432 Hamilton Street is a fully renovated five-unit multifamily investment property located in Costa Mesa’s desirable Westside neighborhood. Currently master leased at $19,000 per month, the property provides investors with stable, predictable cash flow and a 5.06% cap rate, with future upside upon conversion to individual leases. The unit mix consists of one 3-bedroom/2-bath and four 2-bedroom/2-bath units, including two brand-new ADUs completed in 2024 and three extensively renovated units in the original 1977 building. Each residence features modern kitchens with stone countertops and stainless steel appliances, updated bathrooms, in-unit laundry, and private outdoor patios or balconies. The property offers six off-street parking spaces, separate gas and electric meters, and a low-maintenance layout on an 8,795 SF lot. Ideally located just minutes from the beach, 17th Street retail, and Triangle Square, 432 Hamilton combines turnkey operations, strong in-place income, and long-term value in one of Orange County’s most sought-after rental markets.
Property Details
Price:
$3,350,000
MLS #:
NP25174755
Status:
Active
Baths:
0
Address:
432 Hamilton Street
Type:
Residential Income
Subtype:
Apartment
Neighborhood:
c4centralcostamesa
City:
Costa Mesa
Listed Date:
Aug 4, 2025
State:
CA
ZIP:
92627
Lot Size:
16,483 sqft / 0.38 acres (approx)
Year Built:
1977
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Schools
Interior
Cooling
Ductless, E N E R G Y S T A R Qualified Equipment
Fireplace Features
None
Heating
Central
Exterior
Community Features
Sidewalks, Storm Drains
Garage Spaces
0.00
Lot Features
2-5 Units/ Acre
Parking Features
Assigned
Parking Spots
6.00
Pool Features
None
Sewer
Public Sewer
Spa Features
None
Stories Total
2
View
None
Water Source
Public
Financial
Association Fee
0.00
Tenant Pays
Cable T V, Electricity, Gas
Map
Community
- Address432 Hamilton Street Costa Mesa CA
- AreaC4 – Central Costa Mesa
- CityCosta Mesa
- CountyOrange
- Zip Code92627
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432 Hamilton Street
Costa Mesa, CA
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