Listed by Morgan Skenderian Investment Real Estate Group
$1,895,000
408 Ford Road
Details
APN 41920102
Property Type Multifamily
Sub Type Apartment Building
Square Footage 3,802
Net Rentable (SqFt) 3,802
Units 3
Beds 2
Cap Rate 3.91%
NOI $74,127
Occupancy 100%
Tenancy Multi
Pro-Forma Cap Rate 4.52%
Pro-Forma NOI $85,592
Price per SqFt $498
Year Built 1961
Buildings 1
Stories 1
Acreage 0.187
Zoning Public Rec
Parking Spaces 5 spaces
Parking Per SqFt 1.32
Investment Type Value Add
Multifamily | 3 Units | $631,667/unit
Marketing description
Pleased to present 408 Ford Road, a well-maintained single-story triplex located in Costa Mesa. This property is walking distance to The Triangle and all retail, shopping, and entertainment along Newport Boulevard and 19th Street. Much of the area has been redeveloped and tenant demand remains very strong due to the location and surrounding communities. The property itself consists of (1) two-bedroom/two-bath unit with an inviting, large front patio and (2) two-bedroom/one-bath units. Each unit features an outdoor space and storage area. There is also ample parking which includes a double car garage and 2 covered carport spaces plus street-parking. The new investor can quickly realize a strong return on investment through modernization of the property and increased rent levels.
Investment highlights
- All Single-Story Units
- Large 2-Bedrooms
- Large Private Patios/Yards
- Next Door to Brand New West Walk Condos
- Walking Distance to The Triangle and all Retail, Shopping and Entertainment along Newport Boulevard and 19th Street
Listing Contacts
Listed by Morgan Skenderian Investment Real Estate Group
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$74,127.00
$6,177.25/mo
Valuation Metrics
0
DSCR
3.91%
Cap Rate
3.91%
ROI
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