Costa Mesa Multifamily Properties for Sale

Strategic Investment Opportunities in a High-Demand Rental Market

The House Hacking Advantage in Costa Mesa

As a Mesa Verde resident and local broker, I have watched Costa Mesa become the gold standard for residential income property in Orange County. Owner-occupied investors can use FHA financing on properties up to 4 units, allowing low down payment acquisition of high-density assets on the Westside and throughout the city. FHA loan limits for 4-unit properties in Orange County are updated annually. Contact us for the current figure before running your numbers.

Costa Mesa 4-plex residential income property for sale

Residential income property in the Costa Mesa market

Costa Mesa's rental market is anchored by Orange Coast College, Vanguard University, the 17th Street corridor, and South Coast Plaza area employment, ensuring low vacancy rates and consistent demand. Whether you are executing a 1031 Exchange or sourcing a value-add duplex with ADU potential, understanding local zoning and California rent law nuances is where our expertise becomes your competitive advantage.

Want to discuss cap rates, zoning, or off-market opportunities in Costa Mesa? Call or text me directly: 949-430-7500

Build Your Costa Mesa Portfolio

Multifamily inventory in Costa Mesa is often sold via pocket listings before ever hitting the MLS. Off-market access is the difference between finding a deal and watching someone else close it.

Costa Mesa Multifamily Investment FAQ

Is Costa Mesa a good market for multifamily investment?

Yes. Costa Mesa has structural rental demand drivers that make it one of the most reliable multifamily markets in Orange County. Orange Coast College, Vanguard University, the 17th Street corridor, and proximity to Newport Beach employers keep vacancy rates low and rental demand consistent. The Westside has a high concentration of older multifamily stock that attracts value-add investors, while the Eastside commands premium rents due to Newport Beach proximity and school district access.

What is house hacking and how does it work in Costa Mesa?

House hacking is the strategy of purchasing a multifamily property, living in one unit, and renting the others to offset your mortgage. In Costa Mesa, fourplexes are the most common house hacking vehicle because they qualify for owner-occupied FHA financing, which allows lower down payments than conventional investment loans. The rental income from the other three units can significantly reduce or eliminate the owner's housing cost. FHA loan limits for 4-unit properties in Orange County are updated annually. Contact us for the current figure before running your numbers.

Does Costa Mesa have rent control?

Costa Mesa does not have local rent control, but California's AB 1482 statewide rent cap applies to most multifamily properties that are more than 15 years old and not single-family homes or condos. AB 1482 limits annual rent increases to 5% plus local CPI, with a maximum of 10%. Properties built within the last 15 years are exempt. Buyers should review current AB 1482 applicability for any specific property with a real estate attorney before closing, as the rules have nuance around exemptions and just cause eviction requirements.

Are Costa Mesa multifamily properties good for a 1031 exchange?

Yes, particularly for investors exchanging out of properties in higher-appreciation markets who want to redeploy into stable cash-flowing assets. Costa Mesa multifamily offers a combination of strong rental demand, below-replacement-cost pricing on older stock, and ADU upside that makes it an attractive 1031 destination. The key is identifying properties with genuine value-add potential rather than paying a premium for cap rate compression that has already occurred. Working with an agent who has off-market access is essential in this segment, as the best opportunities rarely hit the public MLS.

Costa Mesa Investment Property

$1,650,000
OC26159419 MLS ⋅ Active Status
Exceptional Costa Mesa Triplex Investment Opportunity Rarely does a property like this become available in one of Costa Mesa's most desirable rental neighborhoods. Situated on a prime corner lot at 3045 Coolidge Avenue, this well-positioned triplex offers an outstanding investment opportunity featuring three spacious 2-bedroom, 1 and 2 bath units, each with generously sized floor plans that consistently appeal to long-term tenants. The property's corner location provides an attractive residential setting, bordered by established single-family homes on one side and multifamily residences on the other—creating the perfect balance of neighborhood charm and strong rental demand. The building offers excellent curb appeal, abundant natural light, and a layout that tenants love. Location is everything, and this property delivers. Residents enjoy walking distance to Paularino Elementary School, nearby parks, neighborhood shopping, restaurants, and everyday conveniences. The property is just minutes from South Coast Plaza, Segerstrom Center for the Arts, Orange Coast College, John Wayne Airport, and the world-famous beaches of Newport Beach and Huntington Beach. Easy access to the 55, 405, and 73 Freeways makes commuting throughout Orange County exceptionally convenient. Costa Mesa continues to be one of Orange County's strongest rental markets, driven by its central location, vibrant employment base, highly desirable coastal lifestyle, and proximity to major business centers. The city boasts more than 80,000 jobs, a thriving economy, outstanding dining and entertainment, and one of Southern California's most sought-after lifestyles—making quality rental housing consistently attractive to tenants. -Three large 2-bedroom units -Prime corner location -Excellent tenant appeal -Walking distance to schools -Strong rental demand -Close to beaches, shopping, employment centers, and freeways -Located in one of Orange County's most desirable investment markets Investment opportunities in this location are increasingly difficult to find. This is your chance to own a quality income-producing asset in the heart of Costa Mesa—where strong fundamentals, exceptional location, and long-term appreciation potential come together to create an outstanding real estate investment. A true turnkey addition to any investment portfolio .

