Undisclosed - Apartments FOR SALE


Costa Mesa, CA 92627- Westside Costa Mesa
$3,000,000 USD
877-622-7789
Undisclosed, Costa Mesa, CA for Sale
$3,000,000 USD
Apartments - FOR SALE
1/26
null | 5.72% Cap Rate

Undisclosed
Costa Mesa, CA 92627
Westside Costa Mesa


HIGHLIGHTS

  • Turn-key condition - two newly constructed 2024 ADUs plus three fully renovated 2023 units
  • Master-leased at $19,000/month - stable, guaranteed in-place income
  • Mark-to-market upside on conversion to individual leases (market NOI $204,335)
  • Excellent unit mix - all 2- and 3-bedroom units with in-unit laundry and private yards/patios
  • Six off-street parking spaces; gas and electric individually metered
  • Prime Westside location - minutes from the beach, 17th Street retail, and Triangle Square

OVERVIEW

Costa Mesa sits at the coastal core of Orange County — a roughly 15-square-mile city of about 113,000 residents wedged between central O.C.'s freeway network and the beaches of the Pacific. Its draw is a combination that is genuinely hard to find at the same address: a real, diversified job base, a walkable retail and dining culture, and a short drive to the shoreline. That mix keeps both renters and owners competing for a housing supply that simply isn't growing fast enough to meet demand. The local economy is unusually broad for a city this size. South Coast Plaza anchors one of the highest-grossing retail districts in the United States, while the surrounding submarket supports technology and design firms, creative studios, medical groups, and a hospitality sector built around the OC Fair & Event Center and the Segerstrom Center for the Arts. That breadth translates into a resilient employment picture and a steady daytime population that underpins rental demand year-round. Families are served by the Newport-Mesa Unified School District and by Orange Coast College, one of California's largest community colleges, and the city plugs into the wider region through the 55, 73, and 405 freeways and nearby John Wayne Airport. Neighborhoods run the full range from quiet single-family pockets to denser, amenity-rich corridors — and the Westside in particular has attracted sustained private reinvestment over the past several years. For a multifamily owner, the conclusion is simple: a supply-constrained coastal market, durable demand from a wide spread of employers and students, and a quality-of-life premium that has historically supported both rents and long-term value retention.

FOR SALE DETAILS

PRICE

$3,000,000 USD

PRICE/SF

$663 USD /SF

# OF UNITS

5

PRICE/UNIT

$600,000

CAP RATE

5.72%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

5 Unit Costa Mesa Multifamily

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1977

PARKING SPACES

6

LAND DETAILS

LAND ACRES

0.2 AC

LAND SF

8,712 SF

ZONING

R2-MD

APN/PARCEL ID

419-171-30,419-171-31

ASK ABOUT THIS PROPERTY

Cindy ChinCindy Chin RealtyMore Info
877-622-7789

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Cindy ChinCindy Chin RealtyMore Info
877-622-7789

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