Four-Unit Multifamily
For Sale
$2,195,000
1124 Victoria, Costa Mesa, CA 92627
Built in 1961, this four-unit quadplex includes covered carports, private patios, and balconies.
Property Size3,449 SF
Lot Size0.30 Acres
Price / SF$636.42
Days on Market151
Property Features for 1124 Victoria
General Information
Standard status
Active
Size
3,449 SF
Lot size
0.30 Acres
Property subtype
Quadruplex
Amenities
private patios
balconies
Building Details
Building Size
3,449 SF
Year Built
1961
Tenancy
Multi
Listing Agency:
Marcus & Millichap RE Invest
(949) 419-3234
Listed By:
Greg Bassirpou · License #01365951
Source:
Summerperrygroup
Added: Mar 2
Changed: Jul 30
Last Checked: Jul 30 at 6:32AM
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 quadplex constructed in 1961. The unit mix includes (2) single-story three-bedroom/two-bath units and (2) studio units, totaling approximately 3,449 square feet. Set on a 13,047 square foot lot, the property offers covered carports for ample on-site parking, along with private patios and balconies that support a strong resident experience.
Select units have undergone recent upgrades and renovations. The site also provides flexibility for future operational considerations, including potential ADU opportunities. Located in Costa Mesa’s Greater Orange County area near major retail, dining, and entertainment corridors, the property is described as just minutes from Huntington Beach and near The Triangle Square, OC Fair & Event Center, 17th Street Promenade, and Talbert Regional Park.
Select units have undergone recent upgrades and renovations. The site also provides flexibility for future operational considerations, including potential ADU opportunities. Located in Costa Mesa’s Greater Orange County area near major retail, dining, and entertainment corridors, the property is described as just minutes from Huntington Beach and near The Triangle Square, OC Fair & Event Center, 17th Street Promenade, and Talbert Regional Park.
Key Highlights
- Quadplex with four units: (2) three‑bedroom/two‑bath and (2) studios
- Approximately 3,449 SF total building area
- 13,047 SF lot with 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 3.59%
Second Best
Apartment 5plus
$1.05M
$915.1K – $1.22M
NOI $73,207 @ 7.0% cap · market cap 3.34%
Theoretical Best
Office A
$1.17M
$1.02M – $1.36M
NOI $81,769 @ 7.0% cap · market cap 3.73%
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
499
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?
Quadplex - Built in 1961, this four-unit quadplex includes covered carports, private patios, and balconies.
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 $2,195,000.
What are key features of this property?
This property features: Quadplex with four units: (2) three‑bedroom/two‑bath and (2) studios; Approximately 3,449 SF total building area; 13,047 SF lot with potential ADU opportunities
