Duplex with
New
For Sale
$1,999,888
3131 Coral, Costa Mesa, CA 92626
The remodeled main residence is complemented by a separate two-bedroom, two-bathroom unit.
Property Size2,611 SF
Lot Size0.20 Acres
Days on Market5
Property Features for 3131 Coral
General Information
Standard status
Active
Size
2,611 SF
Lot size
0.20 Acres
Property subtype
Duplex
Zoning
C4
Units
Unit Mix
1 x 3BR/2BA, 1 x 2BR/2BA
Multifamily Units
2
Additional Details
Highway Access
Yes
Amenities
pool
spa
Building Details
Building Size
2,611 SF
Year Built
1970
Buildings
1
Listing Agency:
Coldwell Banker Realty
Listed By:
Kurt Galitski · License #01348644
Source:
Summerperrygroup
Added: Oct 17
Changed: Oct 21
Last Checked: Oct 21 at 12:39AM
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 Coldwell Banker Realty
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Investment Insights
Based on property information with market context.
This 1970 duplex includes a three-bedroom, two-bathroom main residence and a separate two-bedroom, two-bathroom unit. The main home has a remodeled kitchen with custom cabinetry, new flooring, and updated paint. A pool, spa, and oversized yard provide outdoor amenities, and a new roof covers the building.
The property is in the Spice Streets area of Central Costa Mesa, minutes from South Coast Plaza, schools, parks, and the 405, 55, and 73 freeways. The site measures more than 8,700 square feet.
The property is in the Spice Streets area of Central Costa Mesa, minutes from South Coast Plaza, schools, parks, and the 405, 55, and 73 freeways. The site measures more than 8,700 square feet.
Key Highlights
- Two residences: a 3‑bedroom, 2‑bathroom main home and a 2‑bedroom, 2‑bathroom secondary unit
- More than 8,700 square feet of land
- Main residence remodeled with a new kitchen, custom cabinetry, flooring, and paint
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$59,695
Cap Rate
2.98%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,193,900
$1.2M
Cap Rate 7%
$852,786
$852.8K
Cap Rate 9%
$663,278
$663.3K
Market Conditions
NOI Build-Up for 2,611 SF
Gross rent
$89.3K $34.20/SF
− Vacancy
−$4.0K −$1.54/SF
EGI
$85.3K $32.66/SF
− OpEx
−$25.6K −$9.80/SF
NOI
$59.7K $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%
$1,193,900
Cap Rate 7%
$852,786
Cap Rate 9%
$663,278
Alternative Uses
Best Use
Multifamily LT 5
$852.8K
$746.2K – $994.9K
NOI $59,695 @ 7.0% cap · market cap 2.98%
Second Best
Apartment 5plus
$791.7K
$692.8K – $923.7K
NOI $55,420 @ 7.0% cap · market cap 2.77%
Theoretical Best
Office A
$884.3K
$773.8K – $1.03M
NOI $61,902 @ 7.0% cap · market cap 3.10%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
986
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
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Duplex - The remodeled main residence is complemented by a separate two-bedroom, two-bathroom unit.
Where is this duplex located?
The property is located at 3131 Coral Costa Mesa, CA.
What is the asking price?
The asking price for this property is $1,999,888.
What are key features of this property?
This property features: Two residences: a 3‑bedroom, 2‑bathroom main home and a 2‑bedroom, 2‑bathroom secondary unit; More than 8,700 square feet of land; Main residence remodeled with a new kitchen, custom cabinetry, flooring, and paint
