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5 Unit Costa Mesa Multifamily Undisclosed 5 Unit Apartment Building $3,000,000 ($600,000/Unit) 5.65% Cap Rate Costa Mesa, CA 92627
Investment Highlights
- Turn-key condition - two newly constructed 2024 ADUs plus three fully renovated 2023 units
- Mark-to-market upside on conversion to individual leases (market NOI $177,409)
- Six off-street parking spaces; gas and electric individually metered
- Master-leased at $19,000/month - stable, guaranteed in-place income
- Excellent unit mix - all 2- and 3-bedroom units with in-unit laundry and private yards/patios
- Prime Westside location - minutes from the beach, 17th Street retail, and Triangle Square
Executive Summary
Turn-key five-unit multifamily in Costa Mesa's desirable Westside - two newly constructed 2024 ADUs plus three fully renovated 2023 units with modern kitchens (stone counters, stainless appliances), in-unit laundry, and private yards/patios. Currently master-leased at $19,000/month ($228,000/yr) for stable, guaranteed in-place income at a 5.65% cap, with mark-to-market upside on conversion to individual leases (market NOI $177,409 vs $169,494 in-place; 5.91% market cap). Excellent mix of all 2- and 3-bedroom units (one 3BR/2BA, four 2BR/2BA), six off-street parking spaces, and gas/electric individually metered. Building 4,522 SF on an 8,786 SF lot. Prime Westside location minutes from the beach, 17th Street retail, and Triangle Square. Priced at $3,000,000 ($600,000/unit, $663/SF). Address withheld - contact broker.
Financial Summary (Actual - 2025) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2025) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $3,000,000 | Apartment Style | Low-Rise |
| Price Per Unit | $600,000 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.20 AC |
| Cap Rate | 5.65% | Building Size | 4,522 SF |
| Gross Rent Multiplier | 13.16 | Average Occupancy | 100% |
| No. Units | 5 | No. Stories | 2 |
| Property Type | Multifamily | Year Built/Renovated | 1977/2024 |
| Property Subtype | Apartment | Parking Ratio | 1.33/1,000 SF |
| Zoning | R2-MD - Multifamily Medium Density | ||
| Price | $3,000,000 |
| Price Per Unit | $600,000 |
| Sale Type | Investment |
| Cap Rate | 5.65% |
| Gross Rent Multiplier | 13.16 |
| No. Units | 5 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.20 AC |
| Building Size | 4,522 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built/Renovated | 1977/2024 |
| Parking Ratio | 1.33/1,000 SF |
| Zoning | R2-MD - Multifamily Medium Density |
Amenities
Unit Amenities
- Balcony
- Dishwasher
- Fireplace
- Washer/Dryer
- Stainless Steel Appliances
- Patio
Site Amenities
- 24 Hour Access
- Trash Pickup - Curbside
- Walking/Biking Trails
- Public Transportation
- Walk-Up
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+2 | 4 | $3,750 | - |
| 3+2 | 1 | $4,000 | - |
1 1
Moderately walkable
70/100
Exceptionally drivable
90/100
Limited public transit
30/100
Moderately bikeable
60/100
Property Taxes
| Parcel Numbers | Total Assessment | $2,864,497 | |
| Land Assessment | $2,344,588 | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $519,909 | Tax Year | 2025 |
Property Taxes
Parcel Numbers
Land Assessment
$2,344,588
Improvements Assessment
$519,909
Total Assessment
$2,864,497
Annual Taxes
($1) ($0.00/SF)
Tax Year
2025
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5 Unit Costa Mesa Multifamily | Undisclosed
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