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408 Ford Rd 3 Unit Apartment Building $1,895,000 ($631,667/Unit) 3.91% Cap Rate Costa Mesa, CA 92627
Investment Highlights
- All Single Story Units
- Large Private Patios/Yards
- Walking Distance to The Triangle and All Retail, Shopping and Entertainment along Newport Boulevard and 19th Street
- Large 2-Bedrooms
- Next Door to Brand New West Walk Condos
Executive Summary
Morgan Skenderian is pleased to present 408 Ford Road, a well-maintained single-story triplex located in Costa Mesa. This property is walking distance to The Triangle and all retail, shopping, and entertainment along Newport Boulevard and 19th Street. Much of the area has been redeveloped and tenant demand remains very strong due to the location and surrounding communities. The property itself consists of (1) two-bedroom/two-bath unit with an inviting, large front patio and (2) two-bedroom/one-bath units. Each unit features an outdoor space and storage area. There is also ample parking which includes a double car garage and 2 covered carport spaces plus street-parking. The new investor can quickly realize a strong return on investment through modernization of the property and increased rent levels.
Financial Summary (Actual - 2025) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$110,400
|
$29.04
|
| Other Income |
-
|
-
|
| Vacancy Loss |
$3,312
|
$0.87
|
| Effective Gross Income |
$107,088
|
$28.17
|
| Taxes |
$22,346
|
$5.88
|
| Operating Expenses |
$10,615
|
$2.79
|
| Total Expenses |
$32,961
|
$8.67
|
| Net Operating Income |
$74,127
|
$19.50
|
Financial Summary (Actual - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $110,400 |
| Annual Per SF | $29.04 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | $3,312 |
| Annual Per SF | $0.87 |
| Effective Gross Income | |
|---|---|
| Annual | $107,088 |
| Annual Per SF | $28.17 |
| Taxes | |
|---|---|
| Annual | $22,346 |
| Annual Per SF | $5.88 |
| Operating Expenses | |
|---|---|
| Annual | $10,615 |
| Annual Per SF | $2.79 |
| Total Expenses | |
|---|---|
| Annual | $32,961 |
| Annual Per SF | $8.67 |
| Net Operating Income | |
|---|---|
| Annual | $74,127 |
| Annual Per SF | $19.50 |
Property Facts
| Price | $1,895,000 | Apartment Style | Garden |
| Price Per Unit | $631,667 | Lot Size | 0.19 AC |
| Sale Type | Investment | Building Size | 3,802 SF |
| Cap Rate | 3.91% | Average Occupancy | 100% |
| Gross Rent Multiplier | 17.16 | No. Stories | 1 |
| No. Units | 3 | Year Built | 1961 |
| Property Type | Multifamily | Parking Ratio | 1.32/1,000 SF |
| Property Subtype | Apartment |
| Price | $1,895,000 |
| Price Per Unit | $631,667 |
| Sale Type | Investment |
| Cap Rate | 3.91% |
| Gross Rent Multiplier | 17.16 |
| No. Units | 3 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Lot Size | 0.19 AC |
| Building Size | 3,802 SF |
| Average Occupancy | 100% |
| No. Stories | 1 |
| Year Built | 1961 |
| Parking Ratio | 1.32/1,000 SF |
Amenities
Unit Amenities
- Dishwasher
- Patio
Site Amenities
- Laundry Facilities
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 2 | $2,670 | - |
| 3+2 | 1 | $3,860 | - |
1 1
Moderately walkable
60/100
Exceptionally drivable
90/100
Limited public transit
30/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 419-201-02 | Total Assessment | $1,763,478 |
| Land Assessment | $1,576,206 | Annual Taxes | $22,346 ($5.88/SF) |
| Improvements Assessment | $187,272 | Tax Year | 2025 |
Property Taxes
Parcel Number
419-201-02
Land Assessment
$1,576,206
Improvements Assessment
$187,272
Total Assessment
$1,763,478
Annual Taxes
$22,346 ($5.88/SF)
Tax Year
2025
Contacts
-
Rick Applebaum -
Jay Skenderian -
Paul Espinosa -
Morgan-Skenderian Investment Real Estate Group
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408 Ford Rd
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