3045 Coolidge, Costa Mesa
$2,150,000
OC26152871 MLS ⋅ Active Status
2976 Royal Palm Drive, Costa Mesa, CA 92626 presents a compelling investment opportunity in one of the area’s most desirable rental markets. This fully occupied 4-plex generates income from day one, with all four units currently rented and strong tenant demand supporting long-term stability. The property features four spacious 2-bedroom, 1-bath units, each with desirable amenities that help attract and retain quality tenants. Located in the highly sought-after Mesa Verde area, it offers the kind of location advantage that typically supports consistent occupancy and future rent growth. Priced at $2,150,000, this asset is well-positioned for investors seeking reliable cash flow, potential appreciation, and a strong long-term hold in a proven Costa Mesa neighborhood. With immediate rental income already in place, this is the type of property that can deliver both current returns and future upside.

2976 Royal Palm, Costa Mesa
$3,495,000
OC26134197 MLS ⋅ Active Status
Exceptional investment opportunity in the heart of Costa Mesa. Located in the beautiful Westside area, 681 Victoria offers a diamond in the rough 7 unit, multifamily property with great possibilities and convenient access to beaches, shopping, dining, and major transportation routes. The property features a variety of unit types, functional layouts, and some private outdoor space, providing long-term appeal for both tenants and investors. Situated on a generous lot in an established residential neighborhood, this asset presents the possibility for stable cash flow with potential for future upside. Residents enjoy close proximity to Newport Beach, 17th Street, Triangle Square, Pacific Coast Highway, and the 55 Freeway. Whether expanding an investment portfolio or acquiring a quality income-producing property in a high-demand coastal market, this property represents a compelling opportunity in one of Orange County’s most sought-after rental locations. Four two story units with 2 bedrooms and 1.5 baths, one upstairs unit with 1 bedroom and 1 bath, 1 single level unit with 2 bedrooms and 1 bath and one single level unit with 3 bedrooms (per appraiser) and 1 bath. There is laundry hook-up for each unit and lots of parking. There are also two single garages. Financial information provided upon request. Any and all information on the MLS is deemed to be reliable but is not guaranteed. Buyer to satisfy self with due diligence and appropriate inspections.

681 Victoria, Costa Mesa
$3,900,000
NP26128800 MLS ⋅ Active Status
Exceptional opportunity to acquire two adjacent fourplexes (136 & 132 E. Bay St.) being offered together as one premier 8-unit multifamily investment in the highly sought-after Eastside Costa Mesa market. Properties of this size and quality rarely become available in one of Orange County's most desirable rental locations. Together, the properties feature eight well-designed units consisting of four 2-bedroom, 1-bath residences and four comfortable 1-bedroom, 1-bath residences, offering an ideal mix that appeals to a broad tenant base. Each property provides a garage space, additional uncovered parking to be allocated, on-site laundry, the lower units feature outdoor living areas, creating a desirable living environment for residents while minimizing vacancy. The buildings are up to code and have verified SB721 inspection reports for the stairs and patios. Ideally located just minutes from Newport Beach, Triangle Square, the Back Bay, the 55 Freeway, John Wayne Airport, and the area's premier shopping, dining, and entertainment, the properties enjoy strong rental demand driven by their exceptional coastal location. Whether you're seeking stable cash flow with long-term appreciation potential or an opportunity to enhance value through strategic renovations, rental increases and possible ADU additions above the garages this offering delivers exceptional flexibility. The combined eight-unit configuration provides operational efficiencies while maintaining the appeal of smaller residential properties.

