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558 Joann ST Costa Mesa, CA 92627
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Key Details
Sold Price $2,225,000
Property Type Multi-Family
Listing Status Sold
Purchase Type For Sale
Square Footage 5,962 sqft
Price per Sqft $373
MLS Listing ID OC21128647
Sold Date 11/16/21
HOA Y/N No
Year Built 1964
Lot Size 0.290 Acres
Acres 0.29
Property Description
554 - 558 Joann Street is a 6-unit multifamily investment property located in Costa Mesa, one of the premier coastal housing markets in Southern California. 554 - 558 Joann Street contains an excellent unit mix of 2, 1 bed/1 bath units, 2, 2 bed/1 bath units, 1, 3 bed/1.5 bath unit, and 1, 4 bed/1.5 bath unit, which helps attract a diverse renter pool. Additionally, the property offers amenities including private patios and balconies, carport and uncovered parking, spacious gated front yards, and on-site laundry. Since 554 - 558 Joann Street sits on a large lot, a new owner has the potential to construct additional dwelling units to increase pro forma cash flow. 554 - 558 Joann Street has a fantastic Costa Mesa location, positioned minutes away from world famous beaches and shopping destinations as well as major employment hubs in nearby Newport Beach and Huntington Beach.
Location
State CA
County Orange
Area 699 - Not Defined
Rooms
Ensuite Laundry Common Area
Interior
Laundry Location Common Area
Fireplace No
Laundry Common Area
Exterior
Carport Spaces 8
Pool None
Community Features Curbs, Sidewalks
Total Parking Spaces 11
Private Pool No
Building
Lot Description Front Yard, Level, Street Level
Story 2
Entry Level Two
Sewer Public Sewer
Water Public
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 42216309
Energy Description 1750.5
Acceptable Financing Cash to New Loan, 1031 Exchange
Listing Terms Cash to New Loan, 1031 Exchange
Financing Cash to New Loan
Special Listing Condition Standard
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Bought with Hamid Pashaee • Hamid Pashaee, Broker