Costa Mesa, CA 92627 432 Hamilton Street
$3,750,000
51 more
Presented By: Mark Simon with Berkshire Hathaway Homeservice; 949-872-8322
SQFT • 4,522
Home Details
Pleased to present 432 Hamilton Street, a turnkey 5 Unit apartment complex in Costa Mesa's gentrifying west side neighborhood. This complex offers an excellent 4.8% Cap Rate return at the new tax basis and was recently appraised for $3.87M. Two brand new 2 bedroom, 2 bath apartments, each 775 SF, were constructed in 2024. The previously existing 3 unit building was painstakingly improved and upgraded in 2023 with new kitchen cabinets, stone counter tops, new appliances, fixtures, lighting, vanities, shower enclosures and much more. The exterior of the previously existing 3 unit building has been recently repainted and the all the windows and sliding glass doors are brand new. The 3 unit building includes two large 2 bedroom, 2 bath apartments and one generously sized 3 bedroom, 2 bath apartment. Each unit in the previously existing 3 unit building also enjoys a private patio or balcony, and one of the units has a large yard. Each of the 5 units has a brand new, refrigerator, microwave, and washer/dryer. There are 5 off street parking spaces (3 standard and 2 tandem).
Presented By: Mark Simon with Berkshire Hathaway Homeservice; 949-872-8322
Interior Features for 432 Hamilton Street
Other Interior Features
Air Conditioning Y/NNo
Basement (Y/N)No
Common WallsOneCommonWall
Fireplace Y/NNo
Heating Y/NNo
Laundry FeaturesWasherHookup
Total Stories2
Other Rooms
Entry Level1
General for 432 Hamilton Street
Additional Parcels Y/NNo
AppliancesMicrowave, Refrigerator, Dryer
Attached Garage No
Building Area UnitsSquareFeet
Cap Rate4.56
Carport Spaces0.0
Carport Y/NNo
CityCosta Mesa
Community FeaturesCurbs, Sidewalks, Urban
CountyOrange
Days on Market73
DirectionsHarbor and Hamilton are the main cross streets.
Electric Expense1090.0
Electric On Property Y/NNo
Entry Location1
Fuel Expense1090.0
Garage Spaces0.0
Garage Y/NNo
Gross Income233820.0
HOA0.0
Home Owner AssocNo
Home Warranty Y/NNo
Insurance Expense2635.0
Land Lease Y/NNo
Lease Considered Y/NNo
Lease Renewal Y/NNo
Lot Size Square Feet8800.0
Lot Size UnitsSquareFeet
MLS Area699 - Not Defined
MaintenanceExpense7500.0
MobileHomeRemainsYNNo
Net Operating Income177443.0
New ConstructionYes
Number of Units Leased3
NumberOfUnitsTotal5
Open Parking Spaces5.0
Operating Expense39377.0
Pool FeaturesNone
Private PoolNo
Property ConditionTurnkey
Property Sub Type AdditionalApartment
Property SubTypeApartment
Property TypeResidentialIncome
Rent Control Y/NNo
Senior Community Y/NNo
SewerPublicSewer
Spa FeaturesNone
Special Listing ConditionsStandard
Standard StatusActive
StatusActive
Tax Lot10
Tenant PaysCableTv, Electricity, Gas
TermsCash, CashToExistingLoan
Total Actual Rent11659.0
Trash Expense1090.0
View Y/NNo
Water Sewer Expense1090.0
Waterfront Y/NNo
Year Built2024
Year Built SourceOwner
Exterior for 432 Hamilton Street
Building Area Total4522.0
Crops Included Y/NNo
Horse Y/NNo
Irrigation Water Rights Y/NNo
Lot FeaturesTwoToFiveUnitsAcre
Lot Size Acres0.202
Lot Size Area8800.0
Lot Size SourceAssessor
Number of Buildings2
Number of Separate Electric Meters5
Number of Separate Gas Meters5
Number of Separate Water Meters1
Open Parking Y/NNo
Parking FeaturesDriveway
Road Frontage TypeCityStreet
Road Surface TypePaved
SpaNo
Total Parking5.0
Water SourcePublic
Additional Details
Price History
Stephen Pliaconis
Pliaconis Realty Group REALTOR® DRE 02015480