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Harbor Mesa Luxury Apartments 2027-29 Harbor Blvd 13 Unit Apartment Building $7,251,805 CAD ($557,831 CAD/Unit) 5.21% Cap Rate Costa Mesa, CA 92627
INVESTMENT HIGHLIGHTS
- 5.21% Current Cap Rate
- Studio, One-, Two-Bedroom Units, Select Units Have Single-Story Construction
- In-Place RUBS, Community Laundry Room
- Turnkey Property Includes a Street-Front Retail Building & (12) Multifamily Units
- Over $1.2M in Recent Capital Improvements
- Strong Costa Mesa Location (Walk Score: 85)
EXECUTIVE SUMMARY
Harbor Mesa Luxury Apartments is a mixed-use property that consists of street-front retail building and 12 apartment units located at 2027-2029 Harbor Boulevard, Costa Mesa. The property offers investors the highest current cap rate in the city of Costa Mesa at 5.21%. Harbor Mesa Luxury Apartments offers a range of unit options for potential tenants including studio, one- and two-bedroom floorplans. The asset has recently undergone renovations with ownership spending over $1,200,000 in recent renovations including major systems, interior and exterior updates.
PROPERTY FACTS
| Price | $7,251,805 CAD | Apartment Style | Garden |
| Price Per Unit | $557,831 CAD | Building Class | B |
| Sale Type | Investment | Lot Size | 0.40 AC |
| Cap Rate | 5.21% | Building Size | 7,490 SF |
| Gross Rent Multiplier | 12.97 | No. Stories | 2 |
| No. Units | 13 | Year Built | 1949 |
| Property Type | Multifamily | Parking Ratio | 1.6/1,000 SF |
| Property Subtype | Apartment | ||
| Zoning | C2 - General Business | ||
| Price | $7,251,805 CAD |
| Price Per Unit | $557,831 CAD |
| Sale Type | Investment |
| Cap Rate | 5.21% |
| Gross Rent Multiplier | 12.97 |
| No. Units | 13 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | B |
| Lot Size | 0.40 AC |
| Building Size | 7,490 SF |
| No. Stories | 2 |
| Year Built | 1949 |
| Parking Ratio | 1.6/1,000 SF |
| Zoning | C2 - General Business |
AMENITIES
SITE AMENITIES
- Laundry Facilities
- Storage Space
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| Studios | 8 | $2,966 CAD | 430 |
| 1+1 | 2 | $3,141 CAD | 418 |
| 2+1 | 2 | $3,909 CAD | 638 |
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Walk Score®
Very Walkable (85)
Bike Score®
Very Bikeable (74)
PROPERTY TAXES
| Parcel Number | 422-091-21 | Improvements Assessment | $682,341 CAD |
| Land Assessment | $4,177,188 CAD | Total Assessment | $4,859,529 CAD |
PROPERTY TAXES
Parcel Number
422-091-21
Land Assessment
$4,177,188 CAD
Improvements Assessment
$682,341 CAD
Total Assessment
$4,859,529 CAD
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Harbor Mesa Luxury Apartments | 2027-29 Harbor Blvd
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