Four-Unit Apartment
1124 Victoria Costa Mesa, CA 92627
For Sale
$2,250,000
Four-unit apartment building built in 1961 with studios and three-bedroom units and parking with covered carports.
Property Size3,449 SF
Lot Size0.30 Acres
Price / SF$652.36
Days on Market142
Property Features for 1124 Victoria
General Information
- Standard status
- Active
- Size
- 3,449 SF
- Lot size
- 0.30 Acres
- Property subtype
- Multi Family
Building Details
- Year Built
- 1961
Listing Agency:
Marcus & Millichap RE Invest
(714) 608-3255
Listed By:
Greg Bassirpou · License #01365951
(714) 608-3255
Source:
Exitrealty
Added: Mar 4
Changed: Jul 23
Last Checked: Jul 23 at 10:07AM
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 Marcus & Millichap RE Invest
Investment Insights
Based on property information with market context.
The Victoria Street Apartments is a four-unit apartment building constructed in 1961. The property includes two single-story three-bedroom/two-bath units and two studio units, totaling approximately 3,449 square feet. The layout is complemented by ample on-site parking with covered carports, along with private patios and balconies for select units. Select units have undergone recent upgrades and renovations.
The property sits on an approximately 13,047-square-foot lot and offers flexibility for future on-site options, with the remarks noting potential ADU opportunities. Conveniently located in Costa Mesa near retail, dining, and entertainment corridors, the building is also described as minutes from Huntington Beach and close to The Triangle Square, the OC Fair & Event Center, the 17th Street Promenade, and Talbert Regional Park.
The property sits on an approximately 13,047-square-foot lot and offers flexibility for future on-site options, with the remarks noting potential ADU opportunities. Conveniently located in Costa Mesa near retail, dining, and entertainment corridors, the building is also described as minutes from Huntington Beach and close to The Triangle Square, the OC Fair & Event Center, the 17th Street Promenade, and Talbert Regional Park.
Key Highlights
- Four‑unit multifamily building built in 1961
- Unit mix includes (2) 3‑bed/2‑bath single‑story units and (2) studios, totaling approx. 3,449 SF
- Set on a 13,047 SF lot with ample room for future operational flexibility, including potential ADU opportunities
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 | $118.0k | $34.20 |
| − Vacancy | −$5.3k | −$1.54 |
| EGI | $112.6k | $32.66 |
| − OpEx | −$33.8k | −$9.80 |
| NOI | $78.9k | $22.86 |
3,449 SF · lease $34.20/SF/yr · vacancy 4.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$1.13M
$985.7K – $1.31M
NOI $78,853 @ 7.0% cap · market cap 3.50%
Second Best
Apartment 5plus
$1.05M
$915.1K – $1.22M
NOI $73,207 @ 7.0% cap · market cap 3.25%
Theoretical Best
Office A
$1.17M
$1.02M – $1.36M
NOI $81,769 @ 7.0% cap · market cap 3.63%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Quadplexes
FAQs
What type of property is this?
Quadplex - Four-unit apartment building built in 1961 with studios and three-bedroom units and parking with covered carports.
Where is this quadplex located?
The property is located at 1124 Victoria Costa Mesa, CA.
What is the asking price?
The asking price for this property is $2,250,000.
What are key features of this property?
This property features: Four‑unit multifamily building built in 1961; Unit mix includes (2) 3‑bed/2‑bath single‑story units and (2) studios, totaling approx. 3,449 SF; Set on a 13,047 SF lot with ample room for future operational flexibility, including potential ADU opportunities
