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181 Cecil Pl 2 Unit Apartment Building $2,350,000 ($1,175,000/Unit) 2.38% Cap Rate Costa Mesa, CA 92627
Investment Highlights
- 1991 Construction
- All 3B/2.5B Units (Approx. 1,633 SF Each)
- Upside Potential - Current Rents are Below Market
- (2) Townhome-Style Units
- Each Unit Has Washer & Dryer Hookups, Private Patios and Direct-Access Two-Car Garage
Executive Summary
Built in 1991, this multifamily property delivers two spacious townhome-style units in one of Orange County's most desirable submarkets. Each three-bedroom unit includes a private patio, in-unit washer and dryer hookups, and a direct-access two-car garage. Current rents are below market, offering upside potential.
Property Facts
| Price | $2,350,000 | Property Subtype | Apartment |
| Price Per Unit | $1,175,000 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.16 AC |
| Cap Rate | 2.38% | Building Size | 3,266 SF |
| Gross Rent Multiplier | 24.34 | No. Stories | 2 |
| No. Units | 2 | Year Built | 1991 |
| Property Type | Multifamily | Parking Ratio | 2/1,000 SF |
| Zoning | R2-MD - Medium Family Residential | ||
| Price | $2,350,000 |
| Price Per Unit | $1,175,000 |
| Sale Type | Investment |
| Cap Rate | 2.38% |
| Gross Rent Multiplier | 24.34 |
| No. Units | 2 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Building Class | C |
| Lot Size | 0.16 AC |
| Building Size | 3,266 SF |
| No. Stories | 2 |
| Year Built | 1991 |
| Parking Ratio | 2/1,000 SF |
| Zoning | R2-MD - Medium Family Residential |
Amenities
Unit Amenities
- Washer/Dryer Hookup
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 3+2.5 | 1 | $3,940 | 1,633 |
| 3+2.5 | 1 | $3,970 | 1,633 |
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Moderately walkable
60/100
Exceptionally drivable
90/100
Limited public transit
30/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 426-062-10 | Improvements Assessment | $247,914 |
| Land Assessment | $1,638,127 | Total Assessment | $1,886,041 |
Property Taxes
Parcel Number
426-062-10
Land Assessment
$1,638,127
Improvements Assessment
$247,914
Total Assessment
$1,886,041
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