Costa Mesa, CA 92626 1010 1016 Valencia Street

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Presented By: Andre White with Pacific Sotheby's Int'l Realty; 949-378-9653
  • California Regional MLS (CRMLS) - 25 - CA
  • MLS# NP25129812
  • 06/20/2025
  • Request Tour
  • Request Info
Disclaimer: The information contained in this listing has not been verified by Sell Buy OC Homes and should be verified by the buyer.
  • Beds • 3
  • Baths • 2
  • SQFT • 9,340
  • Garage • 8

Home Details

We are proud to present 1010–1016 Valencia Street, a rare side-by-side offering of two 4-unit apartment buildings with separate APNs, located in the heart of Costa Mesa—one of Southern California’s most desirable coastal housing markets. This turnkey multifamily investment consists of eight fully rented 3-bedroom, 2-bathroom units, offering a strong blend of immediate income and long-term upside. The property sits on a 13,068 square foot lot and includes 9,340 square feet of building space. A lushly landscaped central courtyard creates a welcoming and private environment for residents, while recent renovations to both the interior and exterior enhance the overall appeal. The units feature modern updates such as vinyl plank flooring, stainless steel appliances, updated cabinetry and countertops, and open-concept kitchens. Recent improvements include new staircases and sewer line. The property provides ample parking with eight single-car garages and six uncovered spaces, along with on-site laundry for added tenant convenience. Most of the units are currently leased close to market rents, reflecting the high quality of the renovations and the desirability of the location. The owner is open to selling the buildings separately or as a package, offering flexibility to investors looking for stable, high-performing assets in a supply-constrained coastal market. This is an excellent opportunity to acquire a well-maintained, income-generating property in a prime Costa Mesa location.
Presented By: Andre White with Pacific Sotheby's Int'l Realty; 949-378-9653

Interior Features for 1010 1016 Valencia Street

Other Interior Features

Air Conditioning Y/NNo
Basement (Y/N)No
Common WallsNoCommonWalls
Fireplace Y/NNo
Heating Y/NNo
Laundry FeaturesLaundryRoom
Total Stories2

Other Rooms

Entry Level1

General for 1010 1016 Valencia Street

Additional Parcels Description14166410
Additional Parcels Y/NYes
Attached Garage No
Building Area UnitsSquareFeet
Cap Rate4.18
Carport Y/NNo
CityCosta Mesa
Community FeaturesStreetLights, Sidewalks
Construction MaterialsStucco
CountyOrange
DirectionsFrom CA-73, Take exit 17C for Bear St, Turn left onto Bear St, Use the 2nd from the right lane to turn right onto Baker St, Turn left onto Mendoza Dr, Turn left onto Valencia St, Property will be on the le
Electric Expense1894.0
Electric On Property Y/NNo
Entry Location1
Fuel Expense1894.0
Garage Spaces8.0
Garage Y/NYes
Gross Income305940.0
HOANo
HOA Fee$0.0
Home Warranty Y/NNo
Insurance Expense8200.0
Land Lease Y/NNo
Lease Considered Y/NNo
Lease Renewal Y/NNo
LevelsTwo
Listing TermsCash, CashToNewLoan
Lot Size Square Feet13068.0
Lot Size UnitsSquareFeet
MLS AreaC4 - Central Costa Mesa
MobileHomeRemainsYNNo
Net Operating Income200490.0
New ConstructionNo
Number Of Units Total8
Number of Units Leased8
Open Parking Spaces6.0
Operating Expense105450.0
Pool FeaturesNone
Property Attached Y/NNo
Property ConditionUpdatedRemodeled
Property Sub Type AdditionalMixedUse
Property SubtypeMixedUse
Property TypeResidentialIncome
Rent Control Y/NNo
RoofComposition
Security FeaturesCarbonMonoxideDetectors, SmokeDetectors
Senior Community Y/NNo
SewerPublicSewer
Spa FeaturesNone
Special Listing ConditionsStandard
Standard StatusActive
StatusActive
Stories2
Subdivision Name/
Tax Lot41
Taxes$50,506
Tenant PaysElectricity, Gas
Total Actual Rent25495.0
Trash Expense1894.0
UtilitiesElectricityConnected, SewerConnected, WaterConnected
Water Sewer Expense1894.0
Year Built1964
Year Built SourceAssessor

Exterior for 1010 1016 Valencia Street

Building Area Total9340.0
Crops Included Y/NNo
Exterior AmenitiesRainGutters
FencingWood
Horse Y/NNo
Irrigation Water Rights Y/NNo
Lot FeaturesStreetLevel
Lot Size Acres0.3
Lot Size Area13068.0
Lot Size SourceAssessor
Number of Buildings2
Number of Separate Electric Meters8
Number of Separate Gas Meters8
Number of Separate Water Meters1
Open Parking Y/NNo
Parking FeaturesGarage, OneSpace
Private PoolNo
Road Surface TypeAlleyPaved
SpaNo
Total Parking14.0
Water SourcePublic
Waterfront Y/NNo

Additional Details

Price History

Hal Schlegel

Broker Associate
Price $4,800,000
MLS#NP25129812
List Date 06/20/2025
Property Type Multi-Family
Phone 714.742.6515
Request Tour
Request Info
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