263 16th Pl
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263 16th Pl
4 Unit Apartment Building $2,395,000 ($598,750/Unit) Costa Mesa, CA 92627
Investment Highlights
- Prime Eastside Location, Near E. 17th Street & Newport Heights
- On-Site Laundry
- All Spacious 2BR/1BA Units
Executive Summary
Discover a prime investment opportunity with this added-value, four-unit property in one of Costa Mesa’s most desirable locations. Situated just steps from E. 17th Street, Newport Heights, and within reach of several top-ranked public schools in Orange County, this property is ideally positioned for convenience and long-term value. Each of the four spacious 2-bedroom, 1-bathroom units offers approximately 943 square feet of living space, complete with a single-car garage and additional off-street parking, ensuring both tenant comfort and ample parking solutions. Residents will enjoy the convenience of an onsite laundry facility, as well as a communal courtyard perfect for relaxation and social gatherings. This property represents a fantastic opportunity for investors looking to capitalize on the high demand in a premier Costa Mesa
location.
location.
Financial Summary (Pro forma - 2024) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$145,200
|
$38.51
|
| Other Income |
-
|
-
|
| Vacancy Loss |
$4,356
|
$1.16
|
| Effective Gross Income |
$140,844
|
$37.36
|
| Taxes |
$28,380
|
$7.53
|
| Operating Expenses |
$16,364
|
$4.34
|
| Total Expenses |
$44,744
|
$11.87
|
| Net Operating Income |
$96,100
|
$25.49
|
Financial Summary (Pro forma - 2024)
| Gross Rental Income | |
|---|---|
| Annual | $145,200 |
| Annual Per SF | $38.51 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | $4,356 |
| Annual Per SF | $1.16 |
| Effective Gross Income | |
|---|---|
| Annual | $140,844 |
| Annual Per SF | $37.36 |
| Taxes | |
|---|---|
| Annual | $28,380 |
| Annual Per SF | $7.53 |
| Operating Expenses | |
|---|---|
| Annual | $16,364 |
| Annual Per SF | $4.34 |
| Total Expenses | |
|---|---|
| Annual | $44,744 |
| Annual Per SF | $11.87 |
| Net Operating Income | |
|---|---|
| Annual | $96,100 |
| Annual Per SF | $25.49 |
Property Facts Under Contract
| Price | $2,395,000 | Building Class | C |
| Price Per Unit | $598,750 | Lot Size | 0.16 AC |
| Sale Type | Investment | Building Size | 3,770 SF |
| No. Units | 4 | Average Occupancy | 100% |
| Property Type | Multifamily | No. Stories | 2 |
| Property Subtype | Apartment | Year Built | 1959 |
| Apartment Style | Garden | Parking Ratio | 2.12/1,000 SF |
| Price | $2,395,000 |
| Price Per Unit | $598,750 |
| Sale Type | Investment |
| No. Units | 4 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 0.16 AC |
| Building Size | 3,770 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1959 |
| Parking Ratio | 2.12/1,000 SF |
Site Amenities
- Laundry Facilities
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 4 | $2,113 | - |
1 of 1
Walk Score ®
Walker's Paradise (91)
PROPERTY TAXES
| Parcel Number | 425-221-03 | Total Assessment | $110,032 (2023) |
| Land Assessment | $26,551 (2023) | Annual Taxes | $28,380 ($7.53/SF) |
| Improvements Assessment | $83,481 (2023) | Tax Year | 2024 |
PROPERTY TAXES
Parcel Number
425-221-03
Land Assessment
$26,551 (2023)
Improvements Assessment
$83,481 (2023)
Total Assessment
$110,032 (2023)
Annual Taxes
$28,380 ($7.53/SF)
Tax Year
2024
zoning
| Zoning Code | R2 (Residential) |
| R2 (Residential) |
-
Nick Gould -
Jonathon Nichols -
Gould Group Investment Real Estate
(949) 996-4785
x101
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263 16th Pl
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