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2383 Orange Ave 7 Unit Apartment Building $4,500,000 ($642,857/Unit) 3.54% Cap Rate Costa Mesa, CA 92627
Investment Highlights
- (7) Single-Story Cottages in Eastside Costa Mesa
- Value-Add Opportunity
- Recent Capital Improvements
- All Two-Bedroom Units (Spacious Floorplans Avg. 899 SF)
- First Time on Market in Over 20 Years
- Desirable Eastside Costa Mesa Location
Executive Summary
Rare Eastside Costa Mesa opportunity featuring 100% single-story, two-bedroom cottage units with no shared living walls for exceptional privacy. First time on the market in over 20 years, this well-maintained 7-unit property offers strong value-add potential with rents approximately 31% below market. Recent improvements include new roofs on all buildings. Prime location near top dining, retail, and just minutes from Newport Beach.
Property Facts Under Contract
| Price | $4,500,000 | Apartment Style | Garden |
| Price Per Unit | $642,857 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.44 AC |
| Cap Rate | 3.54% | Building Size | 6,292 SF |
| Gross Rent Multiplier | 18.39 | No. Stories | 1 |
| No. Units | 7 | Year Built | 1946 |
| Property Type | Multifamily | Parking Ratio | 2.07/1,000 SF |
| Property Subtype | Apartment | ||
| Zoning | R2 | ||
| Price | $4,500,000 |
| Price Per Unit | $642,857 |
| Sale Type | Investment |
| Cap Rate | 3.54% |
| Gross Rent Multiplier | 18.39 |
| No. Units | 7 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 0.44 AC |
| Building Size | 6,292 SF |
| No. Stories | 1 |
| Year Built | 1946 |
| Parking Ratio | 2.07/1,000 SF |
| Zoning | R2 |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 7 | $3,038 | 897 - 910 |
1 1
Walk Score®
Very Walkable (71)
Property Taxes
| Parcel Number | 439-262-20 | Improvements Assessment | $487,934 |
| Land Assessment | $1,805,052 | Total Assessment | $2,292,986 |
Property Taxes
Parcel Number
439-262-20
Land Assessment
$1,805,052
Improvements Assessment
$487,934
Total Assessment
$2,292,986
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2383 Orange Ave
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