136 E Bay, Costa Mesa
$3,490,000
OC26116869 MLS ⋅ Active Status
Rare pride-of-ownership 5-unit investment opportunity located in highly desirable Eastside Costa Mesa. Offered for sale for the first time in approximately 27 years, this well-maintained asset occupies an expansive approximately 15,746 square foot lot and features a unique low-density cottage-style layout with lots of attractive features and benefits. Improvements include a freestanding 2-bedroom, 1-bath residence positioned at the front of the property, along with four additional units located within two separate residential buildings at the rear. Unit mix consists of two 1-bedroom units and two 2-bedroom units. A defining characteristic of the offering is its abundance of private outdoor space. The front residence enjoys a large enclosed front yard with white picket vinyl fence and private rear yard, while each remaining unit benefits from its own yard, patio, or outdoor living area. This residential environment has contributed to strong tenant retention and consistent rental demand over many years. Residents enjoy amenities seldom found in comparable investment properties, including six enclosed garages, five equipped with automatic openers, in-unit washer and dryer hookups, and off-street parking for approximately eight vehicles. One garage is currently leased separately, generating additional monthly income. Generous parking, private outdoor areas, and thoughtful site design further enhance long-term resident appeal. From an operational standpoint, ownership benefits from a favorable utility structure. Gas and electricity are separately metered with no house gas or electric meters, helping reduce operating costs. Each residence is equipped with its own water heater, with residents responsible for individual gas consumption. Operating expenses remain straightforward and consist primarily of water, trash service, property taxes, insurance, landscaping, and professional management. Eastside Costa Mesa continues to rank among Orange County's most desirable rental markets, driven by its proximity to Newport Beach, major employment centers, premier shopping, dining, and coastal recreation. Convenient access to Newport Boulevard and the 55 Freeway further strengthens location appeal. This offering presents a rare opportunity to acquire a quality multifamily investment in one of Southern California's most sought-after rental submarkets.

131 E 21st Street, Costa Mesa
$1,395,000
PW26120647 MLS ⋅ Active Status
This is a great opportunity to own a duplex in Costa Mesa. This duplex features 2 bedrooms and 1 bathroom in each unit, ideal for an investor looking to build their portfolio or a buyer looking to offset their mortgage with rental income. Centrally located with easy access to shopping, dining, freeways, and everything Costa Mesa has to offer. With some personal touches, this property has real potential.

753 Scott Place, Costa Mesa
$4,000,000
14 Beds ⋅ 6 Baths ⋅ 26841411 MLS ⋅ Active Status
Unique 7-unit turnkey offering in Westside Costa Mesa combining a newly constructed triplex (2026) and a fully renovated fourplex on a single 9,211 SF parcel. 100% two-bedroom floorplans with an average unit size of 826 SF. Over $1,200,000 invested in renovations including full repipe, new flooring, updated kitchens and baths, new windows, and exterior improvements. No deferred maintenance. Minutes from Triangle Square, the 17th Street Promenade, and Newport Beach.

758 W 20th Street, Costa Mesa
$1,895,000
PW26118632 MLS ⋅ Active Status
Pleased to present 408 Ford Road, a well-maintained single-story triplex located in Costa Mesa. This property is walking distance to The Triangle and all retail, shopping, and entertainment along Newport Boulevard and 19th Street. Much of the area has been redeveloped and tenant demand remains very strong due to the location and surrounding communities. The property itself consists of (1) two-bedroom/two-bath unit with an inviting, large front patio and (2) additional two-bedroom/two-bath units. Each unit features an outdoor space and storage area. There is also ample parking which includes a double car garage and 2 covered carport spaces plus street-parking. The new investor can quickly realize a strong return on investment through modernization of the property and increased rent levels.

408 Ford Road, Costa Mesa
$2,195,000
NP26113676 MLS ⋅ Active Under Contract Status
Rare triplex opportunity located in the highly sought-after Eastside Costa Mesa market bordering Newport Heights and Newport Beach. 203 Ogle Street features an attractive unit mix consisting of (1) 4BR/2BA townhouse-style unit, (1) 2BR/1.5BA townhouse-style unit, and (1) 2BR/1BA unit, offering large floorplans that rarely come available in coastal multifamily properties of this size. Positioned in one of Orange County’s premier rental markets, the property is just moments from 17th Street, top shopping and dining, Newport Harbor, beaches, and offers convenient access to the 55, 73, and 405 freeways. The location continues to benefit from strong long-term rental demand and limited multifamily supply. Ideal opportunity for investors seeking a well-located coastal asset with long-term upside in one of Costa Mesa’s most desirable submarkets. Drive by only. Please do not disturb tenants.

