4-Unit Apartment
2902 Peppertree Ln, Costa Mesa, CA 92626
For Sale
$2,175,000
Residents have access to a shared coin-operated laundry room.
Property Size3,550 SF
Days on Market49
Property Features for 2902 Peppertree Ln
General Information
Standard status
Size
Property subtype
Units
Unit Mix
Multifamily Units
Amenities
community laundry
Building Details
Building Size
Year Built
Buildings
Stories
Units
Listed By:
Sally Roldan
Source:
Elliman
Added: Sep 28
Changed: Nov 6
Last Checked: Nov 14 at 6:54AM
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 Sally Roldan
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Investment Insights
Based on property information with market context.
Built in 1960, this four-unit apartment property at 2902 Peppertree Ln in Costa Mesa has a consistent two-bedroom, one-bathroom layout. Living rooms connect with dining areas and kitchens, while ceiling fans are installed in dining rooms and bedrooms. Unit finishes differ, including carpet or laminate flooring; some kitchens have dishwashers and washer/dryer hookups. Several interiors were updated or painted within the past year. A downstairs apartment has a side yard with a block wall and patio slab. A coin-operated laundry room is located in one of the garages.
The roof is approximately 10 years old. The exterior was painted approximately 2 years ago, and dual-pane windows were installed approximately 1 year ago. Renovations to the rear area, completed approximately 5 years ago, added cement driveways and additional parking. Street parking is also available along the single-loaded street. WalkScore is 83, BikeScore is 64, and TransitScore is 40.
The roof is approximately 10 years old. The exterior was painted approximately 2 years ago, and dual-pane windows were installed approximately 1 year ago. Renovations to the rear area, completed approximately 5 years ago, added cement driveways and additional parking. Street parking is also available along the single-loaded street. WalkScore is 83, BikeScore is 64, and TransitScore is 40.
Key Highlights
- Four apartments, each with 2 bedrooms and 1 bathroom
- Shared coin‑operated laundry room in one garage
- Roof is approximately 10 years old
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$81,163
Cap Rate
3.73%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,623,260
$1.6M
Cap Rate 7%
$1,159,471
$1.2M
Cap Rate 9%
$901,811
$901.8K
Market Conditions
NOI Build-Up for 3,550 SF
Gross rent
$121.4K $34.20/SF
− Vacancy
−$5.5K −$1.54/SF
EGI
$115.9K $32.66/SF
− OpEx
−$34.8K −$9.80/SF
NOI
$81.2K $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 Rate 5%
$1,623,260
Cap Rate 7%
$1,159,471
Cap Rate 9%
$901,811
Alternative Uses
Best Use
Multifamily LT 5
$1.16M
$1.01M – $1.35M
NOI $81,163 @ 7.0% cap · market cap 3.73%
Second Best
Apartment 5plus
$1.08M
$941.9K – $1.26M
NOI $75,351 @ 7.0% cap · market cap 3.46%
Theoretical Best
Office A
$1.20M
$1.05M – $1.40M
NOI $84,164 @ 7.0% cap · market cap 3.87%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
1,613
Businesses Nearby
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Business Placement
Demographics for 92626, CA
50,885
Population
20,643
Households
2.5
Avg Household Size
37
Median Age
46%
College-Educated
91%
High-School Grad
9.7 sq mi
ZIP Area
5,246
Density / Sq Mi
$117,627
Median Household Income
$55,920
Median Earnings
$2,520
Median Rent
$1,037,700
Median Home Value
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Market
Average Price Trend$/SF for Quadplexes in Orange County, CA
Properties on Market for Quadplexes in Orange County
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Quadplex - Residents have access to a shared coin-operated laundry room.
Where is this quadplex located?
The property is located at 2902 Peppertree Ln Costa Mesa, CA.
What is the asking price?
The asking price for this property is $2,175,000.
What are key features of this property?
This property features: Four apartments, each with 2 bedrooms and 1 bathroom; Shared coin‑operated laundry room in one garage; Roof is approximately 10 years old
