List Price: $4.4M

Listing Status: Active

Days on Market: 0

0 Bedrooms · 0 Bathrooms

Property Type: ResidentialIncome

Year Built: 1956

Lot Size: 17,900 sq ft

Private Pool: Yes

MLS Number: OC26108339

About This Property

In coastal Orange County, location is the single greatest driver of long-term multifamily value, and Costa Mesa continues to validate that rule. Bolstered by a diverse employment base, exceptional lifestyle amenities, and enduring tenant demand, this submarket has shown remarkable resilience and consistent upward pressure on both rents and asset values. Countywide data underscores this trend: one- and two-bedroom rents have advanced steadily for over a decade, with forecasts pointing to further gains, while price-per-unit levels have historically trended upward with limited short-term fluctuations. 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.