
Costa Mesa, California 92626
This High-Potential Investment Opportunity is a well-maintained Residential Income Quadruplex listed at $2,175,000, positioned well below the $2,251,295 Fair Market Value by 3%. This valuation gap provides $76,295 in Instant Equity. With a Condition Rating of 3, the property features recent capital improvements including dual-pane windows and exterior paint. The ability to acquire the adjacent 4-plex offers significant economies of scale. This is an ideal acquisition for Buy-and-Hold Investors or Portfolio Managers seeking stable rental demand in Costa Mesa.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 2902 Peppertree Lane 4 Subject 0 bd · 0 ba · 3,550 sqft · $634 | $2,175,000* List Price | 0 | 0 | 3,550 | $634 | - |
A 2940 Peppertree Active 0 bd · 0 ba · 3,551 sqft · $634 · 0.1 mi | $2,250,000 List Price | 0 | 0 | 3,551 | $634 | 0.1 mi |
* Subject property listed price vs sold prices of comps.
Property is move-in ready.
Although built in 1960, the property is well-maintained and functional with significant recent capital improvements, including a 10-year-old roof, 2-year-old exterior paint, 1-year-old dual-pane windows, and various interior updates and fresh paint within the past year.
Situated in the highly desirable Mesa Verde neighborhood of Costa Mesa, this income-producing 4-plex offers strong rental demand and long-term appreciation potential in a quiet, sought-after area.
The property features significant recent upgrades, including dual-pane windows installed one year ago, exterior paint from two years ago, and a roof approximately 10 years old, reducing immediate deferred maintenance for a new owner.
The rare opportunity to purchase the adjacent 4-plex at 2904 Peppertree Lane allows an investor to acquire eight contiguous units, providing better economies of scale and management efficiency.
Lot size discrepancy between mls listing and other public or private record. mls listing lot size in square feet =6970, other record lot size in square feet = 6777.
Interior finishes and amenities vary significantly across units, with some lacking dishwashers and in-unit laundry hookups, which may result in uneven rental income and require future capital for standardization.
Originally built in 1960, the property may require ongoing attention to aging plumbing or electrical systems common in older vintage buildings, despite recent cosmetic and exterior updates.
Prime Mesa Verde Location – Income-Producing 4-Plex Great opportunity to own a well-located 4-plex in the highly desirable Mesa Verde area. The property offers spacious floor plan layouts, with each unit featuring 2 bedrooms and 1 bathroom. Living rooms open to dining areas and kitchens, with ceiling fans in the dining rooms and bedrooms. Unit amenities and finishes vary. Some units feature dishwashers and washer/dryer hookups in the kitchens, while others do not. Flooring varies by unit, including carpeting and laminate flooring. Several interiors have been upgraded and/or freshly painted within the past year. One downstairs unit features a spacious side yard with a block wall and patio slab. The roof is approximately 10 years old. The exterior of the buildings was painted approximately 2 years ago, and dual-pane windows were installed approximately 1 year ago. The rear of the property was renovated approximately 5 years ago and features cement driveways and additional parking. Tenants also have access to additional street parking along the single-loaded street. Great curb appeal, pride of landlord ownership. A community coin-operated laundry room is located in one of the garages, providing an additional tenant amenity. Conveniently located near shopping, dining, transportation, and other everyday amenities, this is an attractive investment opportunity in a desirable, quiet Costa Mesa neighborhood. Additional Investment Opportunity: The adjacent 4-plex at 2904 Peppertree Lane is also available for purchase under a separate MLS listing, offering a potential opportunity to acquire both properties.
No exterior & parking available.
Grades PK-6 • 0.6 mi
Grades K-6 • 0.9 mi
Grades 7-8 • 0.8 mi
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 0.0 | 4.1 |
| Baths | 0.0 | 3.3 |
| Square foot | 3,550 | 2,325.7 |
| Lot Size | 6,970 | 6,920 |
| Price | $2.17M | $1.87M |
| Price per sq ft | $613 | $755 |
| Built year | 1960 | 1962 |
| HOA | $0 | $0 |
| Days on market | 28 | 70 |
Sep 27, 2026
$2,175,000
Initial Listing
Dec 29, 2004
$900,000
Public Record