| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 85th | Best |
| Demographics | 60th | Fair |
| Amenities | 78th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2450 Newport Blvd, Costa Mesa, CA, 92627, US |
| Region / Metro | Costa Mesa |
| Year of Construction | 1985 |
| Units | 92 |
| Transaction Date | 2022-03-30 |
| Transaction Price | $12,250,000 |
| Buyer | CADI XV LLC |
| Seller | COSTA MESA VILLAGE LTD |
2450 Newport Blvd, Costa Mesa Multifamily Investment
Neighborhood occupancy remains high and ownership costs are elevated, supporting durable renter demand around the property, according to WDSuite’s CRE market data. This positioning favors steady leasing with pricing set by local income depth rather than concessions.
This Costa Mesa address sits in an Urban Core setting with an A- neighborhood rating, ranked 96 out of 516 in the Anaheim–Santa Ana–Irvine metro—placing it in the top quartile locally. For investors, that translates to resilient fundamentals and competitive standing versus many metro peers, based on CRE market data from WDSuite.
Daily needs are well-covered: grocery access and pharmacies score in the 90th-plus national percentiles, and restaurant density is similarly strong. Parks are present at levels that also test in the 90th percentile nationally. While café density is thinner in the immediate area, the broader amenity mix helps sustain resident convenience and supports retention.
Neighborhood occupancy is strong (measured for the neighborhood, not this property), and roughly half of local housing units are renter-occupied—indicating a stable tenant base for multifamily assets. Within a 3-mile radius, households have been edging higher and are projected to continue growing, pointing to a larger tenant base and supporting lease-up and renewal velocity over the medium term.
Ownership is a high-cost proposition here, with home values well above national norms. That dynamic tends to reinforce reliance on multifamily housing and supports pricing power, while rent-to-income levels near a quarter suggest manageable affordability pressure—useful for lease management and retention planning.
Safety compares competitively within the Anaheim–Santa Ana–Irvine metro, with the neighborhood’s rank placing it competitive among 516 metro neighborhoods. Nationally, conditions register around the mid-50s percentile, indicating slightly better-than-average safety compared with neighborhoods nationwide.
Recent WDSuite indicators show year-over-year declines in both property and violent offense rates at the neighborhood level. While no single trend removes risk, the downward trajectory is a constructive signal for long-term holders evaluating resident experience and retention.
Nearby white-collar employers support a steady commuter tenant base and reduce turnover risk. The immediate area features insurance, technology, and title services offices that align with professional employment clusters listed below.
- Pacific Life — insurance (3.0 miles) — HQ
- Prudential — financial services (3.5 miles)
- Western Digital — data storage technology (3.6 miles) — HQ
- Microsoft Technology Center — software & tech services (3.8 miles)
- First American Financial — title insurance & services (3.9 miles) — HQ
2450 Newport Blvd offers scale in an Urban Core location where neighborhood occupancy is high and renter concentration is meaningful, supporting income stability. Elevated home values in the area reinforce reliance on multifamily housing, while rent-to-income levels indicate manageable affordability pressure that can aid renewal capture and limit concessions. Built in 1985, the asset is newer than the neighborhood’s average vintage, which can provide a competitive edge versus older stock; targeted system upgrades or common-area refreshes may still enhance positioning.
According to CRE market data from WDSuite, the neighborhood ranks in the metro’s top quartile with strong access to daily-needs amenities and a professional employment base nearby—factors that help underpin renter demand. Three-mile demographics show households increasing and are projected to continue rising, implying renter pool expansion that supports occupancy stability over the next cycle.
- High neighborhood occupancy and meaningful renter-occupied share support stable collections
- Elevated ownership costs sustain multifamily demand and pricing power
- 1985 vintage is newer than area average, with optional value-add via modernization
- Strong nearby employer base aids leasing velocity and retention
- Risks: safety metrics vary by subarea and improving trends may not persist; capital planning for mid-’80s systems remains important