Four-Unit Quadplex on Corner
New
For Sale
$2,499,000
2209 Elden Ave, Costa Mesa, CA 92627
Four residential units with a mix of two-bedroom, one-bedroom, and studio layouts on a corner parcel.
Days on Market5
Property Features for 2209 Elden Ave
General Information
Standard status
Active
Property subtype
Investment
Units
Unit Mix
1 x 2BR/2BA, 2 x 1BR/1BA, 1 x studio
Multifamily Units
4
Additional Details
Public Transit
Yes
Building Details
Building Size
3,650 SF
Year Built
1932
Listing Agency:
(949) 233-8161
Listed By:
Matt Perry
(949) 233-8161
Source:
Elliman
Added: Jul 29
Changed: Jul 30
Last Checked: Aug 2 at 5:41AM
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 Matt Perry
Investment Insights
Based on property information with market context.
This quadplex is situated on an expansive corner parcel of more than 9,000 square feet and built in 1932. The four-unit configuration includes one 2-bedroom, 2-bath residence, two 1-bedroom, 1-bath residences, and one spacious studio.
The 2-bedroom, 2-bath home at 147 Virginia Place features a front porch overlooking a hedged lawn, a spacious kitchen, an interior laundry room, a dedicated office area, direct access to an attached two-car garage, and a private rear patio for outdoor entertaining. Upstairs at 147½ Virginia Place, the 1-bedroom, 1-bath unit includes a recently remodeled shower, vaulted ceilings, wood flooring, a charming sleeping loft, and its own private laundry room. The studio offers stone flooring, an oversized fireplace, a kitchen with slab countertops, private laundry, and a covered outdoor entertaining area adjacent to an expansive grassy yard.
The remaining unit at 2209 Elden Avenue is a 1-bedroom, 1-bath residence with wood flooring, a private garage with its own laundry, additional off-street parking, and a secluded rear yard with a deck and generous lawn area. WalkScore is 86 (Very Walkable) and bikeScore is 65 (Bikeable), with a transitScore of 44 (Some Transit).
The 2-bedroom, 2-bath home at 147 Virginia Place features a front porch overlooking a hedged lawn, a spacious kitchen, an interior laundry room, a dedicated office area, direct access to an attached two-car garage, and a private rear patio for outdoor entertaining. Upstairs at 147½ Virginia Place, the 1-bedroom, 1-bath unit includes a recently remodeled shower, vaulted ceilings, wood flooring, a charming sleeping loft, and its own private laundry room. The studio offers stone flooring, an oversized fireplace, a kitchen with slab countertops, private laundry, and a covered outdoor entertaining area adjacent to an expansive grassy yard.
The remaining unit at 2209 Elden Avenue is a 1-bedroom, 1-bath residence with wood flooring, a private garage with its own laundry, additional off-street parking, and a secluded rear yard with a deck and generous lawn area. WalkScore is 86 (Very Walkable) and bikeScore is 65 (Bikeable), with a transitScore of 44 (Some Transit).
Key Highlights
- Expansive corner parcel of more than 9,000 square feet
- Built in 1932 quadplex with four residential units
- Unit mix: one 2‑bedroom/2‑bath, two 1‑bedroom/1‑bath, one studio
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 | $124.8k | $34.20 |
| − Vacancy | −$5.6k | −$1.54 |
| EGI | $119.2k | $32.66 |
| − OpEx | −$35.8k | −$9.80 |
| NOI | $83.4k | $22.86 |
3,650 SF · lease $34.20/SF/yr · vacancy 4.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$1.19M
$1.04M – $1.39M
NOI $83,449 @ 7.0% cap · market cap 3.34%
Second Best
Apartment 5plus
$1.11M
$968.4K – $1.29M
NOI $77,473 @ 7.0% cap · market cap 3.10%
Theoretical Best
Office A
$1.24M
$1.08M – $1.44M
NOI $86,535 @ 7.0% cap · market cap 3.46%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
1,459
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Quadplex - Four residential units with a mix of two-bedroom, one-bedroom, and studio layouts on a corner parcel.
Where is this quadplex located?
The property is located at 2209 Elden Ave Costa Mesa, CA.
What is the asking price?
The asking price for this property is $2,499,000.
What are key features of this property?
This property features: Expansive corner parcel of more than 9,000 square feet; Built in 1932 quadplex with four residential units; Unit mix: one 2‑bedroom/2‑bath, two 1‑bedroom/1‑bath, one studio
