764 W 18th Street, Costa Mesa, CA 92627

$2,080,000

Don't miss this rare opportunity to own a Pride Covington Triplex in a prime Costa Mesa location, offering excellent income potential with long-term, reliable tenants already in place. This property is perfect for savvy investors looking for a turnkey rental with steady cash flow and major capital improvements already completed.… Read More The triplex comprises three spacious units, each thoughtfully designed for comfort and functionality. Property features a brand new high-quality flat roof (2024), recently replaced with a $34,000 roofing system, including an engineered roofing plan and city permit. The roof comes with a 25+ year guarantee, providing long-term durability and peace of mind. Each unit features a recently replaced furnace, ensuring efficient heating and added value for tenants. Unit #1 has a completely remodeled kitchen with modern finishes and updated appliances. All units have new toilets and vanity sinks, enhancing comfort and functionality. Select rooms across all three units have updated flooring, creating a refreshed and inviting atmosphere with aesthetics and livability. This property also has ample parking which includes a 4-car garage plus 6 additional off-street parking spaces, offering convenience and value for tenants. The property reflects pride of ownership with thoughtful upgrades and ongoing care. Investments highlights includes: All units are fully occupied by excellent long-term tenants, providing steady and dependable rental income. Located in the highly desirable city of Costa Mesa—just minutes from the beach, shopping centers, dining, and major freeways—making it a top choice for renters. With most systems recently upgraded, this property is a low-maintenance, high-return investment. Also, all units are currently under rented, providing significant upside potential for increased rental income over time. The property has very low vacancy rate due to the fact that it is located in a highly sought-after rental area and is consistently in high demand. With Costa Mesa's strong rental market and the property's proven track record of occupancy, this triplex represents a great investment with significant income potential. Whether you're a seasoned investor or exploring your first multi-family property, this offering aligns with strategic investment goals. Don't miss out on this rare chance to acquire a high-performing asset in one of Costa Mesa's sought-after communities. Read Less

Listing Snapshot

Days Online

Last Updated

Apr 1, 2025

Property Type

Quadruplex

Lot Size

0.14 Acres

Year Built

1970

MLS Number

OC25064656

30 Days Snapshot Of 92627

$1,723k

+3%

(avg) sold price

+33%

homes sold

+35%

(avg) days on market

Snapshot

Area Map

Additional Details

Property Access

Road frontage type: CityStreet, Road surface type: Paved

Building

Built in 1970, Building area total: 4,131, Levels: Two, 2 stories, 1 building, Common walls: NoCommonWalls, Construction materials: Drywall, Stucco

Community

StormDrains, StreetLights, Suburban, Sidewalks

Doors

SlidingDoors

Expenses

Gardener expense: $600, Insurance expense: $3,425, Licenses expense: $65, Maintenance expense: $1,000, New taxes expense: $21,840, Operating expense: $29,974, Trash expense: $1,522, Water sewer expense: $1,522

Fireplaces

LivingRoom

Floors

Laminate, Tile

Garage

4 spaces

Heating

Central, Fireplaces

Income

Gross income: $86,400, Net operating income: $56,426

Laundry

WasherHookup, GasDryerHookup

Lot

0.14 acres, 6,098 square feet, Size: 6,098, Level, Paved, RectangularLot, StreetLevel

Parking

4 totals parking, DoorSingle, Driveway, GarageFacesFront, Garage, Paved

Pool

None

Roof

SpanishTile

Security Features

FireDetectionSystem, SmokeDetectors

Sewer

PublicSewer

Spa

None

Tenant Pays

Electricity, Gas

Utilities

ElectricityOnProperty, Standard, CableAvailable, ElectricityAvailable, NaturalGasAvailable, PhoneAvailable, SewerAvailable, WaterAvailable

Windows

Blinds, Drapes

Find The Perfect Home

'VIP' Listing Search

Whenever a listing hits the market that matches your criteria you will be immediately notified.

Join The List

Mortgage Calculator

Selling price

Down payment

Term (years)

Interest rate (%)

Monthly Payment

764 W 18th Street

'VIP' Listing Search

Schools In The Area

You Might Also Like

'VIP' Property Search

1. Neighborhoods

2. Home Type

3. Send

Sitemap

Get in touch