145 E 18th St
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145 E 18th St
19 Unit Apartment Building $9,750,000 ($513,158/Unit) 3.89% Cap Rate Costa Mesa, CA 92627
Investment Highlights
- Rare Offering - Currently, the Largest Apartment Listing in Eastside Costa Mesa
- Recent Exterior & Interior Renovations Includes All Subpanels Upgraded, Majority Units Re-Piped, New Windows, Rear Sliders & Front Doors,
- Value-Add Opportunity - Current Rates are 15% Below Market
- Located on Large ±29,967 SF Lot
- All Roofs Resurfaced, Updated Railings, and 15 of 19 Units Have Been Renovated
- Excellent Unit Mix of Studio, One- & Two-Bedroom Floor Plans, Select Units Have Private Yard/Balcony
Executive Summary
Located in Eastside Costa Mesa, 145 E. 18th Street is a 19-unit multifamily investment opportunity. The value-add property has an excellent unit mix of studio, one- and two-bedroom floorplans and community features include keyless entry, community pool, well-parked and BBQ & laundry facilities. Both the interior and exterior of the property have recently undergone extensive renovations including all subpanels upgraded, security camera system installed, re-piped hot and cold water system, all railings have been updated to current code and 15 of 19 units have been renovated.
Property Facts
| Price | $9,750,000 | Apartment Style | Low Rise |
| Price Per Unit | $513,158 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.69 AC |
| Cap Rate | 3.89% | Building Size | 15,325 SF |
| Gross Rent Multiplier | 16.29 | No. Stories | 2 |
| No. Units | 19 | Year Built | 1959 |
| Property Type | Multifamily | Parking Ratio | 1.89/1,000 SF |
| Property Subtype | Apartment |
| Price | $9,750,000 |
| Price Per Unit | $513,158 |
| Sale Type | Investment |
| Cap Rate | 3.89% |
| Gross Rent Multiplier | 16.29 |
| No. Units | 19 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.69 AC |
| Building Size | 15,325 SF |
| No. Stories | 2 |
| Year Built | 1959 |
| Parking Ratio | 1.89/1,000 SF |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 1 | $2,125 | 500 |
| 1+1 | 7 | $2,000 | 550 - 2,750 |
| 2+1 | 4 | $2,538 | 775 - 2,550 |
| 2+1.5 | 7 | $3,088 | 1,057 |
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Walk Score ®
Walker's Paradise (93)
Bike Score ®
Very Bikeable (75)
PROPERTY TAXES
| Parcel Number | 425-443-11 | Improvements Assessment | $857,760 |
| Land Assessment | $6,862,093 | Total Assessment | $7,719,853 |
PROPERTY TAXES
Parcel Number
425-443-11
Land Assessment
$6,862,093
Improvements Assessment
$857,760
Total Assessment
$7,719,853
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145 E 18th St
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