6-Unit Apartment
New
For Sale
$3,300,000
988 El Camino, Costa Mesa, CA 92626
Updated interiors and a varied studio-to-three-bedroom mix accompany two accessory dwelling units.
Property Size5,267 SF
Price / SF$626.54
Days on Market3
Property Features for 988 El Camino
General Information
Standard status
Active
Size
5,267 SF
Property subtype
Investment
Additional Details
Multifamily Units
6
Building Details
Building Size
5,267 SF
Year Built
1964
Stories
2
Units
6
Listing Agency:
Seven Gables Real Estate (714-651-9706), Brendon Guichet of Uncharted
Listed By:
John Allen · License #01939546
(714) 500-3300
Source:
Elliman
Added: Oct 28
Last Checked: Oct 28 at 3:49PM
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 (714-651-9706), Brendon Guichet of Uncharted
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Investment Insights
Based on property information with market context.
This six-unit apartment property in Costa Mesa contains 5,267 square feet. Built in 1964 as a fourplex, it was expanded with two accessory dwelling units completed in 2026. The unit mix includes studio, one-, two-, and three-bedroom layouts, with updated interiors and durable finishes. The property has undergone extensive renovation work.
The address is 988 El Camino, near South Coast Plaza and The Camp, with access to major transportation corridors. WalkScore is 73, BikeScore is 69, and TransitScore is 43. The building combines its original multifamily configuration with the two newer ADUs and a range of apartment sizes.
The address is 988 El Camino, near South Coast Plaza and The Camp, with access to major transportation corridors. WalkScore is 73, BikeScore is 69, and TransitScore is 43. The building combines its original multifamily configuration with the two newer ADUs and a range of apartment sizes.
Key Highlights
- Six apartment units across 5,267 SF
- Unit mix includes studio, one-, two-, and three‑bedroom layouts
- Two ADUs completed in 2026
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$111,795
Cap Rate
3.39%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,235,900
$2.2M
Cap Rate 7%
$1,597,071
$1.6M
Cap Rate 9%
$1,242,167
$1.2M
Market Conditions
NOI Build-Up for 5,267 SF
Gross rent
$211.7K $40.20/SF
− Vacancy
−$8.5K −$1.61/SF
EGI
$203.3K $38.59/SF
− OpEx
−$91.5K −$17.37/SF
NOI
$111.8K $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%
$2,235,900
Cap Rate 7%
$1,597,071
Cap Rate 9%
$1,242,167
Alternative Uses
Best Use
Apartment 5plus
$1.60M
$1.40M – $1.86M
NOI $111,795 @ 7.0% cap · market cap 3.39%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.78M
$1.56M – $2.08M
NOI $124,871 @ 7.0% cap · market cap 3.78%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
Who owns this building?
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Open Analytics
Lease Details
6
Residential units
Location Intelligence
Trade Area within ½ mile
1,660
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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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - Updated interiors and a varied studio-to-three-bedroom mix accompany two accessory dwelling units.
Where is this apartment building located?
The property is located at 988 El Camino Costa Mesa, CA.
What is the asking price?
The asking price for this property is $3,300,000.
What are key features of this property?
This property features: Six apartment units across 5,267 SF; Unit mix includes studio, one-, two-, and three‑bedroom layouts; Two ADUs completed in 2026
