383 Wilson Street, Costa Mesa, CA 92627
  • MLS#: OC24096600 ( Apartment )
  • Street Address: 383 Wilson Street
  • Viewed: 1
  • Price: $4,620,000
  • Price sqft: $0
  • Waterfront: No
  • Year Built: 1965
  • Bldg sqft: 0
  • Days On Market: 186
  • Additional Information
  • County: ORANGE
  • City: Costa Mesa
  • Zipcode: 92627
  • Subdivision: Other (othr)
  • Provided by: Marcus & Millichap RE Invest
  • Contact: Tyler Tyler
  • California Regional MLS IDX
  • DMCA Notice
  • Description
    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 Streets 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 propertys 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 Mesas coastal location, strong economic growth, and unmatched local attractions have made it one of Southern Californias 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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Features
Association Fee
  1. 0.00
Building Area Total
  1. 7920.00
Commoninterest
  1. Community Apartment
Common Walls
  1. No Common Walls
Country
  1. US
Days On Market
  1. 157
Electric Expense
  1. 5866.00
Entry Location
  1. First level
Fuel Expense
  1. 5866.00
Garage Spaces
  1. 13.00
Insurance Expense
  1. 8400.00
Laundry Features
  1. Community
Levels
  1. Two
Lot Features
  1. Level with Street
Netoperatingincome
  1. 203816.00
Newtaxesexpense
  1. 48431.00
Number Of Separate Electric Meters
  1. 12
Number Of Separate Gas Meters
  1. 12
Otherexpense
  1. 28216.00
Otherexpensedescription
  1. Misc
Otherincome1
  1. 21482.00
Otherincomedescription
  1. Misc
Parcel Number
  1. 41903204
Pool Features
  1. None
Postalcodeplus4
  1. 1635
Professionalmanagementexpense
  1. 0.00
Property Type
  1. Apartment
Sewer
  1. Public Sewer
Sourcesystemid
  1. CRM
Sourcesystemkey
  1. 414680024:CRM
Subdivision Name Other
  1. Other
Totalexpenses
  1. 116910.00
Trash Expense
  1. 5865.00
Uncovered Spaces
  1. 10.00
Vacancyallowance
  1. 9255
Water Sewer Expense
  1. 5866.00
Water Source
  1. Public
Year Built
  1. 1965
Year Built Source
  1. Assessor