553-555 Victoria St
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553-555 Victoria St
13 Unit Apartment Building $8,950,000 ($688,462/Unit) 3.36% Cap Rate Costa Mesa, CA 92627
Investment Highlights
- First Time On Market in 47 Years
- Excellent Unit Mix of (8) 2B/1B Cottages & (5) 3B/2.5B Townhome Floor Plans, All Units Have Washer/Dryer Hook-Ups & Private Backyard Space
- Value-Add Opportunity, ADU Garage Conversion Opportunity
- (10) Buildings Located on a Large ±34,848 SF (±1 AC) Lot
- Located in an Opportunity Zone
- Capital Improvements Include 50-Year Roofs & Walls, Copper Plumbing Installed & New Concrete
Executive Summary
Located in an opportunity zone, Victoria Street sits on almost an acre of land in Costa Mesa. Comprised of (8) well-designed two-bedroom cottages and (5) three-bedroom townhomes that were built in 1991.
Property Facts
| Price | $8,950,000 | Apartment Style | Garden |
| Price Per Unit | $688,462 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.80 AC |
| Cap Rate | 3.36% | Building Size | 13,712 SF |
| Gross Rent Multiplier | 19.21 | No. Stories | 2 |
| No. Units | 13 | Year Built/Renovated | 1962/1991 |
| Property Type | Multifamily | Parking Ratio | 0.79/1,000 SF |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Price | $8,950,000 |
| Price Per Unit | $688,462 |
| Sale Type | Investment |
| Cap Rate | 3.36% |
| Gross Rent Multiplier | 19.21 |
| No. Units | 13 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 0.80 AC |
| Building Size | 13,712 SF |
| No. Stories | 2 |
| Year Built/Renovated | 1962/1991 |
| Parking Ratio | 0.79/1,000 SF |
| Opportunity Zone |
Yes |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 8 | $2,870 | 864 |
| 3+2.5 | 5 | $3,440 | 1,360 |
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Walk Score ®
Very Walkable (78)
Bike Score ®
Very Bikeable (78)
PROPERTY TAXES
| Parcel Number | 422-021-06 | Improvements Assessment | $1,025,927 |
| Land Assessment | $122,606 | Total Assessment | $1,148,533 |
PROPERTY TAXES
Parcel Number
422-021-06
Land Assessment
$122,606
Improvements Assessment
$1,025,927
Total Assessment
$1,148,533
zoning
| Zoning Code | R2-MD (Multiple Family Residential, Medium Density) |
| R2-MD (Multiple Family Residential, Medium Density) |
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553-555 Victoria St
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