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3040 Filmore Way 6 Unit Apartment Building $3,295,000 ($549,167/Unit) 5.24% Cap Rate Costa Mesa, CA 92626
INVESTMENT HIGHLIGHTS
- Over 1100 SF Remodeled 2BD Townhomes with Washer/Dryers, Central AC, and Large Private Patios
- Excellent Costa Mesa Location Near South Coast Plaza and Orange Coast College
- Turn-Key Asset with Over $300k in Recent Upgrades Including New Electrical System
- Over 5% Cap Rate on Current Income
EXECUTIVE SUMMARY
We are pleased to present a turn key 6-unit asset located in the heart of Costa Mesa. This property consists of six fully renovated, townhome-style units - each spanning over 1100 sq. ft, and upgraded to deliver a high-end living experience. The property features significant interior and exterior improvements, including in-unit washer/dryers, stainless steel appliances, central A/C, and spacious private patios — all of which contribute to a condo-quality environment that attracts and retains quality tenants. Over a 5% cap rate on current rents, this asset offers investors the opportunity to generate strong, passive income with minimal operational burden, while benefiting from premium amenities and long-term stability in a sought-after Orange County submarket.
PROPERTY FACTS
| Price | $3,295,000 | Apartment Style | Townhome |
| Price Per Unit | $549,167 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.26 AC |
| Cap Rate | 5.24% | Building Size | 6,894 SF |
| Gross Rent Multiplier | 13.68 | Average Occupancy | 100% |
| No. Units | 6 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1963 |
| Property Subtype | Apartment | Parking Ratio | 1.45/1,000 SF |
| Price | $3,295,000 |
| Price Per Unit | $549,167 |
| Sale Type | Investment |
| Cap Rate | 5.24% |
| Gross Rent Multiplier | 13.68 |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Townhome |
| Building Class | C |
| Lot Size | 0.26 AC |
| Building Size | 6,894 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1963 |
| Parking Ratio | 1.45/1,000 SF |
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 2+1.5 | 6 | $3,295 | 1,145 |
Walk Score®
Very Walkable (85)
PROPERTY TAXES
| Parcel Number | 141-134-23 | Improvements Assessment | $299,198 |
| Land Assessment | $2,607,802 | Total Assessment | $2,907,000 |
PROPERTY TAXES
Parcel Number
141-134-23
Land Assessment
$2,607,802
Improvements Assessment
$299,198
Total Assessment
$2,907,000
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3040 Filmore Way
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