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2214 Elden Ave 2 Unit Apartment Building $2,695,000 ($1,347,500/Unit) 2.59% Cap Rate Costa Mesa, CA 92627
INVESTMENT HIGHLIGHTS
- Built in 2018, featuring two spacious 3-bed/2-bath flats with modern layouts and quality finishes.
- Interiors offer 9-ft ceilings, vinyl flooring, recessed lighting, walk-in closets, and Nest thermostats.
- Prime Eastside Costa Mesa location with strong rental demand and community appeal.
- Upstairs unit 1,850 SF with balcony; downstairs 1,950 SF with private yard.
- Each unit includes a private garage + tandem parking for added convenience.
- Walking distance to Kaiser & Woodland Schools and near Orange Coast College.
EXECUTIVE SUMMARY
The Leeson Group of Marcus & Millichap is pleased to present 2214 Elden Avenue, a modern duplex situated in a highly desirable Eastside Costa Mesa location.
Built in 2018, the property features two expansive 3-bedroom/2-bathroom flats totaling approximately 3,807 square feet of living area. The upper unit measures approximately 1,850 square feet and includes a private balcony, while the lower unit measures approximately 1,950 square feet and features a private yard. Together they combine the comfort of single-family living with the convenience of a low-maintenance investment property.
Each residence is thoughtfully appointed with 9-foot ceilings, vinyl wood flooring, recessed lighting, modern ceiling fans, and in-unit washer/dryer hookups. Additional highlights include spacious walk-in closets with built-in shelving, contemporary bathroom finishes, and Google Nest thermostats. Each unit also benefits from a private garage with built-in storage and an additional tandem surface parking space, a highly desirable feature in this coastal neighborhood.
The property’s Eastside Costa Mesa location offers exceptional proximity to schools, amenities, and lifestyle destinations. Residents enjoy walking distance to Kaiser and Woodland Elementary Schools within the highly rated Newport-Mesa Unified School District, as well as convenient access to Orange Coast College. The property is just minutes from Harbor Boulevard and 17th Street, providing quick access to shopping, dining, and entertainment at Triangle Square. Nearby State Route 55 connects residents throughout the greater Orange County region.
Combining modern construction, strong tenant appeal, and a premier Eastside address, 2214 Elden Avenue represents a rare turnkey opportunity for investors seeking durable cash flow and long-term appreciation potential in one of Orange County’s most desirable rental markets.
*Drive by only. Do not walk the property or disturb the residents. Please contact the Listing Agent(s).*
Built in 2018, the property features two expansive 3-bedroom/2-bathroom flats totaling approximately 3,807 square feet of living area. The upper unit measures approximately 1,850 square feet and includes a private balcony, while the lower unit measures approximately 1,950 square feet and features a private yard. Together they combine the comfort of single-family living with the convenience of a low-maintenance investment property.
Each residence is thoughtfully appointed with 9-foot ceilings, vinyl wood flooring, recessed lighting, modern ceiling fans, and in-unit washer/dryer hookups. Additional highlights include spacious walk-in closets with built-in shelving, contemporary bathroom finishes, and Google Nest thermostats. Each unit also benefits from a private garage with built-in storage and an additional tandem surface parking space, a highly desirable feature in this coastal neighborhood.
The property’s Eastside Costa Mesa location offers exceptional proximity to schools, amenities, and lifestyle destinations. Residents enjoy walking distance to Kaiser and Woodland Elementary Schools within the highly rated Newport-Mesa Unified School District, as well as convenient access to Orange Coast College. The property is just minutes from Harbor Boulevard and 17th Street, providing quick access to shopping, dining, and entertainment at Triangle Square. Nearby State Route 55 connects residents throughout the greater Orange County region.
Combining modern construction, strong tenant appeal, and a premier Eastside address, 2214 Elden Avenue represents a rare turnkey opportunity for investors seeking durable cash flow and long-term appreciation potential in one of Orange County’s most desirable rental markets.
*Drive by only. Do not walk the property or disturb the residents. Please contact the Listing Agent(s).*
FINANCIAL SUMMARY (ACTUAL - 2025) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$117,600
|
$30.89
|
| Other Income |
-
|
-
|
| Vacancy Loss |
$3,528
|
$0.93
|
| Effective Gross Income |
$114,072
|
$29.96
|
| Taxes |
$28,236
|
$7.42
|
| Operating Expenses |
$15,999
|
$4.20
|
| Total Expenses |
$44,235
|
$11.62
|
| Net Operating Income |
$69,837
|
$18.34
|
FINANCIAL SUMMARY (ACTUAL - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $117,600 |
| Annual Per SF | $30.89 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | $3,528 |
| Annual Per SF | $0.93 |
| Effective Gross Income | |
|---|---|
| Annual | $114,072 |
| Annual Per SF | $29.96 |
| Taxes | |
|---|---|
| Annual | $28,236 |
| Annual Per SF | $7.42 |
| Operating Expenses | |
|---|---|
| Annual | $15,999 |
| Annual Per SF | $4.20 |
| Total Expenses | |
|---|---|
| Annual | $44,235 |
| Annual Per SF | $11.62 |
| Net Operating Income | |
|---|---|
| Annual | $69,837 |
| Annual Per SF | $18.34 |
PROPERTY FACTS
| Price | $2,695,000 | Apartment Style | Low-Rise |
| Price Per Unit | $1,347,500 | Building Class | B |
| Sale Type | Investment | Lot Size | 0.12 AC |
| Cap Rate | 2.59% | Building Size | 3,807 SF |
| Gross Rent Multiplier | 22.92 | No. Stories | 2 |
| No. Units | 2 | Year Built | 2018 |
| Property Type | Multifamily | Parking Ratio | 1.05/1,000 SF |
| Property Subtype | Apartment |
| Price | $2,695,000 |
| Price Per Unit | $1,347,500 |
| Sale Type | Investment |
| Cap Rate | 2.59% |
| Gross Rent Multiplier | 22.92 |
| No. Units | 2 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | B |
| Lot Size | 0.12 AC |
| Building Size | 3,807 SF |
| No. Stories | 2 |
| Year Built | 2018 |
| Parking Ratio | 1.05/1,000 SF |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Balcony
- Built-In Bookshelves
- Patio
- Porch
- Vinyl Flooring
- Quartz Countertops
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 3+2 | 2 | - | 3,807 |
1 1
Walk Score®
Very Walkable (77)
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2214 Elden Ave
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