10-Unit Apartment
For Sale
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2256-2260 Maple St., Costa Mesa, CA 92627
R2-MD-zoned multifamily property with a 10-unit residential configuration in Costa Mesa.
Property Size7,840 SF
Price / SF$561.22
Days on Market116
Property Features for 2256-2260 Maple St.
General Information
Standard status
Active
Size
7,840 SF
Total Parking Spaces
16
Property subtype
Multifamily
Zoning
R2-MD
Net Operating Income
$181,324
Additional Details
Multifamily Units
10
Building Details
Year Built
1956
Year Renovated
2025
Buildings
2
Stories
2
Units
10
Listing Agency:
Marcus & Millichap - Orange County
Listed By:
Joseph Berkson · License #CA 01031951
Source:
Crexi
Added: May 8
Changed: Aug 30
Last Checked: Aug 30 at 10:58AM
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 Marcus & Millichap - Orange County
Investment Insights
Based on property information with market context.
This apartment property at 2256-2260 Maple St. in Costa Mesa contains 10 residential units within 7,840 square feet. The building was constructed in 1956 and is identified under R2-MD zoning, supporting its multifamily classification.
The property is located in the 92627 ZIP code and carries the Maple Street Apartments name. Its 10-unit configuration provides a defined apartment-building format for multifamily ownership and operation.
The property is located in the 92627 ZIP code and carries the Maple Street Apartments name. Its 10-unit configuration provides a defined apartment-building format for multifamily ownership and operation.
Key Highlights
- 10 residential units
- 7,840 square feet of property size
- R2‑MD zoning
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
$166,409
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
3.78%
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%
$3,328,180
$3.3M
Cap Rate 7%
$2,377,271
$2.4M
Cap Rate 9%
$1,848,989
$1.8M
Market Conditions
NOI Build-Up for 7,840 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
$315.2K $40.20/SF
− Vacancy
−$12.6K −$1.61/SF
EGI
$302.6K $38.59/SF
− OpEx
−$136.2K −$17.37/SF
NOI
$166.4K $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 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%
$3,328,180
Cap Rate 7%
$2,377,271
Cap Rate 9%
$1,848,989
Alternative Uses
Best Use
Apartment 5plus
$2.38M
$2.08M – $2.77M
NOI $166,409 @ 7.0% cap · market cap 3.78%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.66M
$2.32M – $3.10M
NOI $185,872 @ 7.0% cap · market cap 4.22%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
10
Residential units
Location Intelligence
Trade Area within ½ mile
1,124
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?
Apartment building - R2-MD-zoned multifamily property with a 10-unit residential configuration in Costa Mesa.
Where is this apartment building located?
The property is located at 2256-2260 Maple St. Costa Mesa, CA.
What is the asking price?
The asking price for this property is $4,400,000.
What are key features of this property?
This property features: 10 residential units; 7,840 square feet of property size; R2‑MD zoning
