7-Unit Apartment Property with Two-Bedroom
758 W 20th Street, Costa Mesa, CA 92627
For Sale
$3,800,000
Two residential buildings combine new construction with a comprehensive renovation on one Costa Mesa parcel.
Property Size5,784 SF
Lot Size0.21 Acres
Price / SF$656.98
Days on Market12
Property Features for 758 W 20th Street
General Information
Standard status
Size
Lot size
Property subtype
Units
Unit Mix
Multifamily Units
Amenities
false
6
2
14
Assessor
9211
9
0.2115
Uncovered
5784
Building Details
Building Size
Year Built
Buildings
Stories
Listing Agency:
CB Richard Ellis, Inc.
(949) 809-3615
Listed By:
Michael O'Neill II
Source:
Lmbenterprises
Added: Oct 29
Changed: Nov 7
Last Checked: Nov 8 at 8:14PM
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 CB Richard Ellis, Inc.
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Investment Insights
Based on property information with market context.
This seven-unit apartment property brings together a newly built triplex and a renovated fourplex on one 9,211-square-foot parcel. Construction of the triplex was completed in 2026, while the fourplex has undergone extensive updates. All seven apartments have two-bedroom floorplans, averaging 826 square feet per unit; the property contains 5,784 square feet of building area.
Improvements include repiping, replacement windows, updated kitchens and bathrooms, new flooring, and exterior work. The property was originally built in 1972. Triangle Square, the 17th Street Promenade, and Newport Beach are described as minutes away.
Improvements include repiping, replacement windows, updated kitchens and bathrooms, new flooring, and exterior work. The property was originally built in 1972. Triangle Square, the 17th Street Promenade, and Newport Beach are described as minutes away.
Key Highlights
- Seven apartments across a newly constructed triplex and renovated fourplex
- All units have two‑bedroom floorplans averaging 826 square feet
- 5,784 square feet of building area on a 9,211‑square‑foot parcel
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$122,769
Cap Rate
3.23%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,455,380
$2.5M
Cap Rate 7%
$1,753,843
$1.8M
Cap Rate 9%
$1,364,100
$1.4M
Market Conditions
NOI Build-Up for 5,784 SF
Gross rent
$232.5K $40.20/SF
− Vacancy
−$9.3K −$1.61/SF
EGI
$223.2K $38.59/SF
− OpEx
−$100.4K −$17.37/SF
NOI
$122.8K $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 Rate 5%
$2,455,380
Cap Rate 7%
$1,753,843
Cap Rate 9%
$1,364,100
Alternative Uses
Best Use
Apartment 5plus
$1.75M
$1.53M – $2.05M
NOI $122,769 @ 7.0% cap · market cap 3.23%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.96M
$1.71M – $2.29M
NOI $137,128 @ 7.0% cap · market cap 3.61%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
7
Residential units
Location Intelligence
Trade Area within ½ mile
1,976
Businesses Nearby
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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
$1,074,900
Median Home Value
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Market
Average Price Trend$/SF for Apartment buildings in Orange County, CA
Properties on Market for Apartment buildings in Orange County
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - Two residential buildings combine new construction with a comprehensive renovation on one Costa Mesa parcel.
Where is this apartment building located?
The property is located at 758 W 20th Street Costa Mesa, CA.
What is the asking price?
The asking price for this property is $3,800,000.
What are key features of this property?
This property features: Seven apartments across a newly constructed triplex and renovated fourplex; All units have two‑bedroom floorplans averaging 826 square feet; 5,784 square feet of building area on a 9,211‑square‑foot parcel
