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384 E 16th St 5 Unit Apartment Building Offered at $3,450,000 at a 3.55% Cap Rate Costa Mesa, CA 92627
Investment Highlights
- (5) Bungalow-Style Units, Single-Story Construction
- Spacious Two- & Three-Bedroom Floorplans (Avg. 1,002 SF)
- Each Unit Has In-Unit Washer & Dryer Hookups and Private Patio or Yard, Well Parked with (6) Garages & (5) Open Spaces
- (3) Detached Single-Family Homes & (1) Single-Story Duplex
- Recent Capital Improvements Include Garage Door & Subpanel Replacements, Select Unit Renovations, and Carpet Updates in Select Bedrooms
- Desirable Eastside Costa Mesa Location (Walk Score: 89) - Tustin Ave. & Santa Ana Ave., Close to 17th Street Promenade, Triangle Square & Near Beach
Executive Summary
Tucked into one of Costa Mesa's most walkable neighborhoods, this rare single-story multifamily offering features five bungalow-style units - three detached homes and a duplex. Spacious two- and three-bedroom floorplans average 1,002 SF, each with a private patio/yard and in-unit washer/dryer. The property is well-parked with six garages and open space parking. Recent upgrades completed. Walk to the 17th Street Promenade, minutes to the beach.
Property Facts
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 2 | $3,110 | 762 |
| 2+1 | 2 | $3,125 | 1,026 |
| 3+2 | 1 | $3,095 | 1,433 |
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Moderately walkable
70/100
Moderately drivable
70/100
Limited public transit
20/100
Moderately bikeable
60/100
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