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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    241 16th Pl Costa Mesa, CA 92627-3818

    • Apartment buildings
    • 6,504 SF
    • 0.36 lot acres
    OFF-MARKET
    Value Estimations
    $1,050,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US09-2589851
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Apartment buildings

    Property Details for 241 16th Pl

    Year built
    1976
    Lot size
    0.36 lot acres
    Property size
    6,504 SF
    Property type
    Apartment buildings
    APN
    425-201-11
    APU
    42520111

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,396,000
      Market price range: $1.40M - $4.22M

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Costa Mesa
    County
    Orange
    State
    California
    Longitude
    -117.92
    Latitude
    33.6321
    CBSA code
    31080
    CBSA name
    LOS ANGELES-LONG BEACH-ANAHEIM, CA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2024
    $8,386
    $160,153
    $276,491
    $436,644
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $990,000
      4,727 SF

      582 Joann St

      APARTMENT HOUSE (5+ UNITS) • 4,727 SF
      582 Joann St, Costa Mesa, CA 92627-2423
      View Details
    • Value Estimation
      $1,280,000
      4,620 SF

      615 Victoria St

      APARTMENT HOUSE (5+ UNITS) • 4,620 SF
      615 Victoria St, Costa Mesa, CA 92627-5833
      View Details
    • Value Estimation
      $2,895,000
      10,092 SF

      311 Wilson St

      APARTMENT HOUSE (5+ UNITS) • 10,092 SF
      311 Wilson St, Costa Mesa, CA 92627-1639
      View Details
    • Value Estimation
      $1,695,000
      10,742 SF

      2009 Maple Ave

      APARTMENT HOUSE (5+ UNITS) • 10,742 SF
      2009 Maple Ave, Costa Mesa, CA 92627-2689
      View Details
    • Value Estimation
      $1,585,000
      5,415 SF

      2002 Maple Ave

      APARTMENT HOUSE (5+ UNITS) • 5,415 SF
      2002 Maple Ave, Costa Mesa, CA 92627-5582
      View Details
    • Value Estimation
      $1,670,000
      5,628 SF

      1996 Maple Ave

      APARTMENT HOUSE (5+ UNITS) • 5,628 SF
      1996 Maple Ave, Costa Mesa, CA 92627-5577
      View Details

    Similar Nearby for Sale

    • New
      $1,900,000
      3,150 SF

      Costa Mesa Triplex with Income

      Income-generating triplex in a desirable Costa Mesa location.
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    • $1,295,000

      Costa Mesa Duplex Near Beach

      Duplex in great location near bluffs and Huntington Beach.
      2245 State Ave, Costa Mesa, CA 92627
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    • $2,199,000

      Westside Costa Mesa Triplex

      Triplex near the beach with ADU potential.
      416 Hamilton St, Costa Mesa, CA 92627
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    • $159,000

      Spacious Mobile Home in Costa Mesa

      Two-bedroom, two-bath mobile home with modern upgrades and ample parking.
      2191 Harbor Blvd, Costa Mesa, CA 92627
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    • $1,800,000

      Costa Mesa Remodeled Duplex

      Remodeled Costa Mesa duplex with two homes and detached studio.
      182 Costa Mesa St, Costa Mesa, CA 92627
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    • $1,799,000
      Pending

      Costa Mesa Duplex on Corner Lot

      Costa Mesa duplex with modern comfort and income potential.
      2097 Maple St, Costa Mesa, CA 92627
      View Details

    Similar Nearby for Lease

    • $3,400 /Mo

      Eastside Costa Mesa Cottage Duplex

      Charming two-bedroom duplex with garage in desirable Costa Mesa location.
      266 E 21St St, Costa Mesa, CA 92627
      View Details
    • $5,500 /Mo

      Renovated Home with Modern Amenities

      Completely renovated 3-bedroom, 2-bath home with modern features.
      2477 Orange Ave, Costa Mesa, CA 92627
      View Details
    • $5,000 /Mo

      Remodeled Townhome in Desirable Costa Mesa

      Remodeled townhome in a prime location near beaches and amenities.
      2435 Orange Ave, Costa Mesa, CA 92627
      View Details
    • $0.50 SF/Yr
      18,000 SF

      Secured Land with Freeway Access

      18,000 SF of secured land with excellent freeway access.
      765 W 16Th St, Costa Mesa, CA 92627
      View Details
    • Contact for pricing
      32,620 SF

      Retail Space Near Trader Joe's

      Retail space available near high-traffic intersection and Trader Joe's.
      2170 Harbor Blvd, Costa Mesa, CA 92627
      View Details
    • $2 SF/Yr
      5,980 SF

      Retail Space in Costa Mesa

      4,140 SF retail space available for lease.
      1781 Newport Blvd, Costa Mesa, CA 92627
      View Details
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    241 16th Pl
    Costa Mesa, CA 92627-3818
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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