178 E 18th St
Costa Mesa, CA 92627
18th Street Fourplex · Multifamily Property For Sale · 4 Units

Well located, value-add opportunity of four units in the desirable Eastside Costa Mesa apartment submarket. This is the first time this property has ever been on the market and is being offered for sale by the original ownership/developer family. The property has an excellent unit mix of four (4) approximately 850 sq. ft. 2-bedroom, 1-bathroom units. The owner keeps one unit vacant for their personal use which will be delivered vacant; it has proforma market rent. This unit interior has crown molding, raised panel doors, two-tone paint, upgraded door casings, new baseboards, new custom kitchen cabinets, recessed lighting, 16-inch tile flooring in the kitchen, mirrored wardrobe closet doors, scraped ceilings, dishwasher, and a custom tiled shower/ tub enclosure. There are nice floor-to-ceiling built-ins in the living rooms. One unit has wide plank tile flooring throughout, while others have a combination of vinyl, simulated hardwood, and carpet. Bathrooms have tile or vinyl flooring. Each unit has linen closet space in the hall and each has panel ray heat with vents to the living room and in the hall to heat each bedroom. Some units have scraped ceilings. Each unit has a kitchen dining nook. All unit interiors are light and bright. There are four detached single garages accessed from the alleyway in the rear of the property. There are several additional off-street parking spaces behind the building and in between the detached garage structure. There is one strapped central hot water heater servicing the four residential units and the laundry room. There are (5) gas meters and (5) electric meters as tenants pay their own gas and electric usage. There is a pitched composition roof system on the main structure and the garage building. All the asphalt in the motor court was recently replaced and many of the building’s windows have also been changed out to vinyl-style windows. There is a great opportunity to privatize and activate the lower units’ front yards by hedging and gating the space to allow tenants the privacy and extra living area which can be utilized year-round. The building is located within walking distance to the 17th Street corridor, Triangle Square, and an easy drive to Newport Harbor, the Peninsula, and the coastal beaches from Corona Del Mar to Huntington Beach.