Triplex with
New
For Sale
$2,375,000
120 Lisa Lane, Costa Mesa, CA 92627
Three residential units offer laundry hookups and private patios or balconies, with garage parking on a cul-de-sac.
Property Size3,148 SF
Days on Market4
Property Features for 120 Lisa Lane
General Information
Standard status
Active
Size
3,148 SF
Property subtype
Apartment
Building Details
Building Size
3,148 SF
Year Built
1973
Listing Agency:
Morgan Skenderian
Listed By:
Rick Applebaum · License #01273871
Source:
Velocityrealtysd
Added: Sep 28
Changed: Oct 1
Last Checked: Sep 30 at 1:34PM
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 Morgan Skenderian
Investment Insights
Based on property information with market context.
At 120 Lisa Lane, this Costa Mesa triplex contains three units: one with 3 bedrooms and 2 bathrooms, and two with 2 bedrooms and 1 bathroom each. Laundry hookups and a private patio or balcony are provided in each unit. A four-car garage serves the property, which was built in 1973.
The property sits at the end of a cul-de-sac in Eastside Costa Mesa. Its unit mix, individual outdoor areas, laundry hookups, and garage parking are the key physical features of the residential income property.
The property sits at the end of a cul-de-sac in Eastside Costa Mesa. Its unit mix, individual outdoor areas, laundry hookups, and garage parking are the key physical features of the residential income property.
Key Highlights
- Three‑unit mix: one 3BR/2BA unit and two 2BR/1BA units
- Four‑car garage
- Laundry hookups in each unit
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
$71,972
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
3.03%
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%
$1,439,440
$1.4M
Cap Rate 7%
$1,028,171
$1.0M
Cap Rate 9%
$799,689
$799.7K
Market Conditions
NOI Build-Up for 3,148 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
$107.7K $34.20/SF
− Vacancy
−$4.8K −$1.54/SF
EGI
$102.8K $32.66/SF
− OpEx
−$30.8K −$9.80/SF
NOI
$72.0K $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%
$1,439,440
Cap Rate 7%
$1,028,171
Cap Rate 9%
$799,689
Alternative Uses
Best Use
Multifamily LT 5
$1.03M
$899.7K – $1.20M
NOI $71,972 @ 7.0% cap · market cap 3.03%
Second Best
Apartment 5plus
$954.5K
$835.2K – $1.11M
NOI $66,818 @ 7.0% cap · market cap 2.81%
Theoretical Best
Office A
$1.07M
$932.9K – $1.24M
NOI $74,633 @ 7.0% cap · market cap 3.14%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
910
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Triplex - Three residential units offer laundry hookups and private patios or balconies, with garage parking on a cul-de-sac.
Where is this triplex located?
The property is located at 120 Lisa Lane Costa Mesa, CA.
What is the asking price?
The asking price for this property is $2,375,000.
What are key features of this property?
This property features: Three‑unit mix: one 3BR/2BA unit and two 2BR/1BA units; Four‑car garage; Laundry hookups in each unit
