| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 81st | Good |
| Demographics | 69th | Fair |
| Amenities | 63rd | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 398 W Wilson St, Costa Mesa, CA, 92627, US |
| Region / Metro | Costa Mesa |
| Year of Construction | 1979 |
| Units | 51 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
398 W Wilson St Costa Mesa Multifamily Opportunity
Positioned in a high-cost ownership pocket of Costa Mesa, this asset benefits from durable renter demand and stable neighborhood occupancy, according to WDSuite's CRE market data. Investors screening coastal Orange County will find location fundamentals and employer access to be the primary drivers.
The property sits in a B+ rated Urban Core neighborhood that is competitive among Anaheim–Santa Ana–Irvine neighborhoods (ranked 144 of 516). Housing and demographic indicators trend above national midpoints, supporting a broad renter base and consistent leasing performance, per WDSuite.
Daily-needs access is a local strength: grocery and pharmacy density ranks in the upper tier nationally, while restaurants are plentiful. By contrast, parks and cafe density are limited within the immediate neighborhood footprint—an amenity mix that skews toward essentials over leisure. For investors, this supports everyday convenience but suggests fewer placemaking features to command premium lifestyle rents.
Neighborhood occupancy is in the low 90s and has edged higher over five years, a backdrop that supports retention and reduces downtime risk. Within a 3-mile radius, roughly half of housing units are renter-occupied, indicating a deep tenant pool for multifamily. Elevated home values in this submarket create a high-cost ownership environment that tends to sustain rental reliance—favorable for lease stability and pricing power when asset quality is maintained.
Income levels in the 3-mile radius are high and rising, and household counts are projected to increase by 2028 even as average household size trends lower. This combination points to a larger tenant base and continued demand for well-managed units. Rents in the area have grown meaningfully over the past five years and are projected to continue advancing, according to WDSuite's commercial real estate analysis, suggesting room for disciplined revenue management while watching rent-to-income thresholds.
Safety indicators are broadly around the metro middle, with the neighborhood sitting slightly above the national midpoint overall. Importantly, recent trend data show notable year-over-year declines in both property and violent offense rates, signaling improving conditions compared with last year. These are neighborhood-level dynamics and can support leasing confidence when combined with professional onsite management and standard security measures.
Given that neighborhood ranks are measured against 516 Anaheim–Santa Ana–Irvine neighborhoods, investors should view safety as neither a differentiator nor a major detractor at the submarket level, but with improving momentum that may aid resident retention over time.
Proximity to major Orange County employers supports workforce housing demand and commute convenience. Nearby anchors include Pacific Life, Prudential, Western Digital, and First American Financial.
- Pacific Life — insurance (3.4 miles) — HQ
- Prudential — insurance (4.3 miles)
- Western Digital — data storage (4.5 miles) — HQ
- First American Financial Corporation — title and settlement services (4.5 miles)
- First American Financial — title insurance (4.5 miles) — HQ
This Costa Mesa location benefits from a high-cost ownership market, strong household incomes, and a renter base deepened by proximity to major employment nodes. Neighborhood occupancy trends in the low 90s and a B+ rating indicate steady leasing dynamics relative to the metro, while grocery, pharmacy, and restaurant access underpin day-to-day livability. According to CRE market data from WDSuite, rent levels and incomes support disciplined revenue management and retention-focused operations.
Forward-looking demographics within a 3-mile radius point to more households and a larger tenant base by 2028, even as household sizes drift lower—factors that typically support occupancy stability. Key watch items include below-average school ratings for family renters, limited park and cafe density for lifestyle positioning, and the need to continue monitoring crime trends despite recent improvements.
- High-cost ownership market reinforces renter reliance and pricing power for well-managed units
- Competitive B+ neighborhood with steady occupancy and strong daily-needs access
- Proximity to major employers supports a broad tenant base and retention
- Demographic outlook within 3 miles indicates a larger renter pool by 2028
- Risks: below-average school ratings, limited parks/cafes, and crime trends to monitor despite recent improvement