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120 ALBERT Pl
COSTA MESA, CA 92627
Albert Place Apartments · Multifamily Property For Sale
·
11 Units
PROPERTY FACTS
| No. Units | 11 | Building Size | 9,935 SF |
| Property Type | Multifamily | Average Occupancy | 91% |
| Property Subtype | Apartment | No. Stories | 2 |
| Apartment Style | Low-Rise | Year Built | 1971 |
| Building Class | C | Parking Ratio | 1.41/1,000 SF |
| Lot Size | 0.38 AC | ||
| Zoning | R3, Costa Mesa | ||
| No. Units | 11 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.38 AC |
| Building Size | 9,935 SF |
| Average Occupancy | 91% |
| No. Stories | 2 |
| Year Built | 1971 |
| Parking Ratio | 1.41/1,000 SF |
| Zoning | R3, Costa Mesa |
AMENITIES
UNIT AMENITIES
- Balcony
ABOUT 120 ALBERT PL , COSTA MESA, CA 92627
Albert Place is a prime Eastside Costa Mesa 11-unit building featuring (10) two-bedroom, one-bathroom units and (1) large one-bedroom, one-bathroom unit. Tenants enjoy easy access to Newport Beach Boulevard and the 55, 405, and 73 freeways. It is minutes to the 17th Street retail corridor and the Newport Beach peninsula. A diversified employment base promotes stable fundamentals and keeps vacancies below the metro Orange County rate. Rents have continued to rise and currently vacancies are very low for the area. Eastside Costa Mesa specifically benefits from strong renter demographics of young professionals with healthy incomes who are still priced out of owning. Median home prices are high and costs of home ownership run nearly twice average rents; these factors influence apartment demand and continued strong occupancy rates. A recent recorded sale of 28 units in this Eastside Costa Mesa submarket reflected a P/P/unit of $366,000, 2.82% actual cap rate, and $412 per sq. ft.
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 1 | - | 725 |
| 2+1 | 10 | - | 921 |
PROPERTY TAXES
| Parcel Number | 426-054-16 | Improvements Assessment | $1,059,315 |
| Land Assessment | $3,440,799 | Total Assessment | $4,500,114 |
PROPERTY TAXES