203 Ogle Street, Costa Mesa
$4,400,000
OC26108339 MLS ⋅ Active Status
TURNKEY, RECENTLY RENOVATED PRIDE OF OWNERSHIP PROPERTY: ?* New Roofs - 2021 & 2025 ??* Electric Sub-panels - Interior & Exterior - Replaced - 2025 ??* New Dual Pane Vinyl Widows - 2025 ??* Walkway Inspections Completed ??* Driveways Resealed - 2025 DESIRABLE RENTAL UNITS: ??* Washer Dryer Hookups in All Units ??* Air Conditioning in All Units ??* Individual Hot Water Heaters in All Units ??* Vaulted Open Beam Ceilings in All Units ??* 80% 2 Bedrooms, 20% Single Story 1 Bedrooms PRIME COASTAL OC SUBMARKET: 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.?

2256 2260 Maple, Costa Mesa
$9,595,000
OC26091598 MLS ⋅ Active Status
291 - 293 Avocado Street is a 24-unit multifamily property in Costa Mesa, California. The asset consists of two 12-unit buildings situated on contiguous parcels and arranged around a shared central courtyard. Built in 1965, the gated property offers approximately 18,012 rentable square feet and features a unit mix of 20 one-bed/one-bath units and 4 two-bed/one-bath units. The property provides 45 parking spaces (approximately 1.9 per unit), including a mix of surface, carport, and garage parking, along with an on-site laundry room. Ownership has completed several capital improvements, including a roof replacement, copper plumbing, and upgraded electrical subpanels. The property has also completed its SB-721 inspection with no required corrective work. 19 of the 24 units have been renovated, and rents are currently near market, supporting stable in-place income. The installation of in-unit washer/dryer hookups presents a potential enhancement, as this feature remains relatively uncommon among comparable properties yet is highly desirable to renters. The property also includes underutilized common area space that could be repositioned into amenities or, subject to city approval, may offer ADU potential. The property is located in a desirable Westside Costa Mesa setting with convenient access to nearby retail, dining, and major transportation corridors.

291 293 Avocado Street, Costa Mesa
$2,250,000
OC26065926 MLS ⋅ Active Status
This prime 4-plex in Costa Mesa’s coveted Mesa Verde neighborhood offers a stable investment with significant upside potential. The property features four units, including two single level residences and two upper units, offering a versatile layout attractive to a wide range of tenants. This property benefits from a more residential feel while maintaining strong income potential. Each unit includes a one car garage, with additional street parking available. A spacious front yard with a grass lawn enhances curb appeal and provides a welcoming setting. Ideally situated just five miles from the coast, this property offers convenient access to premier destinations including South Coast Plaza, Orange Coast College, the OC Fairgrounds, Triangle Square, and the vibrant shopping and dining. A rare opportunity to own a well-located, income-producing property in one of Costa Mesa’s most sought-after communities.

2940 Peppertree, Costa Mesa
$2,450,000
OC26051828 MLS ⋅ Active Status
Central Costa Mesa location. Close to schools, Orange Coast College, South Coast Plaza, transportation. All four apartments are 3 bedrooms, single level about 1150 square feet. Two Apartments have been remodeled with new kitchens, Bathrooms, Vinyl planking and new vinyl windows. Two have the potential to be remodeled for much more income. The whole building has been re-piped with coper pipe. All four electrical panel have been replaced with NEW panels.

1034 El Camino Drive, Costa Mesa
$2,195,000
OC26045159 MLS ⋅ Active Status
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.

1124 Victoria, Costa Mesa
$2,599,999
8 Beds ⋅ 5 Baths ⋅ 25623849 MLS ⋅ Active Status
Unique opportunity for Value-Add Investment. Two contiguous properties totaling 18,295 sq. ft of land. Front property consists of (4) two bedroom, 1/2 bath units. Existing leases are all short term, two units will be delivered vacant thus giving the new buyer to increase rents. Back lot is all paved in asphalt and the City of Costa Mesa will approve the development of 3 additional residential units.

1925 Wallace Avenue, Costa Mesa
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Based on information from California Regional Multiple Listing Service, Inc. as of . This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.