| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 85th | Best |
| Demographics | 70th | Good |
| Amenities | 65th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 778 Scott Pl, Costa Mesa, CA, 92627, US |
| Region / Metro | Costa Mesa |
| Year of Construction | 1972 |
| Units | 55 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
778 Scott Pl, Costa Mesa Multifamily Investment
Neighborhood occupancy is 94.7%, supporting income stability for well-managed assets, according to WDSuite’s CRE market data. This Urban Core location in Costa Mesa pairs strong renter demand with high household incomes relative to many markets.
Costa Mesa’s Urban Core setting scores in the top quartile among 516 metro neighborhoods (A- rating), signaling durable fundamentals for multifamily. Neighborhood occupancy sits above the national median, and renter-occupied housing comprises a large share of units (64.4%), indicating a deep tenant base and potential for steadier leasing performance.
Everyday convenience is a clear strength: grocery and pharmacy density rank at the top of national comparisons, and cafes and restaurants are also well represented relative to most neighborhoods nationwide. While formal school rating data is not available here, investor interest typically focuses on commute access and amenity depth—both supportive of retention in workforce-oriented assets.
Home values in the neighborhood are elevated versus national norms, a high-cost ownership context that tends to sustain reliance on rentals and can support pricing power when units are positioned competitively. Median rents rank high nationally as well, so operators should balance revenue strategies with affordability management to maintain renewal rates and limit turnover.
Demographic statistics are aggregated within a 3-mile radius: over the past five years, population edged down modestly while household counts ticked up, pointing to smaller household sizes and sustained renter pool depth. Looking ahead to 2028, households are projected to increase materially, which would expand the local tenant base and support occupancy and leasing velocity for well-located properties, based on CRE market data from WDSuite.
The asset’s 1972 vintage is older than the neighborhood’s average construction year (1982), suggesting scope for targeted capital improvements and value‑add repositioning to compete effectively against newer stock. Investors can underwrite modernization of interiors and building systems to enhance rentability and retention.
Safety indicators are mixed but trending positively. Overall crime levels are around the national median, and within the Anaheim–Santa Ana–Irvine metro the neighborhood sits mid‑pack (rank 240 out of 516). Property and violent offense rates compare weaker than many neighborhoods nationwide; however, both categories show notable year‑over‑year improvement, indicating momentum that investors should monitor as part of lease-up and retention planning.
For underwriting, a prudent approach is to account for security measures and tenant communication, while recognizing the recent downward trend in offense rates that may support perception and retention over the hold period.
The immediate area draws from a diversified professional employment base that supports renter demand and commute convenience, including insurance, technology, and data storage headquarters and offices listed below.
- Pacific Life — insurance (3.4 miles) — HQ
- Prudential — insurance (5.5 miles)
- Western Digital — data storage (5.6 miles) — HQ
- Microsoft Technology Center — technology (5.9 miles)
- First American Financial — title & settlement services (5.9 miles) — HQ
778 Scott Pl offers scale at 55 units in an Urban Core pocket where neighborhood occupancy is 94.7% and renter concentration is high, supporting depth of demand and potential income stability. Elevated home values in the surrounding neighborhood reinforce reliance on multifamily, while amenity density (groceries, pharmacies, dining) supports leasing and renewal prospects. According to CRE market data from WDSuite, the submarket’s fundamentals compare favorably to national medians, with room for value creation through operations and targeted upgrades.
Built in 1972, the property is older than the neighborhood average, pointing to clear value‑add levers through interior modernization and building‑system improvements to better compete with newer stock. Within a 3‑mile radius, households have grown modestly and are projected to expand further by 2028, which would enlarge the tenant base and support occupancy and rent positioning, while mindful of affordability and safety considerations.
- Strong renter-occupied housing share and mid‑90s neighborhood occupancy underpin demand stability
- High-cost ownership environment supports multifamily pricing power when units are well positioned
- Amenity-rich location (top-tier groceries/pharmacies) enhances retention and leasing
- 1972 vintage presents value‑add potential via interior and systems modernization
- Risk: Property and violent offense rates are weaker than national norms but improving year over year