1762 Kenwood Place
Costa Mesa, CA, 92627 $ 3,525,000
Bedrooms10 Baths3.0 Sq 6,771 Monthly Estimate*
$ 23,428
Listed by Marcus & Millichap RE Invest
for $3,525,000 with 10 bedrooms and 3 full baths. This 6,771 square foot home was built in 1961 on a lot size of 0.48.
Kenwood Place Apartments is an 8-unit multifamily investment property located in Costa Mesa, California. Built in 1961, the single-story property offers a mix of 6, one-bedroom units and 2, two-bedroom units. Amenities at Kenwood Place Apartments include ample carport and surface parking, in-unit laundry hookups, private patios, and an on-site laundry facility. Current ownership has invested significant capital into interior and exterior improvements with desirable upgrades including fresh paint, vinyl flooring, quartz countertops, stainless steel appliances, shaker-style cabinetry, and more. The property benefits from its unparalleled Costa Mesa location, in close proximity of parks as well as schools belonging to the highly rated Newport-Mesa Unified School District. Residents at Kenwood Place Apartments enjoy convenient access to an abundance of everyday needs as well as dining and entertainment options at Triangle Square and Costa Mesa Courtyards. Additionally, the property is just 0.30 miles 17th Street a 1.25-mile retail corridor that features a plethora of grocers, retailers restaurants, and bars. Furthermore, Kenwood Place Apartments is just over 1.30 miles from the Balboa Peninsula, home to some of Newport’s most famous retail, dining, and recreation hotspots. The property benefits from it’s close proximity to State Route 55 & Pacific Coast Highway, connecting residents to employment hubs throughout Southern California. The Costa Mesa submarket is among the strongest performing areas in metro Orange County, with an average occupancy of 96.5 percent (Q4 2023) and average year-over-year effective rent growth of 8.9 percent (between 2021 to 2023), demonstrating the strong demand for rental housing. Costa Mesa’s coastal location, strong economic growth, and unmatched local attractions have made it one of Southern California’s most desirable and versatile markets. Given the Coastal Orange County location, the property offers an investor the ability to capture quality tenants seeking a convenient location with access to a wide variety of area amenities. This overall demand for well-located apartments will be a key driver in the continued growth at Kenwood Place Apartments.
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FeaturesGeneralSewer PublicSewer
HOA 0.0
Garage Spaces 0.0
Pool Features None
Year Built 1961
Stories 1
Levels One
Property SubType Apartment
Gross Income 230785.0
Community Features Curbs Gutters Sidewalks
County Orange
Net Operating Income 154733.0
Operating Expense 69154.0
Insurance Expense 6000.0
New Construction N
Property Type ResidentialIncome
HOA / Comm Assn N
Attached Garage N
Subdivision Name Westside Costa Mesa South (WSCM)
Garage Y/N N
Special Listing Conditions Standard
Status Pending
Directions Cross Streets of Kenwood Place & West 18th Street
City Costa Mesa
Entry Location First level
View Y/N N
Senior Community Y/N N
Open Parking Spaces 8.0
NumberOfUnitsTotal 8
MLS Area C2 - Southwest Costa Mesa
Lot Size Units Acres
Lot Size Square Feet 20908.8
Private Pool N
Waterfront Y/N N
Carport Spaces 8.0
Carport Y/N Y
Street Name Kenwood
Listing Terms Cash CashtoNewLoan Item1031Exchange
Property Attached Y/N N
Land Lease Y/N N
Electric Expense 725.0
Home Warranty Y/N N
Fuel Expense 725.0
Trash Expense 725.0
Water Sewer Expense 727.0
Lease Renewal Y/N N
Additional Parcels Y/N N
Lease Considered Y/N N
Rent Control Y/N N
Days on Market 4
Building Area Units SquareFeet
Standard Status Pending
Year Built Source Assessor
Tax Lot 43
Property Sub Type Additional Apartment
Taxes 36953.0
Cap Rate 4.39
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ExteriorLot Features StreetLevel
Water Source Public
Total Parking 16.0
Lot Size Area 0.48
Number of Buildings 1
Spa N
Building Area Total 6771.0
Lot Size Acres 0.48
Lot Size Source Assessor
Number of Separate Water Meters 1
Number of Separate Gas Meters 8
Number of Separate Electric Meters 8
Crops Included Y/N N
Open Parking Y/N N
Horse Y/N N
Irrigation Water Rights Y/N N
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InteriorTotal Stories 1
Common Walls NoCommonWalls
Basement (Y/N) N
Air Conditioning Y/N N
Heating Y/N N
Fireplace Y/N N
Street Suffix Place
Laundry Features CommonArea
Entry Level 1
Electric On Property Y/N N
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* Excluded FeaturesList ByMarcus & Millichap Re InvestBroker
Affordability Calculator
- Monthly Principal & Interest
- $23,428
- Monthly Property Taxes
- --
- Monthly Home Insurance
- --
Default based on a 30-year fixed rate of 6.99% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.
Learn more about how to save NearbyMulti-family listings in Costa Mesa, CA
Average List Price $2,780,000
Percent of Sale Price 21%
About Costa Mesa, CA 114,059 Population
4% Since 2002
$ 74,468 Median Income
36.81 Median Age
27% Households with Children
Trends Information provided by ATTOM Data Solutions.
273443 Elementary School
272636 Middle School
Unknown High School High School
Pricing HistoryDate | Price | Price Change | Description |
---|
5/14/2024 | $3,525,000 | | Listed Price |