Fourplex with Two-Bedroom
For Sale
$2,150,000
2976 Royal Palm, Costa Mesa, CA 92626
Fully occupied 4-plex offers four 2-bedroom, 1-bath units with immediate rental income.
Property Size7,405 SF
Days on Market93
Property Features for 2976 Royal Palm
General Information
Standard status
Active
Size
7,405 SF
Property subtype
Quadruplex
Building Details
Building Size
7,405 SF
Year Built
1960
Listing Agency:
The L3
Listed By:
Colby Reedy · License #01943839
(949) 445-5562
Source:
Stephanieyounggroup
Added: Jul 15
Changed: Oct 13
Last Checked: Oct 15 at 5:45AM
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 The L3
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Investment Insights
Based on property information with market context.
2976 Royal Palm Drive presents a fully occupied 4-plex with four spacious 2-bedroom, 1-bath units. The property is currently 100% rented, providing income from day one while maintaining an established rental footprint.
Located in Costa Mesa, CA 92626 in the Mesa Verde area, the asset benefits from very walkable and very bikeable surroundings, with a transit score of 45 (some transit).
This is a straightforward multifamily investment configuration centered on four identical unit layouts designed to support consistent occupancy through ongoing tenant demand.
Located in Costa Mesa, CA 92626 in the Mesa Verde area, the asset benefits from very walkable and very bikeable surroundings, with a transit score of 45 (some transit).
This is a straightforward multifamily investment configuration centered on four identical unit layouts designed to support consistent occupancy through ongoing tenant demand.
Key Highlights
- Fully occupied 4‑plex with all four units currently rented for immediate rental income
- Four spacious 2‑bedroom, 1‑bath units in the Mesa Verde area
- Year built: 1960
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$169,298
Cap Rate
7.87%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,385,960
$3.4M
Cap Rate 7%
$2,418,543
$2.4M
Cap Rate 9%
$1,881,089
$1.9M
Market Conditions
NOI Build-Up for 7,405 SF
Gross rent
$253.3K $34.20/SF
− Vacancy
−$11.4K −$1.54/SF
EGI
$241.9K $32.66/SF
− OpEx
−$72.6K −$9.80/SF
NOI
$169.3K $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%
$3,385,960
Cap Rate 7%
$2,418,543
Cap Rate 9%
$1,881,089
Alternative Uses
Best Use
Multifamily LT 5
$2.42M
$2.12M – $2.82M
NOI $169,298 @ 7.0% cap · market cap 7.87%
Second Best
Apartment 5plus
$2.25M
$1.96M – $2.62M
NOI $157,176 @ 7.0% cap · market cap 7.31%
Theoretical Best
Office A
$2.51M
$2.19M – $2.93M
NOI $175,559 @ 7.0% cap · market cap 8.17%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,418
Businesses Nearby
Explore this area
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Quadplex - Fully occupied 4-plex offers four 2-bedroom, 1-bath units with immediate rental income.
Where is this quadplex located?
The property is located at 2976 Royal Palm Costa Mesa, CA.
What is the asking price?
The asking price for this property is $2,150,000.
What are key features of this property?
This property features: Fully occupied 4‑plex with all four units currently rented for immediate rental income; Four spacious 2‑bedroom, 1‑bath units in the Mesa Verde area; Year built: 1960
