Residential Income
For Sale
$1,850,000
735 W 18th, Costa Mesa, CA 92627
Existing improvements date to 1960, offering an established residential income asset.
Property Size2,512 SF
Days on Market16
Property Features for 735 W 18th
General Information
Standard status
Active
Size
2,512 SF
Total Parking Spaces
4
Property subtype
Residential Income
Net Operating Income
$92,868
Amenities
Curbs, Sidewalks
Building Details
Building Size
2,512 SF
Year Built
1960
Buildings
1
Stories
2
Listing Agency:
Keller Williams Costa Mesa
(714) 651-8830
Listed By:
Luis Anaya · License #01902377
(714) 651-8830
Source:
Evrealestate
Added: Aug 1
Changed: Aug 12
Last Checked: Aug 15 at 5:21AM
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 Keller Williams Costa Mesa
Investment Insights
Based on property information with market context.
This residential income property is located at 735 W 18th in Costa Mesa, California. The existing improvements were built in 1960.
Key Highlights
- Residential income property asset
- Built in 1960
- 735 W 18th, Costa Mesa, CA 92627
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
$53,319
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
2.88%
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%
$1,066,380
$1.1M
Cap Rate 7%
$761,700
$761.7K
Cap Rate 9%
$592,433
$592.4K
Market Conditions
NOI Build-Up for 2,512 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
$101.0K $40.20/SF
− Vacancy
−$4.0K −$1.61/SF
EGI
$96.9K $38.59/SF
− OpEx
−$43.6K −$17.37/SF
NOI
$53.3K $21.23/SF
Area
Costa Mesa, CA
Vacancy
4.00%
Lease Rate
$40.20 /SF/Yr
Expense Ratio
45.00%
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%
$1,066,380
Cap Rate 7%
$761,700
Cap Rate 9%
$592,433
Alternative Uses
Best Use
Apartment 5plus
$761.7K
$666.5K – $888.7K
NOI $53,319 @ 7.0% cap · market cap 2.88%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$850.8K
$744.4K – $992.6K
NOI $59,555 @ 7.0% cap · market cap 3.22%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
3,639
Businesses Nearby
Explore this area
Business Placement
Demographics for 92627, CA
61,764
Population
23,286
Households
2.7
Avg Household Size
36
Median Age
42%
College-Educated
85%
High-School Grad
6.4 sq mi
ZIP Area
9,651
Density / Sq Mi
$105,039
Median Household Income
$49,236
Median Earnings
$2,299
Median Rent
$1,074,900
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Existing improvements date to 1960, offering an established residential income asset.
Where is this residential income property located?
The property is located at 735 W 18th Costa Mesa, CA.
What is the asking price?
The asking price for this property is $1,850,000.
What are key features of this property?
This property features: Residential income property asset; Built in 1960; 735 W 18th, Costa Mesa, CA 92627
