1959-1961 Maple Ave - Apartments FOR SALE


Costa Mesa, CA 92627- Downtown Costa Mesa
$17,250,000 USD
949-756-3232
1959-1961 Maple Ave, Costa Mesa, CA for Sale
$17,250,000 USD
Apartments - FOR SALE
1/16
null | 4.61% Cap Rate

1959-1961 Maple Ave
Costa Mesa, CA 92627
Downtown Costa Mesa


HIGHLIGHTS

  • Rare Opportunity in Excellent Neighborhood of Costa Mesa Spanning Nearly 2 Acres
  • Desirable Unit Mix of Spacious 1 and 2 Bedroom Floor Plans
  • Fully Renovated Exterior with Resort-Style Pool and Three Large Courtyards
  • 24 Upgraded Units with 13 Featuring In-Unit Washer and Dryer
  • Over 2:1 Parking Ratio; 53 Open and 34 Garage Parking Spaces

OVERVIEW

We are pleased to present Westside Apartments, a 40-unit multifamily community nestled in the highly desirable Westside Costa Mesa submarket. The property offers one and two bedroom floor plans across a quiet, private setting featuring three landscaped courtyards, three BBQ areas, and a recently upgraded resort-style pool with an open-air lounge area. Twenty-four units have been thoughtfully renovated most with custom cabinetry, laminate flooring, undermount farmhouse sinks, ceiling fans, and fully renovated bathrooms. Thirteen units include in-unit washers and dryers, and 20 feature large private patios or balconies. Other upgrades include submetered electric, fresh exterior paint, and a security camera system. With over a 2:1 parking ratio including 34 garages and 53 open spaces, plus the opportunity to develop ADUs, Westside Apartments presents an opportunity for an investor to acquire a pride-of-ownership property with upside in rents.

FOR SALE DETAILS

PRICE

$17,250,000 USD

PRICE/SF

$649 USD /SF

# OF UNITS

40

PRICE/UNIT

$431,250

CAP RATE

4.61%

% LEASED

97%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Westside Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1961

PARKING SPACES

73

LAND DETAILS

LAND ACRES

1.95 AC

LAND SF

84,942 SF

ZONING

R3

APN/PARCEL ID

422-141-11

ASK ABOUT THIS PROPERTY

Chris KeramatiTriqor GroupMore Info
949-756-3232

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Chris KeramatiTriqor GroupMore Info
949-756-3232

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.