741 18Th St, Costa Mesa, CA 92627

4 Unit Apartment Building | $1,600,000 ($400,000/Unit) | 3.03% Cap Rate | Costa Mesa, CA 92627

Date Added:
May 17, 2024
Days on Market:
28 days

Asking Price $1,600,000

Property Type
Multifamily
Square Feet
2,512 SF

Listing Contacts

Justin Nguyen
Justin Nguyen
Verified Profile
Michael Alper
Michael Alper
Verified Profile
Chris White
Chris White
Verified Profile
  • Property Info

Property Overview

Exclusive Coastal Investment Opportunity – First Time on the Market Since 1996!
Unlock the potential of coastal living with this exciting opportunity by the beach! Coastal apartments have consistently demonstrated exceptional appreciation, robust rental growth, and attract high-quality tenants, making them a cornerstone of any successful real estate portfolio. Just a short stroll from Newport Beach, 741 W 18th Street is nestled less than half a mile from Newport Blvd, offering the best of both worlds with easy beach access and close proximity to vibrant city amenities.
The property features an attractive mix of one- and two-bedroom units. Units A and B offer the luxury of private yard access, perfect for outdoor enthusiasts, while Units C and D come with private deck entries, providing a serene space for relaxation. The property benefits from tuck-under parking at the rear of the building and a spacious shared driveway ensuring ample parking spaces for both residents and guests. All tenants are on month-to-month leases, affording the buyer maximum flexibility when operating the property. Investing in fixtures and aesthetics will provide significant upside potential in rental income, making this property an excellent value-add opportunity.
Take advantage of residential financing options to secure this property, making it accessible for first-time investors or those looking to expand their portfolios. This is a rare chance to acquire a sought-after property that has not been available since 1996. Don’t miss out on this exceptional investment opportunity in a prime coastal location!

Property Details

Year Built
1960
Stories
1
Lot Size (sq. ft)
6,098 SF
Units
4

Highlights

  • Significant upside potential in rental income
  • Competitive rental submarket
  • Less than half mile to Triangle Square and Costa Mesa Courtyards
  • 1.3 miles north of PCH
  • Private yards and decks

FAQ

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?
Please email our support team at [email protected] and they will add the team member.
How do I access a private listing?
Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.
How can I contact the broker
We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
What is the difference between Tier 1 & Tier 2 in the Due Diligence Vault?
Documents that are placed in a Tier-1 Due Diligence vault require the execution of a Confidentiality Agreement (“CA”) for access. Documents and folders placed in the Tier-2 vault are intended to have an added layer of security and require the execution of a CA in addition to required Broker approval for access.
How do I unsubscribe from emails?
At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].