
Costa Mesa, California 92626
This Prime Investment Opportunity is a well-maintained 4-plex listed at $2,225,000, positioned well below the $2,286,295 Fair Market Value by 2%. This valuation gap offers $61,295 in Instant Equity. With a Condition Rating of 3, the property features recent capital improvements including a 10-year-old roof and new dual-pane windows. Located in the desirable Mesa Verde area near top-rated schools like California Elementary, this asset is ideal for Buy-and-Hold Investors or Portfolio Managers seeking stable, high-demand rental income.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 2904 Peppertree Lane Subject 0 bd · 0 ba · 3,550 sqft · $644 | $2,225,000* List Price | 0 | 0 | 3,550 | $644 | - |
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.
Despite being built in 1960, the property is well-maintained and features significant recent updates, including a 10-year-old roof, 1-year-old dual-pane windows, recent exterior paint, and a 5-year-old rear renovation. Interiors are functional, move-in ready, and have been freshly painted with some units upgraded.
Situated in the highly desirable Mesa Verde area, the property boasts excellent curb appeal with recent exterior paint, newer dual-pane windows, and updated roll-up garage doors.
Recent upgrades including a 10-year-old roof, 1-year-old windows, and a renovated rear driveway area significantly reduce immediate maintenance costs and capital expenditure for investors.
The rare opportunity to acquire the adjacent 4-plex allows for a larger portfolio play, increasing management efficiency and market presence in a high-demand rental market.
Lot size discrepancy between mls listing and other public or private record. mls listing lot size in square feet =6098, other record lot size in square feet = 6303.
Interior finishes and amenities vary significantly between units, with some lacking dishwashers or washer/dryer hookups, which could lead to uneven rental income and tenant dissatisfaction.
Originally built in 1960, the property may require future investments in core systems like plumbing or electrical that are typical for buildings of this vintage despite recent cosmetic updates.
RARE INVESTMENT OPPORTUNITY IN HIGHLY DESIRABLE MESA VERDE! Great opportunity to own a well-located 4-plex in the highly desirable Mesa Verde area. The property features spacious floor plan layouts, with each unit offering 2 bedrooms and 1 bathroom. The living rooms open to the dining areas and kitchens, with ceiling fans in the dining rooms and bedrooms. Several units have been upgraded, including one unit that is completely furnished. Interior finishes and amenities vary by unit. Some units feature dishwashers and washer/dryer hookups in the kitchen, while others do not. Flooring includes carpeting, with two downstairs units featuring laminate flooring. Some interiors have also been freshly painted within the past year. The roof is approximately 10 years old, and the property features newer dual-pane windows throughout, approximately 1 year old. The buildings' exteriors were painted about 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. Newer roll-up garage doors provide an additional update to the property. Great curb appeal, pride of landlord ownership. Great location near shopping, dining, transportation, and other everyday conveniences, adding to the property's appeal for both investors and tenants. Quiet Mesa Verde community. ADDITIONAL INVESTMENT OPPORTUNITY: The adjacent 4-plex at 2902 Peppertree is also available for purchase under a separate MLS listing, providing 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 | 6,098 | 6,920 |
| Price | $2.23M | $1.87M |
| Price per sq ft | $627 | $755 |
| Built year | 1960 | 1962 |
| HOA | $0 | $0 |
| Days on market | 28 | 70 |
Sep 27, 2026
$2,225,000
Initial Listing
Dec 29, 2004
$900,000
Public Record