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291-293 Avocado St
Costa Mesa, CA 92627 Westside Costa Mesa

$9,595,000 USD

Apartments For Sale  •  18,012 SF

Property Details

  • Property Type Apartments
  • Total Building Size 18,012 SF
  • Lot Size 0.85 AC
  • Building Class C
  • Year Built 1965
  • Cap Rate 4.66 %
30 Transit Score
60 Walk Score

Highlights

24-unit multifamily property on two contiguous parcels in Westside Costa Mesa
19 of 24 units renovated with modern interior finishes
45 parking spaces (approximately 1.9 per unit) including garage, carport, and surface parking
Stable in-place income with rents currently near market levels
Recent capital improvements including newer roof, copper plumbing, and upgraded electrical subpanels
ADU potential across two legal parcels allowing for expanded development flexibility (subject to city approval)

Financial Summary (Actual)

Net Operating Income: $447,442 USD (2026)
Cap Rate: 4.66 %
Total Expenses: $270,029 USD

Amenities

  • Controlled Access
  • Courtyard
  • Laundry Facilities
  • Gated
  • Heating
  • Kitchen
  • Lawn

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 - 8.9 mi
AirportDriveWalkDistance
John Wayne/Orange County 7 min - 3.7 mi
Long Beach (Daugherty Field) 28 min - 21.5 mi

Parking Details

Parking Available: Yes
Reserved: No
Spaces Provided: 21
Type: Surface
Included in Rent: Yes
Tyler Leeson 714-713-9086 Marcus & Millichap
Tyler Leeson 714-713-9086 Marcus & Millichap