8 Units in Costa Mesa

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Created date: September 15, 2023
Date last updated: December 4, 2023
  • Trophy Costa Mesa Turnkey Asset!
  •  25% – 2023 Construction
  • 75% – 1978 Construction
  • Unit Mix:
    (2) – 3Bed / 2Bath,  (4) – 2Bed / 2Bath, (1) – 2Bed / 2Bath (Built 2023),  (1) – 1Bed / 1Bath (Built 2023)
  •  Ample Carports and Assigned Open Parking
  • Patios and Balconies
  • All but Unit B and H includes Washer/Dryer Hookups
  • Unit A comes with Solar and an EV Charge Outlet, plus a separate Kilowatt-hour Meter
  • Both ADUs meet the latest Title 24 Requirements

Property Description

The Hamilton is a Trophy 8 Unit Apartment complex located in the heart of Costa Mesa, on a 20,012 Sq. Ft. Lot!  This asset consists of:  (2) 3Bed / 2Bath, (4) 2Bed / 2Bath, (1) 2Bed / 2Bath House (Built 2023), and (1) 1Bed / 1Bath House (Built 2023).  Amenities include; Large Upgraded or New Units, Ample Parking (Carport and Open), Washer / Dryer Hookups, a Solar EV Charge Outlet and Spacious Patios & Balconies throughout.  The buildings also benefit from newer construction (75% built in 1978, & 25% built in 2023), as well as its prime location; less than 1 mile from Triangle Square, and 2 Miles to the Sand!  Additionally, the current owner has spent over $900,000+ in the past 4 Years converting this unique asset into a Turn-Key / low maintenance property.  Please drive by only, and do not disturb the tenants.

Key Property Information

Listing Status: Sold
Multifamily type: Apartments
Price: $4,700,000
No. of Units: 8
Cap Rate: 4.06%
GRM /GIM: 17.88
Average Occupancy: 100
Year Built: 1978
Year Renovated: 2021
Building Size: 7,429 Sq ft
Lot Size: 20,012.00 Sq ft
No. of Stories: 2
APN: 422-211-20
Buy Side Fee: -2%
Opportunity Zone: No
Price per unit: $587,500

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