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
1/61
null | 5.65% 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 $177,409)
  • 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

Turn-key five-unit multifamily in Costa Mesa's desirable Westside - two newly constructed 2024 ADUs plus three fully renovated 2023 units with modern kitchens (stone counters, stainless appliances), in-unit laundry, and private yards/patios. Currently master-leased at $19,000/month ($228,000/yr) for stable, guaranteed in-place income at a 5.65% cap, with mark-to-market upside on conversion to individual leases (market NOI $177,409 vs $169,494 in-place; 5.91% market cap). Excellent mix of all 2- and 3-bedroom units (one 3BR/2BA, four 2BR/2BA), six off-street parking spaces, and gas/electric individually metered. Building 4,522 SF on an 8,786 SF lot. Prime Westside location minutes from the beach, 17th Street retail, and Triangle Square. Priced at $3,000,000 ($600,000/unit, $663/SF). Address withheld - contact broker.

FOR SALE DETAILS

PRICE

$3,000,000 USD

PRICE/SF

$663 USD /SF

# OF UNITS

5

PRICE/UNIT

$600,000

CAP RATE

5.65%

% 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.