Single-Level Four-Unit Apartment
For Sale
$2,450,000
1034 El Camino Drive, Costa Mesa, CA 92626
Costa Mesa multifamily property with remodeled kitchens, bathrooms, flooring, and windows in two apartments.
Days on Market148
Property Features for 1034 El Camino Drive
General Information
Standard status
Active
Property subtype
Apartment
Building Details
Building Size
4,600 SF
Year Built
1964
Buildings
1
Stories
1
Tenancy
Multi
Listing Agency:
Price Shapiro, Broker
Listed By:
Price Shapiro · License #00589188
Source:
Stephanieyounggroup
Added: Mar 9
Changed: Jul 31
Last Checked: Aug 2 at 12:01PM
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 Price Shapiro, Broker
Investment Insights
Based on property information with market context.
This 1964-built quadplex contains four single-level apartments, each with three bedrooms and approximately 1,150 square feet. Two apartments have been remodeled with new kitchens, bathrooms, vinyl plank flooring, and new vinyl windows. The building has also been re-piped with copper pipe, and all four electrical panels have been replaced with new panels.
The property is located on El Camino Drive in Costa Mesa, near schools, Orange Coast College, South Coast Plaza, and transportation. The four-unit configuration and consistent three-bedroom layout provide a clearly defined multifamily asset with recent improvements completed in two apartments and building-wide plumbing and electrical updates.
The property is located on El Camino Drive in Costa Mesa, near schools, Orange Coast College, South Coast Plaza, and transportation. The four-unit configuration and consistent three-bedroom layout provide a clearly defined multifamily asset with recent improvements completed in two apartments and building-wide plumbing and electrical updates.
Key Highlights
- Four single‑level apartments, each with 3 bedrooms and about 1150 square feet
- Two apartments remodeled with new kitchens, bathrooms, vinyl planking, and new vinyl windows
- Whole building re‑piped with coper pipe
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $157.3k | $34.20 |
| − Vacancy | −$7.1k | −$1.54 |
| EGI | $150.2k | $32.66 |
| − OpEx | −$45.1k | −$9.80 |
| NOI | $105.2k | $22.86 |
4,600 SF · lease $34.20/SF/yr · vacancy 4.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$1.50M
$1.31M – $1.75M
NOI $105,168 @ 7.0% cap · market cap 4.29%
Second Best
Apartment 5plus
$1.39M
$1.22M – $1.63M
NOI $97,638 @ 7.0% cap · market cap 3.99%
Theoretical Best
Office A
$1.56M
$1.36M – $1.82M
NOI $109,058 @ 7.0% cap · market cap 4.45%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,013
Businesses Nearby
Explore this area
Business Placement
Demographics for 92626, CA
50,885
Population
20,643
Households
2.5
Avg Household Size
37
Median Age
46%
College-Educated
91%
High-School Grad
9.7 sq mi
ZIP Area
5,246
Density / Sq Mi
$117,627
Median Household Income
$55,920
Median Earnings
$2,520
Median Rent
$1,037,700
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?
Quadplex - Costa Mesa multifamily property with remodeled kitchens, bathrooms, flooring, and windows in two apartments.
Where is this quadplex located?
The property is located at 1034 El Camino Drive Costa Mesa, CA.
What is the asking price?
The asking price for this property is $2,450,000.
What are key features of this property?
This property features: Four single‑level apartments, each with 3 bedrooms and about 1150 square feet; Two apartments remodeled with new kitchens, bathrooms, vinyl planking, and new vinyl windows; Whole building re‑piped with coper pipe
