2515 Orange Avenue, Costa Mesa, California 92627, Costa Mesa, 92627 - 0 bed, 0 bath
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2515 Orange Avenue
Costa Mesa, California 92627
ACTIVE
CONDITION: GOOD
0Beds
0Baths
3,307Sq Ft
8,373Lot Size
Property Price
LIST PRICE$2,450,000
EST. MARKET VALUE
$2,720,621
9% BelowMARKET VALUE
SUMMARY
FULL_VERSION
This triplex represents a Strong Value Opportunity, listed at $2,450,000—positioned well below the $2,720,621 Fair Market Value by 9%. This valuation gap offers $270,621 in Instant Equity for the buyer. Featuring a Condition Rating of 3 and a new 2026 roof, the property offers a rare mix of three 3-bedroom units in a high-demand coastal market. This is an ideal acquisition for Buy-and-Hold Investors or 1031 Exchange Buyers seeking a stable, income-producing asset in Eastside Costa Mesa.
SEO VERSION
Rare Eastside Costa Mesa triplex for sale. 3-unit investment with 3-bed/2-bath layouts. Priced below market value with instant equity. Prime coastal rental asset.
Estimated Market Value
$2,720,621+$270,621 Equity Potential
Based on Realkey algorithm analyzing recent comparable sales in Costa Mesa.
Comparable Sales Map
Comparables within 1 miles sold in recently
Map unavailable.
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 2515 Orange Avenue Subject 0 bd · 0 ba · 3,307 sqft · $823 | $2,450,000* List Price | 0 | 0 | 3,307 | $823 | - |
A 2209 Elden Avenue Pending 0 bd · 0 ba · 3,650 sqft · $685 · 0.8 mi | $2,499,000 List Price | 0 | 0 | 3,650 | $685 | 0.8 mi |
* Subject property listed price vs sold prices of comps.
Condition Analysis
See Full ReportOVERALL CONDITION SCORE
Good
TeardownExcellent
Property is move-in ready.
Although built in 1964, the property is described as well-maintained and move-in ready for tenants. It features a significant system upgrade with a new roof (2026) and well-kept exteriors. While interior kitchen/bath details are not pictured, the 'well-maintained' status and functional unit mix suggest a property that is operational and above 'Fair' condition for its age.
PROSSTRENGTHS & OPPORTUNITIES
- Rare Unit Composition
The property features an exceptional mix of three spacious 3-bedroom, 2-bathroom units, a configuration that is difficult to replicate and highly attractive to long-term family tenants seeking a residential feel.
- Prime Coastal-Adjacent Location
Situated in the highly sought-after Eastside Costa Mesa neighborhood bordering Newport Beach, the property is positioned in one of Orange County’s strongest rental markets with high demand and appreciation potential.
- Recent Capital Improvements
The installation of a new roof in 2026 provides immediate peace of mind for a new owner, reducing near-term maintenance liabilities and protecting the asset's structural integrity.
CONSRISKS & DEFICIENCIES
- Vintage Infrastructure
Originally built in 1964, the property may require significant capital investment to modernize interiors and upgrade aging systems to compete with newer luxury multifamily developments.
- Parking Limitations
With only two parking spaces allocated per 3-bedroom unit, the property may face congestion issues, as large units often house multiple drivers, which is a common challenge in high-density Costa Mesa neighborhoods.
About 2515 Orange Avenue
Pleased to present 2515 Orange Avenue, a 3-unit investment opportunity located in the highly desirable Eastside neighborhood of Costa Mesa, bordering Newport Beach. Offered for sale for the first time in over 20 years, the property is comprised entirely of spacious, single-story 3-bedroom, 2-bathroom units, each averaging approximately 1,100 square feet. This difficult-to-replicate unit mix provides residents with generous living spaces and a residential feel rarely found in traditional multifamily properties. Each unit includes a dedicated carport plus an additional open parking space, and the property also benefits from the recent installation of a new roof (2026). With its premier Eastside location, large three-bedroom floor plans, and strong rental demand, 2515 Orange Avenue represents a unique opportunity to acquire a well-maintained multifamily asset in one of Orange County’s most sought-after coastal-adjacent rental markets.
Property Details
Public Facts
- Property Type
- Triplex
- Year Built
- 1964
- Lot Size
- 8,373 Sq. Ft.
Interior
- Total Bedrooms
- 0
- Total Bathrooms
- -
Exterior & Parking
No exterior & parking available.
Utilities & Misc
- HOA Fee
- $0 / Month
Neighborhood Insights
Costa Mesa Unified Schools
Heinz Kaiser Elementary School
Grades 3-6 • 1.0 mi
8/10
Woodland Elementary School
Grades PK-2 • 1.3 mi
0/10
Mariners Elementary School
Grades PK-6 • 2.0 mi
8/10
Sensitive Facilities
No sensitive facilities data found.
Neighborhood Comparison
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 0.0 | 4.1 |
| Baths | 0.0 | 3.3 |
| Square foot | 3,307 | 2,325.7 |
| Lot Size | 8,373 | 6,920 |
| Price | $2.45M | $1.87M |
| Price per sq ft | $741 | $755 |
| Built year | 1964 | 1962 |
| HOA | $0 | $0 |
| Days on market | 18 | 70 |
Pricing History
Listed for Sale
Oct 7, 2026
$2,450,000
Initial Listing
Sold
Jan 21, 2004
$920,000
Public Record
Sold
Dec 1, 1999
$489,000
Public Record