Townhouse-Style
For Sale
Contact for pricing
203 OGLE ST, Costa Mesa, CA 92627
Three residences offer varied layouts, including two townhouse-style units and a separate apartment-style residence.
Property Size3,366 SF
Price / SF$652.11
Days on Market98
Property Features for 203 OGLE ST
General Information
Standard status
Active
Size
3,366 SF
Class
C
Property subtype
Multifamily
Zoning
R2-MD
Occupancy
100%
Investment Type
Value Add
Net Operating Income
$55,707
Units
Unit Mix
1 x 4BR/2BA townhouse-style, 1 x 2BR/1.5BA townhouse-style, 1 x 2BR/1BA
Multifamily Units
3
Additional Details
Highway Access
Yes
Building Details
Year Built
1972
Buildings
1
Stories
2
Units
3
Listing Agency:
Gould Group Investment Real Estate
Listed By:
Nicholas Gould · License #CA 01521955
Source:
Crexi
Added: May 26
Changed: Aug 30
Last Checked: May 27 at 8:40AM
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 Gould Group Investment Real Estate
Investment Insights
Based on property information with market context.
203 Ogle Street is a triplex in Costa Mesa with three distinct residences. The unit mix includes one four-bedroom, two-bath townhouse-style home; one two-bedroom, one-and-a-half-bath townhouse-style home; and one two-bedroom, one-bath unit. The configuration provides a range of bedroom and bathroom layouts within a single multifamily property.
The property is situated in the Eastside Costa Mesa area near Newport Heights and Newport Beach. Nearby destinations include 17th Street, shopping and dining, Newport Harbor, and area beaches. Regional access is available via the 55, 73, and 405 freeways. The property is identified with Assessor zoning.
The property is situated in the Eastside Costa Mesa area near Newport Heights and Newport Beach. Nearby destinations include 17th Street, shopping and dining, Newport Harbor, and area beaches. Regional access is available via the 55, 73, and 405 freeways. The property is identified with Assessor zoning.
Key Highlights
- Three‑unit multifamily property at 203 Ogle Street, Costa Mesa, CA 92627
- Unit mix includes 1 4BR/2BA townhouse‑style unit
- Includes 1 2BR/1.5BA townhouse‑style 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
$76,956
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
3.51%
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%
$1,539,120
$1.5M
Cap Rate 7%
$1,099,371
$1.1M
Cap Rate 9%
$855,067
$855.1K
Market Conditions
NOI Build-Up for 3,366 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
$115.1K $34.20/SF
− Vacancy
−$5.2K −$1.54/SF
EGI
$109.9K $32.66/SF
− OpEx
−$33.0K −$9.80/SF
NOI
$77.0K $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%
$1,539,120
Cap Rate 7%
$1,099,371
Cap Rate 9%
$855,067
Alternative Uses
Best Use
Multifamily LT 5
$1.10M
$962.0K – $1.28M
NOI $76,956 @ 7.0% cap · market cap 3.51%
Second Best
Apartment 5plus
$1.02M
$893.1K – $1.19M
NOI $71,445 @ 7.0% cap · market cap 3.25%
Theoretical Best
Office A
$1.14M
$997.5K – $1.33M
NOI $79,802 @ 7.0% cap · market cap 3.64%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
4,126
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?
Triplex - Three residences offer varied layouts, including two townhouse-style units and a separate apartment-style residence.
Where is this triplex located?
The property is located at 203 OGLE ST 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: Three‑unit multifamily property at 203 Ogle Street, Costa Mesa, CA 92627; Unit mix includes 1 4BR/2BA townhouse‑style unit; Includes 1 2BR/1.5BA townhouse‑style unit
