4-Unit Apartment
2904 Peppertree Ln, Costa Mesa, CA 92626
For Sale
$2,225,000
Each residence has two bedrooms and one bathroom, with living, dining, and kitchen areas.
Property Size3,550 SF
Days on Market49
Property Features for 2904 Peppertree Ln
General Information
Standard status
Size
Property subtype
Units
Unit Mix
Multifamily Units
Building Details
Building Size
Year Built
Buildings
Stories
Units
Listed By:
Sally Roldan
Source:
Elliman
Added: Sep 28
Changed: Nov 7
Last Checked: Nov 14 at 6:14AM
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.
At 2904 Peppertree Ln in Costa Mesa, this four-unit residential property has a consistent two-bedroom, one-bathroom layout in each residence. Living rooms connect to dining areas and kitchens. Finishes and included features differ by unit; some have dishwashers and washer/dryer hookups, and one is furnished. Flooring includes carpet, with laminate in two downstairs units. Several interiors have been upgraded, and some were painted within the past year.
The roof is approximately 10 years old. Dual-pane windows were installed approximately 1 year ago, and the building exteriors were painted about 1 year ago. A rear-area renovation approximately 5 years ago added cement driveways and parking. Newer roll-up garage doors are also present. Street parking is available along the single-loaded street.
The property is near shopping, dining, and transportation. Its Walk Score is 72, Bike Score is 90, and Transit Score is 45. An adjacent four-unit property at 2902 Peppertree is also offered for purchase under a separate listing.
The roof is approximately 10 years old. Dual-pane windows were installed approximately 1 year ago, and the building exteriors were painted about 1 year ago. A rear-area renovation approximately 5 years ago added cement driveways and parking. Newer roll-up garage doors are also present. Street parking is available along the single-loaded street.
The property is near shopping, dining, and transportation. Its Walk Score is 72, Bike Score is 90, and Transit Score is 45. An adjacent four-unit property at 2902 Peppertree is also offered for purchase under a separate listing.
Key Highlights
- Four units, each with 2 bedrooms and 1 bathroom
- Dual‑pane windows installed approximately 1 year ago
- Building exteriors painted about 1 year ago
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$81,163
Cap Rate
3.65%
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 3.65%
Second Best
Apartment 5plus
$1.08M
$941.9K – $1.26M
NOI $75,351 @ 7.0% cap · market cap 3.39%
Theoretical Best
Office A
$1.20M
$1.05M – $1.40M
NOI $84,164 @ 7.0% cap · market cap 3.78%
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 - Each residence has two bedrooms and one bathroom, with living, dining, and kitchen areas.
Where is this quadplex located?
The property is located at 2904 Peppertree Ln Costa Mesa, CA.
What is the asking price?
The asking price for this property is $2,225,000.
What are key features of this property?
This property features: Four units, each with 2 bedrooms and 1 bathroom; Dual‑pane windows installed approximately 1 year ago; Building exteriors painted about 1 year ago
