2256-2260 Maple St 10 Unit Apartment Building $6,000,104 CAD ($600,010 CAD/Unit) 4.12% Cap Rate Costa Mesa, CA 92627

TURNKEY PROPERTY | PRIME OC COASTAL RENTAL SUBMARKET | WASHER/DRYER HOOKUPS IN ALL UNITS
In coastal Orange County, location is the single greatest driver of long-term multifamily value, and Costa Mesa continues to validate that rule. Bolstered by a diverse employment base, exceptional lifestyle amenities, and enduring tenant demand, this submarket has shown remarkable resilience and consistent upward pressure on both rents and asset values. Countywide data underscores this trend: one- and two-bedroom rents have advanced steadily for over a decade, with forecasts pointing to further gains, while price-per-unit levels have historically trended upward with limited short-term fluctuations.
Maple Street Apartments is ideally positioned to benefit from these fundamentals. Located just minutes from the Pacific Ocean, John Wayne Airport, UC Irvine, Fashion Island, Newport Bay, and the Costa Mesa Country Club, the property sits within one of Orange County’s most sought-after rental submarkets. A second image highlights the property's adjacency to major arterial corridors and an extensive retail hub anchored by Home Depot, Northgate Market, Starbucks, McDonald’s, TJ Maxx/HomeGoods, and more—an amenity cluster that significantly enhances renter appeal.
Offered at $4,400,000, the asset provides investors with an attractive combination of stability and upside, supported by a current GRM of 14.95, a current cap rate of 4.12%, and meaningful rental growth potential. Based on achievable market rents, the property projects to a pro forma GRM of 14.35 and a pro forma cap rate of 4.38%, with approximately 4.18% rent upside and 6.19% NOI upside.