8-Unit Multifamily
136 E Bay, Costa Mesa, CA 92627
For Sale
$3,900,000
Two adjacent buildings combine a varied apartment mix with on-site laundry, garage parking, and outdoor areas for lower-level residences.
Property Size5,472 SF
Days on Market151
Property Features for 136 E Bay
General Information
Standard status
Size
Property subtype
Units
Unit Mix
Multifamily Units
Additional Details
Highway Access
Amenities
on-site laundry
outdoor living areas
Building Details
Building Size
Year Built
Buildings
Listing Agency:
D E Properties
Listed By:
Erik Rettberg · License #02010692
(714) 609-6721
Source:
Stephanieyounggroup
Added: Jun 12
Changed: Nov 9
Last Checked: Nov 8 at 2:50PM
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 D E Properties
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Investment Insights
Based on property information with market context.
Two adjacent apartment buildings at 136 and 132 E. Bay St. are offered together, with eight residences totaling 5,472 square feet. The unit mix includes four two-bedroom, one-bath apartments and four one-bedroom, one-bath apartments. Built in 1961, the properties include on-site laundry and garage space at each building, along with additional uncovered parking. Lower-level apartments have outdoor living areas. The buildings have verified SB721 inspection reports covering stairs and patios.
The Costa Mesa property is minutes from Newport Beach, Triangle Square, the Back Bay, the 55 Freeway, John Wayne Airport, and area shopping, dining, and entertainment.
The Costa Mesa property is minutes from Newport Beach, Triangle Square, the Back Bay, the 55 Freeway, John Wayne Airport, and area shopping, dining, and entertainment.
Key Highlights
- Eight apartments: four 2‑bedroom, 1‑bath units and four 1‑bedroom, 1‑bath units
- Combined property size of 5,472 square feet
- Two adjacent buildings at 136 and 132 E. Bay St.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$116,146
Cap Rate
2.98%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,322,920
$2.3M
Cap Rate 7%
$1,659,229
$1.7M
Cap Rate 9%
$1,290,511
$1.3M
Market Conditions
NOI Build-Up for 5,472 SF
Gross rent
$220.0K $40.20/SF
− Vacancy
−$8.8K −$1.61/SF
EGI
$211.2K $38.59/SF
− OpEx
−$95.0K −$17.37/SF
NOI
$116.1K $21.23/SF
Area
Costa Mesa, CA
Vacancy
4.00%
Lease Rate
$40.20 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,322,920
Cap Rate 7%
$1,659,229
Cap Rate 9%
$1,290,511
Alternative Uses
Best Use
Apartment 5plus
$1.66M
$1.45M – $1.94M
NOI $116,146 @ 7.0% cap · market cap 2.98%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.85M
$1.62M – $2.16M
NOI $129,731 @ 7.0% cap · market cap 3.33%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
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Open Analytics
Lease Details
8
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
2,217
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
$1,074,900
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Apartment buildings in Orange County, CA
Properties on Market for Apartment buildings in Orange County
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - Two adjacent buildings combine a varied apartment mix with on-site laundry, garage parking, and outdoor areas for lower-level residences.
Where is this apartment building located?
The property is located at 136 E Bay Costa Mesa, CA.
What is the asking price?
The asking price for this property is $3,900,000.
What are key features of this property?
This property features: Eight apartments: four 2‑bedroom, 1‑bath units and four 1‑bedroom, 1‑bath units; Combined property size of 5,472 square feet; Two adjacent buildings at 136 and 132 E. Bay St.
