3-Unit Triplex on Corner
For Sale
$1,650,000
3045 Coolidge, Costa Mesa, CA 92626
Triplex with three 2-bedroom units on a corner lot, built in 1962, near Paularino Elementary.
Property Size3,191 SF
Days on Market23
Property Features for 3045 Coolidge
General Information
Standard status
Active
Size
3,191 SF
Property subtype
Apartment
Site & Location
Highway Access
Yes
Road Access
Yes
Additional Details
Multifamily Units
3
Building Details
Building Size
3,191 SF
Year Built
1962
Buildings
1
Listing Agency:
Seven Gables Real Estate
Listed By:
Dave Troutt · License #01749025
Source:
Altamirarealty
Added: Jul 21
Changed: Aug 9
Last Checked: Aug 11 at 12:46PM
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 Seven Gables Real Estate
Investment Insights
Based on property information with market context.
This 3-unit triplex is located on a prime corner lot and features three spacious 2-bedroom units with 1 and 2 bathrooms. The property is described as having excellent curb appeal and abundant natural light, with a layout that appeals to long-term tenants.
Set in a Costa Mesa rental neighborhood, the corner location is bordered by established single-family homes on one side and multifamily residences on the other. Residents are within walking distance to Paularino Elementary School, with nearby parks and neighborhood shopping, restaurants, and everyday conveniences.
The property also provides convenient access throughout Orange County via the 55, 405, and 73 Freeways. It is described as being just minutes from South Coast Plaza, Segerstrom Center for the Arts, Orange Coast College, John Wayne Airport, and the beaches of Newport Beach and Huntington Beach.
Set in a Costa Mesa rental neighborhood, the corner location is bordered by established single-family homes on one side and multifamily residences on the other. Residents are within walking distance to Paularino Elementary School, with nearby parks and neighborhood shopping, restaurants, and everyday conveniences.
The property also provides convenient access throughout Orange County via the 55, 405, and 73 Freeways. It is described as being just minutes from South Coast Plaza, Segerstrom Center for the Arts, Orange Coast College, John Wayne Airport, and the beaches of Newport Beach and Huntington Beach.
Key Highlights
- Three 2‑bedroom units with 1 and 2 bathrooms
- Prime corner lot location
- Built in 1962
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
$72,955
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
4.42%
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%
$1,459,100
$1.5M
Cap Rate 7%
$1,042,214
$1.0M
Cap Rate 9%
$810,611
$810.6K
Market Conditions
NOI Build-Up for 3,191 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
$109.1K $34.20/SF
− Vacancy
−$4.9K −$1.54/SF
EGI
$104.2K $32.66/SF
− OpEx
−$31.3K −$9.80/SF
NOI
$73.0K $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 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%
$1,459,100
Cap Rate 7%
$1,042,214
Cap Rate 9%
$810,611
Alternative Uses
Best Use
Multifamily LT 5
$1.04M
$911.9K – $1.22M
NOI $72,955 @ 7.0% cap · market cap 4.42%
Second Best
Apartment 5plus
$967.6K
$846.6K – $1.13M
NOI $67,731 @ 7.0% cap · market cap 4.10%
Theoretical Best
Office A
$1.08M
$945.7K – $1.26M
NOI $75,653 @ 7.0% cap · market cap 4.59%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,304
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
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Triplex with three 2-bedroom units on a corner lot, built in 1962, near Paularino Elementary.
Where is this triplex located?
The property is located at 3045 Coolidge Costa Mesa, CA.
What is the asking price?
The asking price for this property is $1,650,000.
What are key features of this property?
This property features: Three 2‑bedroom units with 1 and 2 bathrooms; Prime corner lot location; Built in 1962
