432 Hamilton St Costa Mesa, CA 92627
- Commercial real estate
- 4,522 SF
Current Use by Public Records
- Commercial real estate
Property Details for 432 Hamilton St
- Year built
- 2024
- Property size
- 4,522 SF
- Property type
- Commercial real estate
- APN
- 41917130
Description
This exceptional 5-unit apartment complex, located at 432 Hamilton St, Costa Mesa, CA 92627, presents a compelling investment opportunity. The property boasts a total of 4,522 square feet across two buildings, each two stories high, situated on an 8,800 square foot lot. Built in 2024 (with renovations completed in 2023), the complex includes two brand new 2-bedroom, 2-bathroom units, each measuring 775 square feet. The existing three-unit building underwent a comprehensive renovation, featuring new kitchen cabinets, stone countertops, appliances, fixtures, lighting, vanities, and shower enclosures. Exterior improvements include fresh paint and new windows and sliding glass doors. The three existing units comprise two 2-bedroom, 2-bathroom units and one larger 3-bedroom, 2-bathroom unit. Each unit offers a private patio or balcony, with one unit enjoying a sizable yard. All five units are equipped with new refrigerators, microwaves, and washer/dryer sets. Five off-street parking spaces are available (three standard and two tandem). The property currently enjoys 100% occupancy, generating a pro-forma NOI of $177,443 and a pro-forma cap rate of 4.73%. The asking price is $3,750,000, representing $750,000 per unit and $829.28 per square foot. The property's APN is 41917130. This turnkey investment offers a strong return in a desirable Costa Mesa location.
Value Estimation
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Costa Mesa
- County
- Orange
- State
- California
- Longitude
- -117.9176159
- Latitude
- 33.6511151
