Listed by CBRE - Orange County
$4,000,000
758 W. 20th St.
Details
APN 422-281-19
Property Type Multifamily
Sub Type Apartment Building
Square Footage 5,784
Units 7
Cap Rate 4.53%
NOI $181,375
Tenancy Single
Pro-Forma Cap Rate 4.58%
Pro-Forma NOI $183,121
Price per SqFt $692
Year Built 1972
Year Renovated 2026
Buildings 2
Stories 2
Lot Size (SqFt) 9,211
Parking Spaces 9 spaces
Parking Per SqFt 1.56
Multifamily | 7 Units | $571,429/unit
Marketing description
Download Offering Memorandum: https://multifamilysocal.com/listings/758w20thstreet/
Investment highlights
- New Construction & Renovated Asset - 758 W. 20th Street is a rare offering comprised of a newly constructed triplex (2026) and a renovated fourplex on a single 9,211 SF parcel in Westside Costa Mesa. The combination of brand-new construction and fully upgraded existing units delivers a turnkey property with no deferred maintenance and exceptional quality.
- Ideal Unit Mix - The property features 100% two-bedroom floorplans across all seven units. A configuration that consistently commands strong tenant demand and minimizes vacancy. The mix includes (4) 2B/1B, (2) 2B/2B, and (1) 2B/2.5B townhome, with an average unit size of approximately 826 SF and current rents ranging from $2,750 to $3,275 per month.
- Stabilized Asset - At $4,000,000, the property is offered at a 4.53% current cap rate with gross rental income of $254,700 annually. With in-place rents at or near market across the majority of the rent roll, a new investor can step into stable, day-one cash flow without near-term leasing risk.
- Turnkey Acquistion - With over $1,200,000 invested into the asset, the four existing units have been fully renovated with a full plumbing repipe, new vinyl plank flooring, scraped popcorn ceilings, new white shaker cabinets, countertops, stainless steel appliances, and updated bathrooms. The exterior has been improved with new paint, a new concrete driveway, and new windows throughout. The property requires no additional capital outlay to stabilize.
- Desirable Westside Costa Mesa Location - Situated on W. 20th Street in Westside Costa Mesa, the property offers residents convenient access to the restaurants, retail, and entertainment Costa Mesa is known for. Triangle Square and the 17th Street Promenade are both nearby, and Newport Beach is a short drive away a strong amenity base that supports sustained rental demand.
Listing Contacts
Listed by CBRE - Orange County
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Loan Amount
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Annual Debt Service
$--
$--
Annual Cash Flow
$181,375.00
$15,114.58/mo
Valuation Metrics
0
DSCR
4.53%
Cap Rate
4.53%
ROI
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