| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 89th | Best |
| Demographics | 77th | Best |
| Amenities | 44th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2650 Harla Ave, Costa Mesa, CA, 92626, US |
| Region / Metro | Costa Mesa |
| Year of Construction | 1977 |
| Units | 42 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
2650 Harla Ave Costa Mesa Multifamily Investment
Renter-occupied housing is prevalent in the surrounding neighborhood, supporting depth of tenant demand while elevated ownership costs in Orange County sustain reliance on multifamily rentals, according to WDSuite’s CRE market data. Expect steady leasing interest typical of Urban Core submarkets, with pricing power tied to asset positioning and management.
The property sits within Costa Mesa’s Urban Core, rated B+ among 516 metro neighborhoods, where renter-occupied units make up a high share of housing. This renter concentration signals a broad tenant base for a 42‑unit asset, while neighborhood occupancy trends are nearer the metro middle, suggesting performance will hinge on operational execution and unit quality.
Daily conveniences are accessible: neighborhood pharmacy access ranks strong (top national tier), and grocery and dining density track above many U.S. neighborhoods. However, parks and café density are thin locally, so on-site amenities and unit finishes can play an outsized role in retention. Median contract rents in the neighborhood trend high versus national norms, reinforcing the need for disciplined lease management and renewals.
Within a 3‑mile radius, demographics indicate a stable, higher‑income renter pool and smaller average household sizes. While recent population change has been modestly negative, WDSuite’s commercial real estate analysis points to an increase in households over the next five years, implying a larger tenant base even as household sizes edge lower—typically supportive of multifamily absorption and occupancy stability.
The asset’s 1977 vintage is older than the neighborhood’s more recent housing stock, creating clear value‑add and capital planning angles. Targeted renovations can enhance competitiveness against newer comparables, particularly in a submarket where high home values favor sustained rental demand and where NOI performance ranks competitively among metro peers.
Neighborhood safety indicators are generally comparable to national norms, with recent year trends showing notable declines in both property and violent incident estimates. In practical terms, this suggests a stable operating backdrop relative to many U.S. neighborhoods, though investors should continue to underwrite standard security measures and monitor local trendlines as part of risk management.
Compared with other areas nationwide, the neighborhood sits modestly above the middle on composite safety measures, and recent downward momentum in estimated incident rates is a constructive signal. As always, evaluate property‑level factors—lighting, access control, and visibility—since block‑level conditions can vary within Urban Core settings.
Proximity to major corporate offices underpins steady workforce housing demand and supports retention for well‑positioned multifamily assets. Notable nearby employers include First American, Pacific Life, Prudential, and Western Digital—each contributing to a strong white‑collar employment base within a short drive.
- First American Financial Corporation — corporate offices (4.2 miles)
- First American Financial — corporate offices (4.2 miles) — HQ
- Pacific Life — corporate offices (4.3 miles) — HQ
- Prudential — corporate offices (4.5 miles)
- Western Digital — corporate offices (4.7 miles) — HQ
2650 Harla Ave offers exposure to an Urban Core neighborhood with a deep renter base, high home values that bolster rental demand, and convenience retail access that supports daily needs. Based on CRE market data from WDSuite, neighborhood occupancy is around the metro middle, so returns will be driven by asset execution—unit upgrades, amenity strategy, and disciplined leasing—rather than market tide alone.
The 1977 vintage presents a clear value‑add path: modernizing interiors and addressing systems can sharpen competitiveness versus newer stock while capturing premium rents achievable in Costa Mesa’s high‑income catchment. A strong nearby employment base and projected growth in households within a 3‑mile radius support long‑term renter demand, though elevated rent‑to‑income levels argue for careful renewal management to sustain retention.
- Deep renter concentration supports demand and leasing velocity
- Value‑add upside from 1977 vintage via targeted renovations and system upgrades
- Strong nearby white‑collar employers reinforce retention and daytime population
- Household growth within 3 miles supports tenant base expansion and occupancy stability
- Risk: elevated rent‑to‑income and mid‑pack neighborhood occupancy require disciplined renewals and expense control