0.41 Acres Lot
0.41 Acres Lot
Key Details
Property Type Apartment
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
Subdivision Westside Costa Mesa South (Wscm)
MLS Listing ID OC26108339
Construction Status Updated/Remodeled
HOA Y/N No
Year Built 1956
Tax Year 2026
Lot Size 0.411 Acres
Property Sub-Type Apartment
Property Description
Maple Street Apartments is ideally positioned to benefit from these fundamentals. Located just minutes from the Pacific Ocean, John Wayne Airport, UC Irvine, Fashion Island, Newport Bay, and the Costa Mesa Country Club, the property sits within one of Orange County's most sought-after rental submarkets. A second image highlights the property's adjacency to major arterial corridors and an extensive retail hub anchored by Home Depot, Northgate Market, Starbucks, McDonald's, TJ Maxx/HomeGoods, and more—an amenity cluster that significantly enhances renter appeal.
Offered at $4,400,000, the asset provides investors with an attractive combination of stability and upside, supported by a current GRM of 14.95, a current cap rate of 4.12%, and meaningful rental growth potential. Based on achievable market rents, the property projects to a pro forma GRM of 14.35 and a pro forma cap rate of 4.38%, with approximately 4.18% rent upside and 6.19% NOI upside.
The building itself is a recently renovated, turnkey 10-unit asset featuring a highly desirable unit mix of 80% two-bedroom units and 20% one-bedroom units. All units are equipped with washer/dryer hookups, air conditioning, individual hot water heaters, and vinyl-framed windows, with all interiors offering wood-panel vaulted ceilings. These features materially elevate tenant retention and narrow the competitive set within the immediate submarket.
In a market defined by tight supply, durable rent growth, and long-term value appreciation, Maple Street Apartments stands out as a well-located, well-amenitized coastal asset with immediate operational upside and strong positioning for the next growth cycle.
Location
State CA
County Orange
Area C2 - Southwest Costa Mesa
Interior
Interior Features High Ceilings
Cooling Wall/Window Unit(s)
Flooring Vinyl
Fireplaces Type Electric, Gas, Kitchen, Living Room, Primary Bedroom
Fireplace Yes
Appliance Built-In Range, Dishwasher, Electric Oven, Gas Range, Gas Water Heater, Water Heater
Laundry Washer Hookup
Exterior
Parking Features Assigned
Fence None
Pool None
Community Features Suburban
View Y/N Yes
View Neighborhood
Roof Type Composition
Total Parking Spaces 16
Private Pool No
Building
Lot Description 21-25 Units/Acre, Sprinklers In Front, Level, Rectangular Lot, Sprinklers On Side
Story 2
Foundation Slab
Sewer Public Sewer
New Construction No
Construction Status Updated/Remodeled
Others
Senior Community No
Tax ID 42216205
Energy Description 59.0
Acceptable Financing Cash, Cash to New Loan
Listing Terms Cash, Cash to New Loan
Special Listing Condition Standard
Virtual Tour https://vimeo.com/manage/videos/1190215730
