Multifamily

The Daisy III

687 W 18th Street, Costa Mesa, CA 92627

Listing Price: $7,800,000

Cap Rate
3.69%
Number of Units
22
Occupancy
100.0%
Price/Unit
$354,545
Price/Gross SF
$371.22
Gross SF
21,012

Investment Overview

The Daisy (Daisy III) is a 22 unit multifamily community located in one of the most desirable family/lifestyle locations in Orange County. Situated approximately one half a mile north of the border of Newport Beach, Costa Mesa is also home to world class shopping at South Coast Plaza.  Children who live at the Daisy are surrounded by highly rated K-12 schools including Whittier Elementary, Ensign Intermediate School and Newport Harbor High School. The Daisy was built by a well-known developer, John Konwiser, in 1975. Sitting on approximately 0.95 acres, it consists of an outstanding unit mix of 1,750 square foot 1 Bedroom/1 Bath unit, twenty 2 Bedroom/1 Bath units and one 3 Bedroom/1 Bath unit. As with all of Mr. Konwiser’s Daisy properties, this property is uniquely positioned as a family community. Although a new owner will not be required to maintain this property as family oriented, it fills a special niche in the community that may prove beneficial for expanding future upside potential through improved marketing. In addition to its gated pool area, residents can enjoy the central playground area which is a unique amenity in the surrounding community. A distinctive feature of this, and all The Daisy properties, is its roof design. Aside from the mansards, the flat roofs are made of metal and, as a result have proven to be virtually leak free since the buildings were constructed.

Investment Highlights

  • Spacious, Well Designed Floor Plans
  • Family Oriented Community
  • Excellent West Side Costa Mesa Location

Exclusively Listed By

Financing By

Listing Price: $7,800,000

Cap Rate
3.69%
Number of Units
22
Occupancy
100.0%
Price/Unit
$354,545
Price/Gross SF
$371.22
Gross SF
21,012

Investment Highlights

  • Spacious, Well Designed Floor Plans
  • Family Oriented Community
  • Excellent West Side Costa Mesa Location

Investment Overview

The Daisy (Daisy III) is a 22 unit multifamily community located in one of the most desirable family/lifestyle locations in Orange County. Situated approximately one half a mile north of the border of Newport Beach, Costa Mesa is also home to world class shopping at South Coast Plaza.  Children who live at the Daisy are surrounded by highly rated K-12 schools including Whittier Elementary, Ensign Intermediate School and Newport Harbor High School. The Daisy was built by a well-known developer, John Konwiser, in 1975. Sitting on approximately 0.95 acres, it consists of an outstanding unit mix of 1,750 square foot 1 Bedroom/1 Bath unit, twenty 2 Bedroom/1 Bath units and one 3 Bedroom/1 Bath unit. As with all of Mr. Konwiser’s Daisy properties, this property is uniquely positioned as a family community. Although a new owner will not be required to maintain this property as family oriented, it fills a special niche in the community that may prove beneficial for expanding future upside potential through improved marketing. In addition to its gated pool area, residents can enjoy the central playground area which is a unique amenity in the surrounding community. A distinctive feature of this, and all The Daisy properties, is its roof design. Aside from the mansards, the flat roofs are made of metal and, as a result have proven to be virtually leak free since the buildings were constructed.

Exclusively Listed By

Financing By

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