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631 Shalimar Drive
Costa Mesa, CA 92627
Sold
Coastal apartments have long been a favored choice among real estate investors due to their promising appreciation rates and strong rental income potential. In this regard, Costa Mesa has emerged as an increasingly attractive option, propelled by factors such as gentrification, substantial growth, the general appeal of renting among young professionals, and its proximity to the thriving real estate markets of Newport Beach and Huntington Beach. The subject property is less than a quarter mile to Eastside Costa Mesa, the bustling retail hub on 17th Street, and the 55 freeway. Additionally, the property is located approximately 1.25 miles from the Pacific Coast Highway (PCH). There are four large sized 1-bedroom 1- bath units in well-maintained condition. Among the appealing aspects of this property is its adjacency to a variety of retail establishments, including PetSmart, Trader Joe's, O'Reilly's Auto Parts, and Walgreens, thereby enriching the overall quality of life needed for its 1-bedoom renting tenants. Considering its prime location, substantial rental growth potential, and the prospect of securing excellent tenants, this property stands as a valuable addition to an investor's expanding portfolio or as an ideal starting point for someone entering the real estate market.
PROPERTY INFORMATION
| MLS # | PW24047406 | Lot Size | 6,023 Sq. Ft. |
| HOA Fees | $0/Monthly | Property Type | Commercial/Residential |
| Price | $ 1,600,000
Price Per SqFt: $ 527 |
DOM | 415 Days |
| Address | 631 Shalimar Drive | Type | Residential Income |
| City | Costa Mesa | Sq.Ft. | 3,038 Sq. Ft. |
| Postal Code | 92627 | Garage | 4 |
| County | Orange | Year Built | 1957 |
| Bed / Bath | 4 / 0 | Parking | 4 |
| Built In | 1957 | Status | Closed |
| Sold Date | 2024-04-29 |
INTERIOR FEATURES
| Has Laundry | No |
| Laundry Information | None |
| EntryLocation | 1 |
| Entry Level | 1 |
EXTERIOR FEATURES
| Has Pool | No |
| Pool | None |
WALKSCORE
MAP
MORTGAGE CALCULATOR
- Principal & Interest:
- Property Tax: $1,707
- Home Insurance:$119
- HOA Fees:$0
- Mortgage Insurance:
PRICE HISTORY
| Date | Event | Price |
| 04/29/2024 | Sold | $1,600,000 |
| 04/03/2024 | Active Under Contract | $1,600,000 |
| 03/08/2024 | Listed | $1,600,000 |
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Listing provided courtesy of Justin White, Justin White. Based on information from California Regional Multiple Listing Service, Inc. as of #Date#. 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.
