| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 80th | Good |
| Demographics | 58th | Fair |
| Amenities | 29th | Poor |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2881 Bristol St, Costa Mesa, CA, 92626, US |
| Region / Metro | Costa Mesa |
| Year of Construction | 1973 |
| Units | 39 |
| Transaction Date | 1997-07-30 |
| Transaction Price | $410,000 |
| Buyer | YEARS AUTUMN |
| Seller | SLIEPKA ZIEGLER LTD PARTNERSHIP |
2881 Bristol St, Costa Mesa Multifamily Investment
Neighborhood occupancy runs strong and elevated for this part of Orange County, supporting durable renter demand, according to WDSuite’s CRE market data. Metrics cited refer to the surrounding neighborhood rather than the property itself.
Costa Mesa’s inner-suburban setting offers solid fundamentals for long-term leasing. Neighborhood occupancy is high (top quartile nationally), and restaurants are relatively dense compared with many areas of the country (around the 81st national percentile), while parks score notably well. Daily services such as cafes, groceries, and pharmacies are limited within the immediate neighborhood footprint, so residents often rely on nearby corridors for errands.
Home values in the neighborhood are elevated relative to most U.S. areas (near the 98th national percentile), which typically sustains renter reliance on multifamily housing and can support pricing power and retention. Median household incomes rank above many U.S. neighborhoods (around the 85th percentile), helping stabilize collections and renewal outcomes from an investor perspective.
Within a 3-mile radius, demographics indicate a large renter pool today and further expansion ahead. Households are projected to increase into 2028, even as average household size trends a bit lower—conditions that generally expand the base of potential renters and support occupancy stability. School ratings in the neighborhood are above U.S. norms, another contributor to livability that helps with tenant retention for family-oriented units.
The property’s 1973 vintage is somewhat newer than the neighborhood’s average building year (1963 across 516 metro neighborhoods), which positions it competitively versus older stock while still leaving room for targeted modernization to enhance NOI through unit and systems updates.
Neighborhood safety indicators sit around the metro middle when compared across 516 Anaheim–Santa Ana–Irvine neighborhoods. Relative to U.S. neighborhoods, safety measures are below national medians; however, WDSuite data shows recent year-over-year declines in both property and violent offense estimates, suggesting improving conditions. Investors should underwrite with current comps and consider standard operational measures to support resident comfort and retention.
Nearby corporate hubs underpin a stable white-collar employment base and commuting convenience for renters, including First American Financial, Prudential, Microsoft Technology Center, Western Digital, and Pacific Life.
- First American Financial — corporate offices (2.5 miles) — HQ
- Prudential — corporate offices (2.6 miles)
- Microsoft Technology Center — technology center (2.9 miles)
- Western Digital — technology/manufacturing (2.9 miles) — HQ
- Pacific Life — financial services (3.9 miles) — HQ
This 39‑unit asset benefits from a neighborhood with high occupancy and strong income fundamentals, reinforcing leasing durability and renewal potential. Elevated for-sale housing costs in the immediate area typically sustain multifamily demand, while a sizable 3‑mile renter base and projected household growth point to ongoing tenant pipeline support. According to CRE market data from WDSuite, neighborhood occupancy trends rank among the stronger cohorts nationally, aligning with steady investor underwriting.
The 1973 vintage is newer than much of the local stock, offering competitive positioning versus older assets while leaving room for value-add through modernization of interiors and building systems. Key risks to model include reliance on nearby corridors for daily services and safety metrics that track around the metro middle; both are manageable with targeted capex and proactive property operations.
- High neighborhood occupancy supports stable leasing and renewals
- Elevated home values reinforce renter reliance on multifamily housing
- 3-mile household growth expands the tenant base and supports rent roll
- 1973 vintage offers value-add potential via targeted modernization
- Risks: limited immediate daily services and safety near metro median