Four-Unit Multifamily
New
For Sale
$1,725,000
741 W 18th, Costa Mesa, CA 92627
The property combines varied residence sizes with private outdoor areas and garage and carport parking.
Property Size2,512 SF
Lot Size0.14 Acres
Price / SF$686.70
Days on Market4
Property Features for 741 W 18th
General Information
Standard status
Active
Size
2,512 SF
Lot size
0.14 Acres
Property subtype
Quadruplex
Units
Unit Mix
2 x 2BR/1BA, 2 x 1BR/1BA
Multifamily Units
4
Additional Details
Highway Access
Yes
Amenities
private outdoor space
Building Details
Building Size
2,512 SF
Year Built
1960
Listing Agency:
Keller Williams Legacy
Listed By:
Brian Fox · License #01431326
Source:
Stephanieyounggroup
Added: Aug 11
Changed: Aug 14
Last Checked: Aug 14 at 3:36AM
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 Legacy
Investment Insights
Based on property information with market context.
This 1960-built multifamily property contains approximately 2,512 square feet on an approximately 6,120-square-foot lot. The unit mix includes two 2-bedroom/1-bath residences and two 1-bedroom/1-bath residences, with each residence providing private outdoor space. Parking is provided through a combination of garage and carport spaces.
The property is located in Westside Costa Mesa at 741 W. 18th Street. Triangle Square, Costa Mesa Courtyards, restaurants, shopping, entertainment, and everyday services are identified nearby. The site also offers access to Pacific Coast Highway and is minutes from area beaches and the coastal communities of Newport Beach and Huntington Beach.
The property is located in Westside Costa Mesa at 741 W. 18th Street. Triangle Square, Costa Mesa Courtyards, restaurants, shopping, entertainment, and everyday services are identified nearby. The site also offers access to Pacific Coast Highway and is minutes from area beaches and the coastal communities of Newport Beach and Huntington Beach.
Key Highlights
- Approximately 2,512 square feet on an approximately 6,120‑square‑foot lot
- Four residences: two 2‑bedroom/1‑bath units and two 1‑bedroom/1‑bath units
- Private outdoor space provided for each residence
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
$57,431
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
3.33%
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%
$1,148,620
$1.1M
Cap Rate 7%
$820,443
$820.4K
Cap Rate 9%
$638,122
$638.1K
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
$85.9K $34.20/SF
− Vacancy
−$3.9K −$1.54/SF
EGI
$82.0K $32.66/SF
− OpEx
−$24.6K −$9.80/SF
NOI
$57.4K $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%
$1,148,620
Cap Rate 7%
$820,443
Cap Rate 9%
$638,122
Alternative Uses
Best Use
Multifamily LT 5
$820.4K
$717.9K – $957.2K
NOI $57,431 @ 7.0% cap · market cap 3.33%
Second Best
Apartment 5plus
$761.7K
$666.5K – $888.7K
NOI $53,319 @ 7.0% cap · market cap 3.09%
Theoretical Best
Office A
$850.8K
$744.4K – $992.6K
NOI $59,555 @ 7.0% cap · market cap 3.45%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Yes
Highway access
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
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - The property combines varied residence sizes with private outdoor areas and garage and carport parking.
Where is this quadplex located?
The property is located at 741 W 18th Costa Mesa, CA.
What is the asking price?
The asking price for this property is $1,725,000.
What are key features of this property?
This property features: Approximately 2,512 square feet on an approximately 6,120‑square‑foot lot; Four residences: two 2‑bedroom/1‑bath units and two 1‑bedroom/1‑bath units; Private outdoor space provided for each residence
