
Costa Mesa, California 92627
This High-Potential Investment Opportunity is a Quadruplex listed at $3,199,000, positioned slightly above the $3,084,314 Fair Market Value. While priced at market, the property offers significant long-term upside through its 11,550 sqft lot and eight detached garages, which provide clear ADU conversion potential. With a Condition Rating of 3 and two recently renovated units, the asset delivers immediate, stable cash flow. This is a premier acquisition for Buy-and-Hold Investors or Portfolio Developers seeking a strategic foothold in the high-demand Costa Mesa rental market.
Property is move-in ready.
While the structure dates to 1927, the property is well-maintained and features two recently renovated units with modern bathroom updates (subway tile, new vanities) and flooring. It is fully occupied and functional, bridging the gap between its historical age and modern rental standards.
The expansive 11,550 sqft lot and eight detached garages provide a rare opportunity for ADU conversions or future redevelopment in a high-demand market.
Situated in the desirable Eastside Heights neighborhood, the property is minutes from Newport Beach and 17th Street, ensuring strong tenant demand and long-term appreciation.
The quadruplex is fully occupied with two recently renovated units, offering stable income and reduced immediate vacancy risk for incoming investors.
Living area discrepancy between mls listing and other public or private record. mls listing living area = 3500, other record living area = 978.
Originally built in 1927, the property may require significant ongoing maintenance or capital improvements to modernize aging systems and structural elements.
With a list price of $3.199M, the high cost per unit may result in a lower initial capitalization rate compared to other investment opportunities in the region.
Exceptional four-unit investment opportunity on an expansive 11,000+ square foot lot in one of Costa Mesa's most desirable rental markets. Fully occupied and generating immediate cash flow, this rare offering combines stable income, significant value-add potential, and exceptional long-term appreciation. All four units are currently leased, providing strong in-place income, with two recently renovated units and a long-term tenant contributing to stable occupancy. Investors can enjoy dependable cash flow today while benefiting from future rental growth as units turn over. Beyond its current income, the property's greatest asset is its oversized 11,000+ square foot lot and eight detached garages, creating exciting possibilities for ADU conversions or other future development opportunities (buyer to verify with the City of Costa Mesa). Whether your investment strategy is to maximize rental income, add value through future improvements, or capitalize on the property's redevelopment potential, this unique asset offers flexibility rarely found in coastal Orange County. Ideally located just minutes from Orange Coast College, Newport Beach, John Wayne Airport, Kaiser Permanente, the popular 17th Street dining and shopping district, Triangle Square, and the 55, 73, and 405 Freeways, the property enjoys exceptional convenience and consistently strong tenant demand. Investment opportunities offering this combination of immediate cash flow, an oversized lot, eight garages with potential ADU opportunities, and a premier Costa Mesa location are exceptionally rare. Whether you're expanding your portfolio or securing a legacy investment with multiple paths for future growth, this property delivers the income, location, and upside today's investors are seeking.
No exterior & parking available.
Grades 3-6 • 1.3 mi
Grades PK-2 • 1.5 mi
Grades PK-6 • 2.2 mi
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 0.0 | 4.1 |
| Baths | 0.0 | 3.3 |
| Square foot | 3,500 | 2,378.222 |
| Lot Size | 11,550 | 7,156.444 |
| Price | $3.20M | $2.04M |
| Price per sq ft | $914 | $780 |
| Built year | 1927 | 1962 |
| HOA | $0 | $0 |
| Days on market | 36 | 65 |
Aug 4, 2026
$3,199,000
Initial Listing