Marcus & Millichap Sells 41-Unit Multifamily Property In Costa Mesa For $16.9M
1990 Maple Avenue
$16,900,000
Building Size
—
Asset Type
MultiFamily
Closing
Jul 21, 2026
AI
A 41-unit multifamily property located at 1990 Maple Avenue in Costa Mesa, California, has been sold for $16,900,000, translating to approximately $412,195 per unit. The property is situated in a market known for its potential and appeal among investors.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $16,900,000
- Units: 41
- Price Per Unit: $412,195
- Market: Costa Mesa, CA
- Seller: Local family
- Buyer: Strategic investor focused on value-add repositioning
- Broker Representatives: Matthew Kipp & Tyler Leeson - Marcus & Millichap
The transaction was brokered by Matthew Kipp and Tyler Leeson, who represent Marcus & Millichap. The seller opted for this sale to reduce management responsibilities by exchanging the asset for a property out of state, while the buyer plans to enhance the property through a repositioning strategy.
Players
Mechanicsville MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.94%
Cash-on-Cash
-0.27%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93