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Baker St. Apartments 1383 Baker St 3 Unit Apartment Building $2,205,024 CAD ($735,008 CAD/Unit) 3.41% Cap Rate Costa Mesa, CA 92626
Investment Highlights
- Rental upside of 18–24% to proforma rents of $2,800–$2,950/mo across all 3 units
- 1,100 SF townhouse unit commands premium positioning at $2,950/mo proforma in tight Costa Mesa rental market
- Great Location of Costa Mesa
Executive Summary
Well-maintained triplex consisting of all 2-bedroom units with one 2x1.5 Townhome unit in a desirable Costa Mesa location. The property is in good condition with significant upside in rents, offering a new owner the opportunity to capture market-rate income through unit turnover. This two-story triplex offers private garages, on-site parking, and mature landscaping on a 6,500 SF lot. A rare opportunity to acquire a clean, all 2-bedroom triplex in one of Orange County's strongest rental submarkets.
Financial Summary (Actual - 2025) |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$119,832
|
$43.03
|
| Other Income |
-
|
-
|
| Vacancy Loss |
$3,596
|
$1.29
|
| Effective Gross Income |
$116,236
|
$41.74
|
| Taxes |
$23,103
|
$8.30
|
| Operating Expenses |
$18,628
|
$6.69
|
| Total Expenses |
$41,731
|
$14.98
|
| Net Operating Income |
$74,505
|
$26.75
|
Financial Summary (Actual - 2025)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $119,832 |
| Annual Per SF | $43.03 |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $3,596 |
| Annual Per SF | $1.29 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $116,236 |
| Annual Per SF | $41.74 |
| Taxes (CAD) | |
|---|---|
| Annual | $23,103 |
| Annual Per SF | $8.30 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $18,628 |
| Annual Per SF | $6.69 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $41,731 |
| Annual Per SF | $14.98 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $74,505 |
| Annual Per SF | $26.75 |
Property Facts
| Price | $2,205,024 CAD | Property Subtype | Apartment |
| Price Per Unit | $735,008 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.15 AC |
| Cap Rate | 3.41% | Building Size | 2,785 SF |
| Sale Condition | 1031 Exchange | Average Occupancy | 100% |
| Gross Rent Multiplier | 18.4 | No. Stories | 1 |
| No. Units | 3 | Year Built | 1960 |
| Property Type | Multifamily | Parking Ratio | 1.8/1,000 SF |
| Price | $2,205,024 CAD |
| Price Per Unit | $735,008 CAD |
| Sale Type | Investment |
| Cap Rate | 3.41% |
| Sale Condition | 1031 Exchange |
| Gross Rent Multiplier | 18.4 |
| No. Units | 3 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Building Class | C |
| Lot Size | 0.15 AC |
| Building Size | 2,785 SF |
| Average Occupancy | 100% |
| No. Stories | 1 |
| Year Built | 1960 |
| Parking Ratio | 1.8/1,000 SF |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 2 | $3,270 CAD | 825 |
| 2+1.5 | 1 | $3,445 CAD | 1,100 |
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Moderately walkable
60/100
Exceptionally drivable
90/100
Limited public transit
30/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 141-191-05 | Total Assessment | $540,816 CAD |
| Land Assessment | $375,477 CAD | Annual Taxes | $23,103 CAD ($8.30 CAD/SF) |
| Improvements Assessment | $165,339 CAD | Tax Year | 2025 |
Property Taxes
Parcel Number
141-191-05
Land Assessment
$375,477 CAD
Improvements Assessment
$165,339 CAD
Total Assessment
$540,816 CAD
Annual Taxes
$23,103 CAD ($8.30 CAD/SF)
Tax Year
2025
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Baker St. Apartments | 1383 Baker St
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