383 W Wilson Street
Costa Mesa, CA, 92627 $ 4,620,000
Bedrooms14 Baths2.0 Sq 7,920 Monthly Estimate*
$ 30,706
Listed by Marcus & Millichap RE Invest
for $4,620,000 with 14 bedrooms and 2 full baths. This 7,920 square foot home was built in 1965 on a lot size of 0.43.
383 West Wilson Street is a 12-unit multifamily investment property located in Costa Mesa, California. The property offers a mix of 10, one-bedroom units and 2, two-bedroom units. All units have undergone substantial renovations that include fresh paint, vinyl and carpet flooring, quartz countertops, appliances, bathrooms, and more. Amenities at 383 West Wilson Street include ample garage and surface parking, and an on-site laundry facility. Residents benefit from 383 West Wilson Street’s excellent Costa Mesa location, within walking distance of a plethora of major retail centers. Located just steps away from the property are Gray Plaza, anchored by At Home, and Harbor Center, anchored by Home Depot and the newly opened Mercado Gonzalez Northgate Market. Additionally, the property is situated less than one-mile from Orange Coast College (OCC) and the O.C. Fairgrounds, two major housing and economic drivers for the area. Furthermore, the property’s location, between Harbor Boulevard and State Route 55, provides residents with easy access to Costa Mesa hotspots including Triangle Square, 17th Street, and South Coast Plaza. The property benefits from its close proximity to State Routes 55 and 73, convenient access to major employment hubs including the South Coast Metro, Irvine Business District, and Newport Center. The Costa Mesa submarket is among the strongest performing areas in metro Orange County, with an average occupancy of 96.5 percent (Q4 2023) and average year-over-year effective rent growth of 8.9 percent (between 2021 to 2023), demonstrating the strong demand for rental housing. Costa Mesa’s coastal location, strong economic growth, and unmatched local attractions have made it one of Southern California’s most desirable and versatile markets. Given its Coastal Orange County location, the property offers an investor the ability to capture quality tenants seeking a convenient location with access to a wide variety of area amenities. This overall demand for well-located apartments will be a key driver in the continued growth at 383 West Wilson Street.
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FeaturesGeneralSewer PublicSewer
HOA 0.0
Garage Spaces 13.0
Pool Features None
Year Built 1965
Stories 2
Levels Two
Property SubType Apartment
Gross Income 329981.0
Community Features Curbs Gutters Sidewalks
County Orange
Net Operating Income 203816.0
Operating Expense 116910.0
Insurance Expense 8400.0
New Construction N
Property Type ResidentialIncome
HOA / Comm Assn N
Attached Garage N
Subdivision Name Other
Garage Y/N Y
Special Listing Conditions Standard
Status Active
Directions Cross Streets of West Wilson Street & Harbor Boulevard
City Costa Mesa
Entry Location First level
View Y/N N
Senior Community Y/N N
Open Parking Spaces 10.0
NumberOfUnitsTotal 12
MLS Area C2 - Southwest Costa Mesa
Lot Size Units Acres
Lot Size Square Feet 18730.8
Private Pool N
Waterfront Y/N N
Carport Y/N N
Street Name Wilson
Listing Terms Cash CashtoNewLoan Item1031Exchange
Property Attached Y/N N
Land Lease Y/N N
Electric Expense 5866.0
Home Warranty Y/N N
Fuel Expense 5866.0
Trash Expense 5865.0
Water Sewer Expense 5866.0
Lease Renewal Y/N N
Additional Parcels Y/N N
Lease Considered Y/N N
Rent Control Y/N N
Days on Market 12
Building Area Units SquareFeet
Standard Status Active
Year Built Source Assessor
Tax Lot 17
Property Sub Type Additional Apartment
Taxes 48431.0
Cap Rate 4.41
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ExteriorLot Features StreetLevel
Water Source Public
Total Parking 23.0
Lot Size Area 0.43
Number of Buildings 1
Spa N
Building Area Total 7920.0
Lot Size Acres 0.43
Lot Size Source Assessor
Number of Separate Water Meters 1
Number of Separate Gas Meters 12
Number of Separate Electric Meters 12
Crops Included Y/N N
Open Parking Y/N N
Horse Y/N N
Irrigation Water Rights Y/N N
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InteriorTotal Stories 2
Common Walls NoCommonWalls
Basement (Y/N) N
Air Conditioning Y/N N
Heating Y/N N
Fireplace Y/N N
Street Suffix Street
Laundry Features CommonArea
Entry Level 1
Electric On Property Y/N N
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* Excluded FeaturesList ByMarcus & Millichap Re InvestBroker
Affordability Calculator
- Monthly Principal & Interest
- $30,706
- Monthly Property Taxes
- --
- Monthly Home Insurance
- --
Default based on a 30-year fixed rate of 6.99% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.
Learn more about how to save NearbyMulti-family listings in Costa Mesa, CA
Average List Price $2,780,000
Percent of Sale Price 40%
About Costa Mesa, CA 114,059 Population
4% Since 2002
$ 74,468 Median Income
36.81 Median Age
27% Households with Children
Trends Information provided by ATTOM Data Solutions.
273443 Elementary School
272636 Middle School
Unknown High School High School
Pricing HistoryDate | Price | Price Change | Description |
---|
5/14/2024 | $4,620,000 | | Listed Price |