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This information supplied herein is from sources we deem reliable. It is provided without any representation, warranty, or guarantee, expressed or implied as to its accuracy. Prospective Buyer or Tenant should conduct an independent investigation and verification of all matters deemed to be material, including, but not limited to, statements of income and expenses. Consult your attorney, accountant, or other professional advisor. KIDDER.COM
Cabrillo Custom Fourplex336 CABRILLO STREET, COSTA MESA, CA 92627
STEVEN C. BROMBAL
[email protected] N° 00972129
JOSHUA Y. RHEE
[email protected] N°01914094
NICHOLAS J. GOULD
[email protected] N° 01521955
FOR SALE
PRIDE OF OWNERSHIP INVESTMENT OPPORTUNITY
This information supplied herein is from sources we deem reliable. It is provided without any representation, warranty, or guarantee, expressed or implied as to its accuracy. Prospective Buyer or Tenant should conduct an independent investigation and verification of all matters deemed to be material, including, but not limited to, statements of income and expenses. Consult your attorney, accountant, or other professional advisor.
KIDDER.COM
336 CABRILLO STREET, COSTA MESA, CA 92627
FOR SALE
Cabrillo Custom Fourplex
INCOME
Current Market
Scheduled Market Rent $98,400 $125,340
Less: Vacancy (3.00%) ($2,952) ($3,760)
Net Rental Income $95,448 $121,580
Total Operating Income (EGI) $95,448 $121,580
EXPENSES
Per Unit Current Market
Administrative $88 $350 $350
Repairs & Maintenance/Turnover $1,405 $5,618 $5,618
Utilitiesi $196 $784 $784
Contracted Services $435 $1,738 $1,738
Real Estate Taxes (1.0513%) $5,506 $22,025 $22,025
Special Assessments $523 $2,092 $2,092
Insurance $839 $3,357 $1,400
Total Expenses $35,964 $34,007
% of GSI 37% 27%
Per Unit $8,991 $8,502
Per SF $9.31 $8.81
Net Operating Income $59,484 $87,573
UNIT MIX SUMMARY
Unit # Unit Type Unit SF Total SF Current Rent Market Rent Current Rent/SF Market Rent/SF
A 2 BR / 1.5 BA TH 975 975 $2,050 $2,695 $2.10 $2.76
B 2 BR / 1.5 BA TH 975 975 $2,050 $2,550 $2.10 $2.62
C 2 BR / 1.5 BA TH 975 975 $2,000 $2,550 $2.10 $2.62
D 2 BR / 1.75 BA 937 937 $2,100 $2,650 $2.24 $2.83
4 Total/Avg 966 3,862 $2,050 $2,611 $2.12 $2.70
VALUATION ANALYSIS
Price Price/Unit Price/SFCap Rate (current)
Cap Rate (market)
GRM (current)
GRM (market)
Listing Price $2,095,000 $523,750 $542.47 2.84% 4.18% 21.29 16.71
STEVEN C. BROMBAL
[email protected] N° 00972129
JOSHUA Y. RHEE
[email protected] N°01914094
NICHOLAS J. GOULD
[email protected] N° 01521955
This information supplied herein is from sources we deem reliable. It is provided without any representation, warranty, or guarantee, expressed or implied as to its accuracy. Prospective Buyer or Tenant should conduct an independent investigation and verification of all matters deemed to be material, including, but not limited to, statements of income and expenses. Consult your attorney, accountant, or other professional advisor.
KIDDER.COM
Property DescriptionRarely available custom-designed four-unit property constructed in 1987 in the coveted Eastside Costa Mesa submarket. The property is directly adjacent and a brief walk to the 17th Street retail corridor. Spanish architecture featuring massive archways, tile roofing, and spacious floorplans make this a unique and one-of-a-kind offering.
There are (3) two-bedroom, 1.5-bathroom townhouse units each with a private enclosed yard. Unit A in the front of the building has a balcony and private yard, and could command a site-specific rent. Units B and C are the other townhouse units which also feature private enclosed yards. Unit D is a two-bedroom, 1.75-bathroom floorplan featuring a separate bath with a stall shower, and is located upstairs all on one level with a balcony off the master bedroom.
All townhouse units include interior laundry hookups for a full-sized washer and dryer while unit D has interior laundry hookups for a stacked washer-dryer. There are three open parking spaces in the front of the building outlined with concrete curbing and mature landscaping. There are four tuck-under covered parking spaces with individual storage cabinets, and one open space –all at the rear of the property.
