Two-Unit
For Sale
$1,275,000
1019 American Pl, Costa Mesa, CA 92627
Two residential units each offer two bedrooms and one bathroom in a mid-century property.
Property Size1,750 SF
Days on Market109
Property Features for 1019 American Pl
General Information
Standard status
Active
Size
1,750 SF
Property subtype
Multifamily
Occupancy
100%
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Amenities
Prime Westside Costa Mesa Location – Situated in one of Orange County's most sought-after coastal rental markets, just minutes from Newport Beach, major employment hubs, and retail corridors
Built in 1962 | Classic Construction – Solid mid-century construction with proven rental durability and opportunity for modernization
Strong Rental Submarket – Costa Mesa continues to benefit from proximity to coastal amenities, major freeways, and employment centers, supporting long-term tenant demand
First Time On The Market Since 1970- Generational ownership spanning over 50 years highlights the long-term stability and desirability of the asset
Building Details
Building Size
1,750 SF
Year Built
1962
Units
2
Construction
mid-century
Listing Agency:
South Bay Office
(424) 405-3855
Listed By:
Jonathan Weir · License #License(s): CA: 02038545
(424) 405-3855
Source:
Marcusmillichap
Added: May 14
Changed: Aug 29
Last Checked: Aug 29 at 2:41PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of South Bay Office
Investment Insights
Based on property information with market context.
This duplex contains two residential units, with each unit configured as two bedrooms and one bathroom. Built in 1962, the property reflects mid-century construction and has remained under the same ownership since 1970. The interiors and exterior presentation provide areas identified for modernization and curb-appeal improvements.
The property is located in Costa Mesa’s Westside submarket, with proximity to Newport Beach, Orange County employment centers, retail corridors, and major freeways. Its coastal setting and access to surrounding employment and shopping destinations form the primary location context.
The property is located in Costa Mesa’s Westside submarket, with proximity to Newport Beach, Orange County employment centers, retail corridors, and major freeways. Its coastal setting and access to surrounding employment and shopping destinations form the primary location context.
Key Highlights
- Two‑unit duplex with two bedrooms and one bathroom in each unit
- Built in 1962 with mid‑century construction
- Same ownership since 1970
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$40,010
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.14%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$800,200
$800.2K
Cap Rate 7%
$571,571
$571.6K
Cap Rate 9%
$444,556
$444.6K
Market Conditions
NOI Build-Up for 1,750 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$59.9K $34.20/SF
− Vacancy
−$2.7K −$1.54/SF
EGI
$57.2K $32.66/SF
− OpEx
−$17.1K −$9.80/SF
NOI
$40.0K $22.86/SF
Area
Costa Mesa, CA
Vacancy
4.50%
Lease Rate
$34.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$800,200
Cap Rate 7%
$571,571
Cap Rate 9%
$444,556
Alternative Uses
Best Use
Multifamily LT 5
$571.6K
$500.1K – $666.8K
NOI $40,010 @ 7.0% cap · market cap 3.14%
Second Best
Apartment 5plus
$530.6K
$464.3K – $619.1K
NOI $37,145 @ 7.0% cap · market cap 2.91%
Theoretical Best
Office A
$592.7K
$518.6K – $691.5K
NOI $41,489 @ 7.0% cap · market cap 3.25%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
610
Businesses Nearby
Explore this area
Business Placement
Demographics for 92627, CA
61,764
Population
23,286
Households
2.7
Avg Household Size
36
Median Age
42%
College-Educated
85%
High-School Grad
6.4 sq mi
ZIP Area
9,651
Density / Sq Mi
$105,039
Median Household Income
$49,236
Median Earnings
$2,299
Median Rent
$1,074,900
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two residential units each offer two bedrooms and one bathroom in a mid-century property.
Where is this duplex located?
The property is located at 1019 American Pl Costa Mesa, CA.
What is the asking price?
The asking price for this property is $1,275,000.
What are key features of this property?
This property features: Two‑unit duplex with two bedrooms and one bathroom in each unit; Built in 1962 with mid‑century construction; Same ownership since 1970
