136 E Bay, Costa Mesa, CA 92627

Property Description

Exceptional opportunity to acquire two adjacent fourplexes (136 & 132 E. Bay St.) being offered together as one premier 8-unit multifamily investment in the highly sought-after Eastside Costa Mesa market. Properties of this size and quality rarely become available in one of Orange County's most desirable rental locations. Together, the properties feature eight well-designed units consisting of four 2-bedroom, 1-bath residences and four comfortable 1-bedroom, 1-bath residences, offering an ideal mix that appeals to a broad tenant base. Each property provides a garage space, additional uncovered parking to be allocated, on-site laundry, the lower units feature outdoor living areas, creating a desirable living environment for residents while minimizing vacancy. The buildings are up to code and have verified SB721 inspection reports for the stairs and patios. Ideally located just minutes from Newport Beach, Triangle Square, the Back Bay, the 55 Freeway, John Wayne Airport, and the area's premier shopping, dining, and entertainment, the properties enjoy strong rental demand driven by their exceptional coastal location. Whether you're seeking stable cash flow with long-term appreciation potential or an opportunity to enhance value through strategic renovations, rental increases and possible ADU additions above the garages this offering delivers exceptional flexibility. The combined eight-unit configuration provides operational efficiencies while maintaining the appeal of smaller residential properties.