$9,595,000
291 293 Avocado Street, Costa Mesa CA 92627
Multi-Family (24 Units)
Property type
49 days
On market
$533
Price per sqft
9 cars
Garage
1965
Year built
37,026 sqft
Lot size
Open Houses
Overview
291 - 293 Avocado Street is a 24-unit multifamily property in Costa Mesa, California. The asset consists of two 12-unit buildings situated on contiguous parcels and arranged around a shared central courtyard. Built in 1965, the gated property offers approximately 18,012 rentable square feet and features a unit mix of 20 one-bed/one-bath units and 4 two-bed/one-bath units. The...
Listing provided by: Tyler Leeson DRE #01451551 949-419-3326, Marcus & Millichap RE Invest
Listing updated: Jun 12, 2026 at 05:15pm.
Last checked: Jun 12, 2026 at 06:00pm
Source: CRMLS #OC26091598
Multi-family Analysis
Unit Information
| Units | Beds | Baths | Garage | Actual Rent | Total Rent | Pro Forma | Furnished? |
|---|---|---|---|---|---|---|---|
| 20 | 1 | 1 | — | $46,441 | $46,441 | $47,900 | Unfurnished |
| 4 | 2 | 1 | — | $12,029 | $12,029 | $12,380 | Unfurnished |
# of Buildings: 2
# of Units Total: 24
Separate Electric Meters: 24
Separate Gas Meters: 24
Separate Water Meters: 1
Rent Control: No
Financial Snapshot
Gross Rent Multiplier
13.7x
List Price / Annual Gross Rent
Cap Rate
4.66%
NOI / List Price
Gross Scheduled Income: $701,640
Vacancy Allowance: $21,049
Vacancy Allowance Rate: 3%
Operating Expense: $270,029
Net Operating Income: $447,442
Annual Operating Expenses
Electric: $13,584
Fuel: $13,584
Insurance: $24,000
Maintenance: $24,000
New Taxes: $100,530
Professional Management: $21,524
Trash: $13,584
Water / Sewer: $13,584
Interior
Laundry: Common Area
Entry Location: First Level
Exterior
Property Attached: No
Stories Total: 2
Levels: Two
Common Walls: No Common Walls
Lot Features: Street Level
Pool: None
Water Source: Public
Sewer: Public Sewer
Garage and Parking
Garage Spaces: 9
Uncovered Spaces: 21
Carport Spaces: 15
Parking Total: 45
Lot Information
Land Lease: No
Common Interest: CommunityApartment
Parcel #: 41907119
Additional Parcels: Yes
Tax Lot: 43
Community
HOA: No
HOA Fee: $0
Senior Community: No
Community Features: Curbs, Gutters, Street Lights, Sidewalks