Townhome-Style
For Sale
$2,350,000
181 Cecil Pl, Costa Mesa, CA 92627
Two attached residences offer private patios, laundry hookups, and direct-access garages for practical everyday functionality.
Property Size3,266 SF
Price / SF$719.53
Days on Market11
Property Features for 181 Cecil Pl
General Information
Standard status
Active
Size
3,266 SF
Property subtype
Residential Income
Listing Agency:
CB Richard Ellis, Inc.
(949) 648-1474
Listed By:
Jack O'Connor
(949) 648-1474
Source:
Exprealty
Added: Aug 20
Changed: Aug 29
Last Checked: Aug 29 at 4:05PM
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 CB Richard Ellis, Inc.
Investment Insights
Based on property information with market context.
Constructed in 1991, this duplex contains two townhome-style residences totaling 3,266 square feet. Each unit features three bedrooms, a private patio, washer and dryer hookups, and a direct-access two-car garage. The configuration provides separate residential layouts within a single multifamily property.
The property is located at 181 Cecil Pl in Costa Mesa, California, within Orange County. Current rents are identified as below market in the available property information.
The property is located at 181 Cecil Pl in Costa Mesa, California, within Orange County. Current rents are identified as below market in the available property information.
Key Highlights
- Two‑unit duplex with townhome‑style layouts
- 3,266 square feet built in 1991
- Each residence includes three bedrooms and a private patio
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
$74,670
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
3.18%
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%
$1,493,400
$1.5M
Cap Rate 7%
$1,066,714
$1.1M
Cap Rate 9%
$829,667
$829.7K
Market Conditions
NOI Build-Up for 3,266 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
$111.7K $34.20/SF
− Vacancy
−$5.0K −$1.54/SF
EGI
$106.7K $32.66/SF
− OpEx
−$32.0K −$9.80/SF
NOI
$74.7K $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%
$1,493,400
Cap Rate 7%
$1,066,714
Cap Rate 9%
$829,667
Alternative Uses
Best Use
Multifamily LT 5
$1.07M
$933.4K – $1.24M
NOI $74,670 @ 7.0% cap · market cap 3.18%
Second Best
Apartment 5plus
$990.3K
$866.5K – $1.16M
NOI $69,323 @ 7.0% cap · market cap 2.95%
Theoretical Best
Office A
$1.11M
$967.9K – $1.29M
NOI $77,431 @ 7.0% cap · market cap 3.29%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,057
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?
Duplex - Two attached residences offer private patios, laundry hookups, and direct-access garages for practical everyday functionality.
Where is this duplex located?
The property is located at 181 Cecil Pl Costa Mesa, CA.
What is the asking price?
The asking price for this property is $2,350,000.
What are key features of this property?
This property features: Two‑unit duplex with townhome‑style layouts; 3,266 square feet built in 1991; Each residence includes three bedrooms and a private patio
