Apartment Building with
New
For Sale
$3,300,000
988 El Camino, Costa Mesa, CA 92626
Costa Mesa, CA
Property Size5,267 SF
Lot Size0.15 Acres
Price / SF$626.54
Days on Market2
Property Features for 988 El Camino
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
R-3
Bedrooms
12
Bathrooms
10
Full bathrooms
10
Rooms
Bedroom 10, Bedroom 2, Bedroom 9, Bathroom 5, Bedroom 5, Bedroom 7, Kitchen, Bathroom 7, Laundry Room, Bedroom 12, Bedroom 11, Bedroom 8, Bathroom 4, Bedroom 4, Bathroom 3, Bedroom 1, Bathroom 8, Bathroom 9, Bathroom 6, Bathroom 1, Bathroom 2, Bedroom 3, Bathroom 10, Bedroom 6
Parking
4
Parking features
Garage, Assigned
Window features
Blinds, Screens
Interior features
Granite Counters
Fencing
Privacy
Appliances
Convection Oven, Disposal, Microwave, Dishwasher
Subdivision
Other (OTHR)
Lot features
Rectangular Lot, 21-25 Units/ Acre
Directions
Adams and Fairview
Standard status
Active
APN
14166431
Lot size
0.15 Acres
Utilities
Sewer type
Public Sewer
Heating system
Central, Ductless (Heating)
Cooling system
Window Unit(s), Wall/Window Unit(s)
Water source
Public
Building Details
Year built
1964
Floors in Building
2
Number of units
6
Flooring type
Vinyl
Building materials
Frame, Glass
Roof type
Shingle
Architectural style
Modern
Listing Agency:
Seven Gables Real Estate
(714) 500-3300
Listed By:
John Allen · License #01939546
(714) 651-9706
Added: Oct 27
Last Checked: Oct 28 at 8:06AM
MLS# OC26230822
Copyright © 2026 California Regional Multiple Listing Service, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This R-3-zoned apartment property contains six residences across 5,267 square feet on a 0.1542-acre lot. Built in 1964, it began as a four-unit building and now includes two accessory dwelling units completed in 2026. The unit mix spans studio, one-, two-, and three-bedroom layouts. Interior features include granite counters, vinyl flooring, and a mix of central and ductless heating. Parking includes garage and assigned spaces.
The property is in Costa Mesa, near South Coast Plaza, The Camp, and major transportation corridors.
The property is in Costa Mesa, near South Coast Plaza, The Camp, and major transportation corridors.
Key Highlights
- Six residential units totaling 5,267 SF
- Two accessory dwelling units completed in 2026
- Studio, one-, two-, and three‑bedroom layouts
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.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
6
Residential units
Location Intelligence
Trade Area within ½ mile
1,774
Businesses Nearby
Explore this area
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - Studio through three-bedroom residences include 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 residential units totaling 5,267 SF; Two accessory dwelling units completed in 2026; Studio, one-, two-, and three‑bedroom layouts
