much can I actually make?
Actual monthly rental income may vary between $4,760 and $7,140 depending on unit-specific characteristics. You can change the amount using the slider to further explore.
How is cap rate calculated?
Cap Rate = Net Operating Income (NOI) / Property Asset Value.
When calculating the cap rate, we assume 100% occupancy. Leverage (mortgage) is not considered.
Cap Rate provided by RealtyHop and RentHop, learn more about cap rate here.
Last updated: 3 years ago (CRMLS #NP24157390)
Price History
| Date / Event | Date | Event | Price |
|---|---|---|---|
| Sep 20, 2024 | Sold | ||
| Sold | |||
| Aug 15, 2024 | In contract | - | |
| In contract | |||
| Jul 31, 2024 | Listed by Arbor Real Estate | $1,550,000 | |
| Listed by Arbor Real Estate | |||
| Oct 6, 2021 | No longer available | - | |
| No longer available | |||
| Oct 28, 2020 | In contract | - | |
| In contract | |||
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Property Highlights
Air Conditioning
Fireplace
Building Info
Data used for valuation calculations is provided by RealtyHop, and other third party sources
Comparables
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Type
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Baths
ft²
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HOA + Taxes
About Costa Mesa
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Listed by: Austin Criss, Arbor Real Estate
Last Updated: 3 years ago
Data Source: CRMLS, MLS# NP24157390
Last Updated: 3 years ago
Data Source: CRMLS, MLS# NP24157390
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