
Costa Mesa, California 92627
This fully occupied fourplex represents a Strong Value Opportunity, listed at a List Price of $2,999,995—positioned well below the $3,285,408 Fair Market Value by 8%. This valuation gap provides $285,413 in Instant Equity. With an Excellent Condition Rating following extensive 2020-2026 renovations, this Turnkey Residential Income Asset features a rare nine-space parking ratio and modern finishes. Located in Eastside Costa Mesa, it offers immediate rental income and long-term upside, making it an ideal acquisition for Buy-and-Hold Investors or 1031-exchange buyers.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 180 Rochester Street Subject | $2,999,995* List Price | 0 | 0 | 3,325 | $988 | - |
A 2048 Garden Lane Sold | $2,855,000 | 0 | 0 | 3,355 | $851 | 0.9 mi |
* Subject property listed price vs sold prices of comps.
Property is new construction or fully renovated.
The property underwent extensive remodeling and capital improvements between 2020 and 2026, including the roof, windows, and drain systems. The interiors feature contemporary kitchens, bathrooms, and updated flooring, meeting the criteria for a renovation less than 5 years old in mint condition.
The property underwent comprehensive remodeling between 2020 and 2026, including the roof, windows, and plumbing systems, significantly reducing near-term maintenance costs for a new owner.
Offering nine total onsite parking spaces, including seven covered carports, the property provides a rare and highly marketable parking advantage for the Eastside Costa Mesa rental market.
Situated in the highly coveted Eastside Costa Mesa neighborhood, the property benefits from high tenant demand due to its proximity to the 17th Street corridor and Newport Beach.
Lot size discrepancy between mls listing and other public or private record. mls listing lot size in square feet =7706, other record lot size in square feet = 6998.
Each two-bedroom unit features only one bathroom, which may limit appeal for certain tenant profiles or families seeking more modern living conveniences.
With a list price near $3 million, the property represents a significant capital investment that may result in a compressed initial cap rate compared to other regional investment opportunities.
Rare opportunity to acquire a fully occupied and extensively improved fourplex in highly coveted Eastside Costa Mesa. 180 Rochester Street features four matching two-bedroom, one-bath residences, providing an efficient and highly marketable unit mix with immediate rental income from day one. Each residence offers contemporary kitchens and bathrooms, upgraded flooring, doors, recessed lighting, appliances and design-forward finishes. Extensive remodeling and capital improvements completed between 2020 and 2026 include the roof, windows, interior and exterior walls, drain systems, fencing, landscaping, driveway and hardscape, substantially reducing near-term capital needs. Additional features include separate utility metering and a dedicated common laundry room. Parking is exceptional for the area, with a carport providing covered parking for up to seven vehicles and space for nine vehicles onsite in total. The property contains approximately 3,325 square feet of building area on an approximately 7,706-square-foot lot. Located within walking distance of the 17th Street corridor and close to the dining, shopping, recreation, Newport Beach access and lifestyle destinations that define Eastside Costa Mesa. With all four units currently occupied, the property offers a strong existing rent roll, immediate income and compelling long-term upside through future rent growth, continued tenant demand and the enduring value of a scarce four-unit Eastside asset. An ideal opportunity for a 1031-exchange buyer, private investor or long-term owner seeking a turnkey residential income property in one of Costa Mesa’s most desirable rental markets.
No exterior & parking available.
Grades PK-2 • 0.8 mi
Grades PK-6 • 0.9 mi
Grades 3-6 • 1.0 mi
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 0.0 | 4.1 |
| Baths | 0.0 | 3.3 |
| Square foot | 3,325 | 2,378.222 |
| Lot Size | 7,706 | 7,156.444 |
| Price | $3.00M | $2.04M |
| Price per sq ft | $902 | $780 |
| Built year | 1962 | 1962 |
| HOA | $0 | $0 |
| Days on market | 19 | 65 |
Aug 21, 2026
$2,999,995
Initial Listing
Feb 20, 2024
$2,445,000
Public Record
Jan 5, 2021
$1,865,000
Public Record
Jan 29, 2014
$1,075,000
Public Record