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CBRE's Dan Blackwell & Mike O’Neill Represent Buyer In $9.57M Costa Mesa Multifamily Sale

Property Image
SOLD
$9,570,000
Mike O’Neill
Daniel (Dan) Blackwell

California

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MultiFamily
Sold 07/22/2025
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Property Image
SOLD

CBRE's Dan Blackwell & Mike O’Neill Represent Buyer In $9.57M Costa Mesa Multifamily Sale

313 East 17th Place

See Similar Deals
MultiFamily
Sold 07/22/2025
Mike O’Neill
Daniel (Dan) Blackwell
the dealplayerscompscontact
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Summary

CALIFORNIA
Asset Type:MultiFamily
Transaction Type:Sale

A 22-unit multifamily property located at 313 & 325 East 17th Place in Costa Mesa was sold for $9,570,000, marking its first time on the market in over 25 years. The property spans an area of 0.58 acres, achieving a price per unit of $435,000 and a cap rate of 5.10%.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $9,570,000
  • Address: 313 & 325 East 17th Place
  • Market: Costa Mesa
  • Units: 22
  • Price Per Unit: $435,000
  • Cap Rate: 5.10%
  • Broker Representatives: Daniel Blackwell & Mike O’Neill - CBRE

This transaction is noted as the largest multifamily deal in the area in three years. CBRE's Daniel Blackwell and Mike O’Neill represented the Fountain Valley-based buyer in this significant transaction.

Players

Daniel (Dan) Blackwell
CBRE
Daniel Blackwell
61 deals$439.4M volume(949) 725-8655
BROKER
Mike O’Neill
CBRE
Mike O’Neill
25 deals$160.8M volume
BROKER
CBRE
CBRE
BROKERAGE

Details

SOLD
IMAGE: Daniel Blackwell & Mike O’Neill DATE: 07/22/2025 ADDRESS: 313 & 325 East 17th Place MARKET: Costa Mesa ASSET TYPE: Multifamily ~ ACRES: 0.58 BROKERS: Daniel Blackwell (@MultiFamilySocal) & Mike O’Neill (@Mike_ONeill11) - CBRE (@CBRE) SALE PRICE: $9,570,000 UNITS: 22 ~ PPU: $435,000 NOTE: A 22-unit multifamily property in Eastside Costa Mesa sold for $9.57M, its first time on the market in over 25 years, at $434,845 per unit and a 5.10% cap rate.CBRE’s Dan Blackwell and Mike O’Neill represented the Fountain Valley-based buyer in what is the area’s largest multifamily deal in three years.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$510,400.01

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$34,000.18
Cash-on-Cash Return-1.27%
Monthly Debt Service$45,366.68
Annual Debt Service$544,400.19