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116-120 E 21st St
Costa Mesa, CA 92627
Pride of Ownership - East Costa Mesa · Multifamily Property For Sale
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8 Units
PROPERTY FACTS
| No. Units | 8 | Building Size | 7,281 SF |
| Property Type | Multifamily | Average Occupancy | 100% |
| Property Subtype | Apartment | No. Stories | 2 |
| Apartment Style | Low-Rise | Year Built | 1968 |
| Building Class | C | Parking Ratio | 2.61/1,000 SF |
| Lot Size | 0.31 AC | ||
| Zoning | R2 | ||
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.31 AC |
| Building Size | 7,281 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1968 |
| Parking Ratio | 2.61/1,000 SF |
| Zoning | R2 |
ABOUT 116-120 E 21ST ST , COSTA MESA, CA 92627
Pride of ownership, 8 Units, located in highly desired East Costa Mesa, one of Orange County's premier rental markets bordering the affluent city of Newport Beach. From this location tenants enjoy convenient access to world class beaches, the Newport Back Bay Trails, a plethora of hip dining establishments and South Coast Plaza, the nation's largest shopping center on the West Coast. The East 21st Street Apartment Homes have been immaculately maintained by the current ownership with several interior and exterior renovations completed. Improvements include dual pane windows, kitchens, cabinets, granite counters, stand-up showers, remote access iron gates, concrete stairs, new asphalt sealcoat, modern exterior paint scheme and much more. A collection of eight spacious 2 bedroom units with an average size of roughly 910 square feet each. The size of the units and the location, have made these units easy to rent, attracted longer-term tenants and has produced solid income. Current rents average $1,692 and market rents are roughly $1,975 for similar rentals. An excellent turn-key investment property for an astute investor with roughly 15% of upside in rental income.
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 2+1 | 8 | - | 910 |
PROPERTY TAXES
| Parcel Number | 426-121-02 | Improvements Assessment | $669,309 |
| Land Assessment | $2,872,461 | Total Assessment | $3,541,770 |
PROPERTY TAXES