The units are individually metered for gas and electricity, and each unit has a separate hot water heater and forced-air heating. Owner utility responsibilities are minimal covering outside lights, water, and sewer. The average rent is currently $2,050 with the last rent increase effective June 2019. Pro forma market rents average $2,611 and are based upon the location and unit amenities.
Rents have been collected for April and the management company is not anticipating issues going forward based upon past employment history and historical rent collections.
336 CABRILLO STREET, COSTA MESA, CA 92627
FOR SALE
Cabrillo Custom Fourplex
STEVEN C. BROMBAL
[email protected] N° 00972129
JOSHUA Y. RHEE
[email protected] N°01914094
NICHOLAS J. GOULD
[email protected] N° 01521955
PROPERTY SUMMARY
Units 4
Parcel Number 425-013-09
Year Built 1987
Metering Individual Gas and Electric; Master Water
Parking 4 Covered, 3 Open and 1 Tandem
Total NRSF 3,862 SF
Average Unit Size 966 SF
Lot Size 7,233 SF
Type of Building Frame and Stucco
HVAC Forced Air Heat
Hot Water Individual Hot Water Heaters
Roof Pitched Tile
Building Type Two-Story, Garden-Style
This information supplied herein is from sources we deem reliable. It is provided without any representation, warranty, or guarantee, expressed or implied as to its accuracy. Prospective Buyer or Tenant should conduct an independent investigation and verification of all matters deemed to be material, including, but not limited to, statements of income and expenses. Consult your attorney, accountant, or other professional advisor.
KIDDER.COM
E 18TH ST
OR
AN
GE A
VE
336 CABRILLO STREET, COSTA MESA, CA 92627
FOR SALE
Cabrillo Custom Fourplex
STEVEN C. BROMBAL
[email protected] N° 00972129
JOSHUA Y. RHEE
[email protected] N°01914094
NICHOLAS J. GOULD
[email protected] N° 01521955
This information supplied herein is from sources we deem reliable. It is provided without any representation, warranty, or guarantee, expressed or implied as to its accuracy. Prospective Buyer or Tenant should conduct an independent investigation and verification of all matters deemed to be material, including, but not limited to, statements of income and expenses. Consult your attorney, accountant, or other professional advisor.
KIDDER.COM
E 18TH ST
OR
AN
GE A
VE
336 CABRILLO STREET, COSTA MESA, CA 92627
FOR SALE
Cabrillo Custom Fourplex
STEVEN C. BROMBAL
[email protected] N° 00972129
JOSHUA Y. RHEE
[email protected] N°01914094
NICHOLAS J. GOULD
[email protected] N° 01521955
This information supplied herein is from sources we deem reliable. It is provided without any representation, warranty, or guarantee, expressed or implied as to its accuracy. Prospective Buyer or Tenant should conduct an independent investigation and verification of all matters deemed to be material, including, but not limited to, statements of income and expenses. Consult your attorney, accountant, or other professional advisor.
KIDDER.COM
Location OverviewEncompassing over 15 miles, the city of Costa Mesa is situated along 42 miles of the Southern California coast. The city’s southernmost border is only one mile from the Pacific Ocean and is surrounded by the cities of Newport Beach, Huntington Beach, Irvine, and Santa Ana. This thriving community features upscale shopping and strong business centers, factors that continue to draw new residents to the area.
Costa Mesa’s economy is largely based on tourism, retail, sporting/recreation, healthcare, and technology. The city’s quality of life, educated workforce, and business incentives have attracted numerous companies to the area including the corporate and regional headquarters of Experian, El Pollo Loco, Hurley, and Volcom.
ROCHESTER ST
CABRILLO ST
SUBJECT PROPERTY
SUBJECT PROPERTY
NEWPORT BEACH
COSTA MESA
HUNTINGTON BEACH
IRVINE
336 CABRILLO STREET, COSTA MESA, CA 92627
FOR SALE
Cabrillo Custom Fourplex
SANTA ANA
SA
NTA
AN
A A
VE
RA
YM
ON
D A
VE
STEVEN C. BROMBAL
[email protected] N° 00972129
JOSHUA Y. RHEE
[email protected] N°01914094
NICHOLAS J. GOULD
[email protected] N° 01521955