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1383 Baker St - Baker St. Apartments 3 Unit Apartment Building Offered at $1,600,000 at a 3.41% Cap Rate Costa Mesa, CA 92626
Investment Highlights
- Rental upside of 18–24% to proforma rents of $2,800–$2,950/mo across all 3 units
- 1,100 SF townhouse unit commands premium positioning at $2,950/mo proforma in tight Costa Mesa rental market
- Great Location of Costa Mesa
Executive Summary
Well-maintained triplex consisting of all 2-bedroom units with one 2x1.5 Townhome unit in a desirable Costa Mesa location. The property is in good condition with significant upside in rents, offering a new owner the opportunity to capture market-rate income through unit turnover. This two-story triplex offers private garages, on-site parking, and mature landscaping on a 6,500 SF lot. A rare opportunity to acquire a clean, all 2-bedroom triplex in one of Orange County's strongest rental submarkets.
Financial Summary (Actual - 2025) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$86,952
|
$31.22
|
| Other Income |
-
|
-
|
| Vacancy Loss |
$2,609
|
$0.94
|
| Effective Gross Income |
$84,343
|
$30.28
|
| Taxes |
$16,764
|
$6.02
|
| Operating Expenses |
$13,517
|
$4.85
|
| Total Expenses |
$30,281
|
$10.87
|
| Net Operating Income |
$54,062
|
$19.41
|
Financial Summary (Actual - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $86,952 |
| Annual Per SF | $31.22 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | $2,609 |
| Annual Per SF | $0.94 |
| Effective Gross Income | |
|---|---|
| Annual | $84,343 |
| Annual Per SF | $30.28 |
| Taxes | |
|---|---|
| Annual | $16,764 |
| Annual Per SF | $6.02 |
| Operating Expenses | |
|---|---|
| Annual | $13,517 |
| Annual Per SF | $4.85 |
| Total Expenses | |
|---|---|
| Annual | $30,281 |
| Annual Per SF | $10.87 |
| Net Operating Income | |
|---|---|
| Annual | $54,062 |
| Annual Per SF | $19.41 |
Property Facts
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 2 | $2,373 | 825 |
| 2+1.5 | 1 | $2,500 | 1,100 |
1 1
Moderately walkable
60/100
Exceptionally drivable
90/100
Limited public transit
30/100
Moderately bikeable
60/100
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1383 Baker St - Baker St. Apartments
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