Costa Mesa California multifamily income property inventory update February, 2014.

With rising rents, close proximity to thousands of high paying jobs in Irvine and much lower Gross Rent Multipliers than neighboring  cities such as Newport Beach and Corona Del Mar, Costa Mesa California continues to be a favorite pick for residential income property investors.

Costa Mesa, California multifamily investment property inventory statistics showing tight inventory during January and February 2014.  Only seven weeks into the first quarter 2014, Costa Mesa has already had two triplex multifamily closings and one fourplex multifamily closing per the CRMLS.  In addition to these closings, Costa Mesa has had seven duplex, two triplex and one fourplex multifamily property enter escrow over the past  seven weeks per the CRMLS.  At the time of writing this blog (three and a half weeks into February), there were only eleven multifamily properties currently available as active for sale on the CRMLS.  Of these eleven active properties, seven are duplex multifamily properties, two are triplex multifamily properties and two are fourplex multifamily properties.

For those multifamily property investors frustrated with the lack of duplex, triplex and fourplex inventory in Costa Mesa California, I highly recommend investigating the Huntington Beach California residential income investment property market.  Huntington Beach California offers similar gross rent multipliers found in Costa Mesa California (in regards to the duplex, triplex and fourplex markets) also with rising rents, land appreciation and beautiful beaches.  Huntington Beach California’s massive multifamily investment property market will be reviewed in our next blog post.

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