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2048 Garden Ln 3 Unit Apartment Building Offered at $2,995,000 Costa Mesa, CA 92627
Investment Highlights
- Interiors renovated in 2015
- Each unit has washer/dryer hook-ups in garages
- Individually metered for gas and electricity
- Private outdoor space for each unit
Executive Summary
We are pleased to present the sale of 2048 Garden Lane, a well-maintained three-unit multifamily property ideally situated in the highly desirable Eastside Costa Mesa neighborhood. The front unit is a detached single-family residence featuring three bedrooms, two bathrooms, a spacious private backyard, and an attached two-car garage. The rear duplex consists of two 2-bedroom, 1-bathroom units, each offering private yard or patio space and its own single-car garage. All three units were extensively remodeled circa 2015 and showcase modern upgrades throughout, including dual-pane windows, recessed lighting, laminate flooring, quartz countertops, stainless steel appliances, white shaker cabinetry, and custom-tiled showers. Each unit is separately metered for gas and electricity and includes laundry hookups in the garage. This rare investment opportunity is located in one of Orange County’s most sought-after neighborhoods, offering close proximity to parks, beaches, top-rated schools, and the vibrant dining, shopping, and lifestyle amenities along 17th Street.
Financial Summary (Actual - 2025) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$137,040
|
$40.85
|
| Other Income |
-
|
-
|
| Vacancy Loss |
$4,111
|
$1.23
|
| Effective Gross Income |
$132,929
|
$39.62
|
| Taxes |
-
|
-
|
| Operating Expenses |
$41,348
|
$12.32
|
| Total Expenses |
$41,348
|
$12.32
|
| Net Operating Income |
-
|
-
|
Financial Summary (Actual - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $137,040 |
| Annual Per SF | $40.85 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | $4,111 |
| Annual Per SF | $1.23 |
| Effective Gross Income | |
|---|---|
| Annual | $132,929 |
| Annual Per SF | $39.62 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | $41,348 |
| Annual Per SF | $12.32 |
| Total Expenses | |
|---|---|
| Annual | $41,348 |
| Annual Per SF | $12.32 |
| Net Operating Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
Property Facts
| Price | $2,995,000 | Property Type | Multifamily |
| Price Per Unit | $998,333 | Building Size | 3,355 SF |
| Sale Type | Investment | No. Stories | 2 |
| No. Units | 3 | Year Built/Renovated | 1969/2015 |
| Price | $2,995,000 |
| Price Per Unit | $998,333 |
| Sale Type | Investment |
| No. Units | 3 |
| Property Type | Multifamily |
| Building Size | 3,355 SF |
| No. Stories | 2 |
| Year Built/Renovated | 1969/2015 |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 3+2 | 1 | $4,400 | 1,397 |
| 2+1 | 1 | $3,325 | 979 |
| 2+1 | 1 | $3,695 | 979 |
1 1
Moderately walkable
60/100
Very drivable
80/100
Minimal public transit
10/100
Moderately bikeable
70/100
Property Taxes
| Parcel Number | 426-232-12 | Improvements Assessment | $190,578 |
| Land Assessment | $1,928,905 | Total Assessment | $2,119,483 |
Property Taxes
Parcel Number
426-232-12
Land Assessment
$1,928,905
Improvements Assessment
$190,578
Total Assessment
$2,119,483
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2048 Garden Ln
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