Victoria Street Apartments — Sale in Costa Mesa, CA

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Multifamily Property
  • Location: Costa Mesa, CA 92627

Investment Figures

Cap rate
4.42%

Derived from the asking price and operating figures published for this listing. Informational only — not an appraisal, valuation or financial advice. Verify independently before relying on any figure.

Description

The Victoria Street Apartments presents a rare opportunity to acquire a well located, four-unit multifamily investment in the highly desirable, supply constrained submarket of Costa Mesa within Greater Orange County. Constructed in 1961, the property features a low-density and highly attractive unit mix consisting of (2) spacious, single-story three-bedroom/two-bath units and (2) studios totaling approximately 3,449 square feet. The asset sits on an expansive 13,047 square foot lot, offering strong intrinsic land value and future operational flexibility, including potential ADU opportunities. The property provides a compelling resident experience with desirable amenities, such as ample on-site parking with covered carports, private patios, and balconies - features that enhance tenant appeal and support strong occupancy fundamentals. Select units have undergone recent upgrades and renovations, further strengthening the asset’s competitive positioning. Strategically located near Costa Mesa’s premier retail, dining, and entertainment corridors - and just minutes from Huntington Beach - the property benefits from close proximity to The Triangle Square, the OC Fair & Event Center, the 17th Street Promenade, and Talbert Regional Park. This prime location, combined with the asset’s favorable unit composition and land-to-building ratio, positions the Victoria Street Apartments as a high-quality investment opportunity offering durable demand drivers, rental upside, and meaningful long-term appreciation potential. Investment Highlights: • Premier Coast Mesa Location & Close Proximity To Major Lifestyle Destinations Including The Triangle Square, OC Fair & Event Center, 17th Street Promenade, and Talbert Regional Park • Attractive Unit Mix: (2) Single-Story 3 Bed/ 2 Bath Units & (2) Studio Units • Recent Unit Upgrades & Renovations • Strong Rental Upside Potential • Expansive Lot With Potential ADU Opportunity • Ample On-Site Parking With Covered Carports • Private Patios & B

Market Context

This multifamily in Costa Mesa, CA is listed for sale. It is offered at an approximate 4.4% capitalization rate, a key benchmark for income-producing multifamily assets. It has been on the market for 100 days. Compare it against other multifamily listings for sale in Costa Mesa, CA — view the full market.

As of Q1 2026, the Orange County multifamily market showed average asking rents near $2081.00/unit/mo, rents up 0.6% year over year, and cap rates around 5.4%. Source: multiple brokerage reports, Q1 2026.

Its 4.4% asking cap rate is below the Orange County multifamily market average of about 5.4%, reflecting premium pricing relative to comparable assets. Rising rents point to a competitive market where well-priced, well-located assets trade quickly.

Multifamily market FAQ

What is the typical cap rate for multifamily in Orange County?
About 5.4% as of Q1 2026, per multiple brokerage reports.

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