Renovated Residential Income
For Sale
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241 Costa Mesa St Unit B, Costa Mesa, CA 92627
Two-bedroom, one-bath layout with patio area, in-unit laundry, and updated kitchen and bathroom.
Property Size720 SF
Days on Market81
Property Features for 241 Costa Mesa St Unit B
General Information
Standard status
Active
Size
720 SF
Property subtype
Triplex
Additional Details
Multifamily Units
1
Amenities
in unit laundry
patio
Building Details
Building Size
720 SF
Year Built
1954
Listing Agency:
Real Brokerage Technologies
Listed By:
Emma Verhoeven · License #02106517
Source:
Summerperrygroup
Added: Aug 3
Changed: Oct 18
Last Checked: Oct 21 at 2:45AM
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 Real Brokerage Technologies
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Investment Insights
Based on property information with market context.
This residential income unit at 241 Costa Mesa St, Unit B, was built in 1954 and has undergone extensive updates. The two-bedroom, one-bath layout connects the kitchen and living area in an open arrangement, with vinyl flooring, recessed lighting, and laundry inside the unit. The kitchen includes white shaker cabinetry, quartz countertops, stainless steel appliances, black hardware, and a breakfast bar. Both bedrooms offer large closets, while the bathroom has also been renovated.
An outdoor patio area provides additional space for seating or gatherings. The unit is part of a three-unit enclave in Costa Mesa, located minutes from the beaches and the conveniences of 17th Street.
An outdoor patio area provides additional space for seating or gatherings. The unit is part of a three-unit enclave in Costa Mesa, located minutes from the beaches and the conveniences of 17th Street.
Key Highlights
- Two‑bedroom, one‑bath residential income unit
- Renovated kitchen with quartz countertops, stainless steel appliances, shaker cabinetry, and breakfast bar
- Updated bathroom, vinyl flooring, and recessed lighting
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$15,282
Suggested Prices Based on Cap Rates
Cap Rate 5%
$305,640
$305.6K
Cap Rate 7%
$218,314
$218.3K
Cap Rate 9%
$169,800
$169.8K
Market Conditions
NOI Build-Up for 720 SF
Gross rent
$28.9K $40.20/SF
− Vacancy
−$1.2K −$1.61/SF
EGI
$27.8K $38.59/SF
− OpEx
−$12.5K −$17.37/SF
NOI
$15.3K $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%
$305,640
Cap Rate 7%
$218,314
Cap Rate 9%
$169,800
Alternative Uses
Best Use
Apartment 5plus
$218.3K
$191.0K – $254.7K
NOI $15,282 @ 7.0% cap · market cap 442.96%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$243.9K
$213.4K – $284.5K
NOI $17,070 @ 7.0% cap · market cap 494.78%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
2,273
Businesses Nearby
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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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Frequently Asked Questions
What type of property is this?
Residential income property - Two-bedroom, one-bath layout with patio area, in-unit laundry, and updated kitchen and bathroom.
Where is this residential income property located?
The property is located at 241 Costa Mesa St Unit B Costa Mesa, CA.
What are key features of this property?
This property features: Two‑bedroom, one‑bath residential income unit; Renovated kitchen with quartz countertops, stainless steel appliances, shaker cabinetry, and breakfast bar; Updated bathroom, vinyl flooring, and recessed lighting
