145 E 18th St
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145 E 18th St
19 Unit Apartment Building $8,950,000 ($471,053/Unit) 4.34% Cap Rate Costa Mesa, CA 92627
INVESTMENT HIGHLIGHTS
- Currently, the Largest Apartment Listing in Eastside Costa Mesa, Located on Large ±29,967 SF Lot
- 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
- 4.34% Current Cap Rate - Currently the Highest Cap Rate Offered in Eastside Costa Mesa
- 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 | $8,950,000 | Apartment Style | Low Rise |
| Price Per Unit | $471,053 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.69 AC |
| Cap Rate | 4.34% | Building Size | 15,325 SF |
| Gross Rent Multiplier | 14.91 | No. Stories | 2 |
| No. Units | 19 | Year Built | 1959 |
| Property Type | Multifamily | Parking Ratio | 1.89/1,000 SF |
| Property Subtype | Apartment |
| Price | $8,950,000 |
| Price Per Unit | $471,053 |
| Sale Type | Investment |
| Cap Rate | 4.34% |
| Gross Rent Multiplier | 14.91 |
| 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 AMENITIES
- Air Conditioning
- Balcony
- Fireplace
- Kitchen
- Granite Countertops
- Hardwood Floors
- Walk-In Closets
- Yard
- Patio
- Floor to Ceiling Windows
SITE AMENITIES
- Laundry Facilities
- Pool
- Security System
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| Studios | 1 | $2,125 | 500 |
| 1+1 | 7 | $2,088 | 550 - 675 |
| 2+1 | 4 | $2,525 | 775 - 850 |
| 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 | $874,915 |
| Land Assessment | $6,999,335 | Total Assessment | $7,874,250 |
PROPERTY TAXES
Parcel Number
425-443-11
Land Assessment
$6,999,335
Improvements Assessment
$874,915
Total Assessment
$7,874,250
ZONING
| Zoning Code | R2-MD (Multiple Family Residential - Medium Density) |
| R2-MD (Multiple Family Residential - Medium Density) |
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145 E 18th St
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