| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 85th | Best |
| Demographics | 70th | Good |
| Amenities | 65th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 126 E 18th St, Costa Mesa, CA, 92627, US |
| Region / Metro | Costa Mesa |
| Year of Construction | 1975 |
| Units | 30 |
| Transaction Date | 2010-09-08 |
| Transaction Price | $4,675,000 |
| Buyer | WESTBAY ASSOCIATES LLC |
| Seller | WESTBAY PROPERTIES #3 LLC |
126 E 18th St Costa Mesa Value-Add Multifamily
Mid-90s neighborhood occupancy and a high renter concentration point to durable demand in a high-cost ownership market, according to WDSuite’s CRE market data.
Costa Mesa’s Urban Core setting offers strong daily convenience: grocery and pharmacy density ranks among the strongest in the metro (3rd of 516 neighborhoods) and sits at the top of national comparisons, while restaurants and cafes test in the upper national percentiles. Limited park and childcare options in the immediate area may temper family-oriented appeal, but the overall amenity mix supports renter retention.
For investors, neighborhood-level multifamily fundamentals are constructive. Occupancy trends are competitive nationally (upper-third percentiles) and the renter-occupied share of housing units is high (top national percentiles), signaling depth in the tenant base and stable leasing. Median contract rents are elevated for the metro and have grown meaningfully over five years, supporting revenue potential with careful lease management.
The property’s 1975 vintage is older than the neighborhood’s average construction year (ranked 187 out of 516 metro neighborhoods for newer stock), pointing to potential value-add and capital-planning needs to remain competitive against 1980s-and-newer comparables. In a submarket where median home values rank near the top nationally, the high-cost ownership environment tends to reinforce reliance on multifamily housing and can support pricing power when units are well-positioned.
Within a 3-mile radius, demographics indicate a high-income household base with a rising share of upper-income brackets. Over the last five years, population was roughly flat while household counts edged higher and average household size trended smaller, which typically expands the renter pool and supports occupancy stability. Looking ahead, forecasts point to additional household growth alongside higher incomes, reinforcing demand for professionally managed rentals.
Relative to the Anaheim–Santa Ana–Irvine metro, the neighborhood’s composite crime position is slightly better than the median (ranked 240 out of 516). Nationally, overall crime benchmarks near the middle of the pack. Property and violent offense rates benchmark below national safety percentiles, but recent year-over-year trends show notable declines in both categories, which investors may view as a constructive directional signal rather than a resolved risk.
As with any urban core location, prudent operations (lighting, access control, and resident engagement) remain important to sustain leasing and retention outcomes over time.
Nearby corporate offices provide a diversified white-collar employment base that supports renter demand and commute convenience, notably from Pacific Life, Prudential, Western Digital, the Microsoft Technology Center, and First American Financial.
- Pacific Life — insurance (2.7 miles) — HQ
- Prudential — financial services (4.8 miles)
- Western Digital — data storage (4.9 miles) — HQ
- Microsoft Technology Center — technology offices (5.2 miles)
- First American Financial Corporation — title & insurance (5.4 miles)
126 E 18th St offers a 30-unit, 1975-vintage asset in a renter-heavy Costa Mesa neighborhood where elevated home values and strong amenity access underpin steady apartment demand. Neighborhood occupancy sits in the upper national percentiles and median rents are comparatively high for the metro, indicating potential for durable revenue when units are competitively finished and managed. Based on CRE market data from WDSuite, the area’s high renter concentration and strong income profile support a deep tenant base.
The 1975 construction creates a clear value-add path: targeted renovations and systems upgrades can improve competitive positioning versus 1980s-and-newer stock while capturing demand from professionals employed at nearby corporate offices. Operationally, safety indicators have improved year over year but remain a consideration typical of urban core locations, warranting standard best practices in property operations.
- Renter-heavy neighborhood and upper-percentile occupancy support leasing stability
- High-cost ownership market sustains multifamily demand and pricing power
- 1975 vintage presents value-add and capital-planning opportunities
- Proximity to major employers supports tenant demand and retention
- Risk: urban-core safety benchmarks require ongoing operational focus