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2422 Santa Ana Ave
Costa Mesa, CA 92627 East Side Costa Mesa

$3,995,000 USD

Apartments For Sale  •  4,809 SF

Property Details

  • Property Type Apartments
  • Total Building Size 4,809 SF
  • Lot Size 0.39 AC
  • Building Class B
  • Year Built 1952
  • Cap Rate 4.50 %
  • Zoning Mulitfamily
32 Transit Score
53 Walk Score

Highlights

FIVE DETACHED HOMES – Unique bungalow-style units offer single family living within a multifamily investment structure.
FULLY RENOVATED IN 2025 – Turnkey asset with brand-new appliances, quartz/granite countertops, and modern finishes throughout.
LARGE LOT SIZE – Situated on a rare ±17,038 SF lot in the heart of Eastside Costa Mesa.
STRONG UNIT MIX – Includes four 3-bed/1-bath units and one 3-bed/2- bath unit with a large private yard; three units feature enclosed garages.
MARKET-RATE RENTS – Property is 100% occupied with stabilized, in place market rents for immediate income.
PRIME COASTAL LOCATION – Blocks from Newport Beach and walkable to Back Bay and top-rated schools.

Property Flyers

Financial Summary (Actual)

Net Operating Income: $179,652 USD (2024)
Cap Rate: 4.50 %
Total Expenses: $56,407 USD

Amenities

  • 24 Hour Access
  • Air Conditioning
  • Kitchen
  • Refrigerator
  • Oven
  • Tub/Shower
  • Freezer
  • Walk-Up
  • Smoke Detector

Public Transportation

Commuter RailDriveWalkDistance
Tustin (Inland Empire-Orange County Line - Southern California Regional Rail Authority (Metrolink), Orange County Line - Southern California Regional Rail Authority (Metrolink)) 13 min - 8.4 mi
Santa Ana (Inland Empire-Orange County Line - Southern California Regional Rail Authority (Metrolink), Orange County Line - Southern California Regional Rail Authority (Metrolink)) 15 min - 9.8 mi
AirportDriveWalkDistance
John Wayne/Orange County 6 min - 2.6 mi
Long Beach (Daugherty Field) 29 min - 22.9 mi

Parking Details

Parking Available: Yes
Reserved: No
Spaces Provided: 7
Type: Surface
Included in Rent: Yes
Mark Bridge 949-681-8388 The Bridge Multifamily Team at Matthews
Mark Bridge 949-681-8388 The Bridge Multifamily Team at Matthews