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3025 Jeffrey Dr 3 Unit Apartment Building $1,899,000 ($633,000/Unit) 3.78% Cap Rate Costa Mesa, CA 92626
Investment Highlights
- One-, Two-, & Three-Bedroom Units
- Recent Capital Improvements Completed, New Electrical Panels, Windows, Flooring, Cabinetry, Countertops, Appliances, Bathrooms & Finishes Throughout
- Well Parked with (3) Private Garages & (2) Open Spaces
- Value-Add Asset - Current Rents are Below Market
- Each Unit has Private Outdoor Space or Balcony, Individual Washer & Dryer Hookups in Each Garage
Executive Summary
Situated in a well-established Costa Mesa pocket, this three-unit property offers a versatile mix of one-, two-, and three-bedroom floorplans with spacious layouts. Each unit has a private balcony or outdoor space and individual washer/dryer hookups. Private garages plus open parking keep the property well served. Recent capital improvements completed. Current rents are below market, with meaningful room to grow as leases turn.
Property Facts
| Price | $1,899,000 | Property Subtype | Apartment |
| Price Per Unit | $633,000 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.14 AC |
| Cap Rate | 3.78% | Building Size | 2,885 SF |
| Gross Rent Multiplier | 17.78 | No. Stories | 2 |
| No. Units | 3 | Year Built | 1977 |
| Property Type | Multifamily | Parking Ratio | 1.73/1,000 SF |
| Zoning | R3 - Multiple Family Residential | ||
| Price | $1,899,000 |
| Price Per Unit | $633,000 |
| Sale Type | Investment |
| Cap Rate | 3.78% |
| Gross Rent Multiplier | 17.78 |
| No. Units | 3 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Building Class | C |
| Lot Size | 0.14 AC |
| Building Size | 2,885 SF |
| No. Stories | 2 |
| Year Built | 1977 |
| Parking Ratio | 1.73/1,000 SF |
| Zoning | R3 - Multiple Family Residential |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 1 | $2,450 | 750 |
| 2+1 | 1 | $2,950 | 950 |
| 3+2 | 1 | $3,500 | 1,185 |
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Fairly walkable
50/100
Exceptionally drivable
100/100
Limited public transit
30/100
Fairly bikeable
50/100
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