2940 Peppertree, Costa Mesa, California 92626, Costa Mesa, 92626 - 0 bed, 0 bath
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Costa Mesa, California 92626
This Mesa Verde Quadruplex represents a premier Residential Income Asset listed at $2,300,000. While the price sits near the $2,202,819 Fair Market Value, the property offers significant "value-add" potential through modernizing its 1960s systems. Currently holding a Fair Condition Rating, the layout features four units with individual garages and a spacious front lawn, enhancing tenant retention. Located five miles from the coast and near South Coast Plaza, the asset benefits from high rental demand and proximity to top-rated elementary schools. This is a strategic acquisition for Buy-and-Hold Investors or Value-Add Specialists.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 2940 Peppertree Subject | $2,300,000* List Price | 0 | 0 | 3,551 | $620 | - |
A 2976 Royal Palm Drive Sold | $1,975,000 | 0 | 0 | 3,550 | $556 | 0.1 mi |
* Subject property listed price vs sold prices of comps.
Property is moderate renovation needed.
Built in 1960, this quadruplex appears to be well-maintained externally with a clean lawn and functional garages; however, the listing description notes 'significant upside potential' and the need for 'modernizing systems or cosmetic updates.' The absence of interior images typically indicates that kitchens and bathrooms are dated and have not undergone recent major renovations, placing it firmly in the fair category.
Situated in the highly desirable Mesa Verde neighborhood, the property offers proximity to premier shopping at South Coast Plaza and is just five miles from the coast.
This four-unit property provides a versatile layout with both single-level and upper units, offering significant rental upside in a high-demand market.
Unlike many multi-family assets, this property features a spacious front lawn and individual garages for each unit, enhancing tenant retention and curb appeal.
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 = 6315.
Built in 1960, the building may require capital expenditures for modernizing systems or cosmetic updates to achieve maximum market rents.
While elementary schools are highly rated, the assigned middle and high schools have lower ratings, which may impact appeal for families with older children.
This prime 4-plex in Costa Mesa’s coveted Mesa Verde neighborhood offers a stable investment with significant upside potential. The property features four units, including two single level residences and two upper units, offering a versatile layout attractive to a wide range of tenants. This property benefits from a more residential feel while maintaining strong income potential. Each unit includes a one car garage, with additional street parking available. A spacious front yard with a grass lawn enhances curb appeal and provides a welcoming setting. Ideally situated just five miles from the coast, this property offers convenient access to premier destinations including South Coast Plaza, Orange Coast College, the OC Fairgrounds, Triangle Square, and the vibrant shopping and dining. A rare opportunity to own a well-located, income-producing property in one of Costa Mesa’s most sought-after communities.
No exterior & parking available.
Grades PK-6 • 0.7 mi
Grades K-6 • 0.8 mi
Grades 7-8 • 0.8 mi
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 0.0 | 0.0 | 50% |
| Baths | 0.0 | 0.0 | 50% |
| Square foot | 3,551 | 3,039.5 | 50% |
| Lot Size | 6,098 | 8,276.5 | 25% |
| Price | $2.30M | $1.97M | 75% |
| Price per sq ft | $648 | $650 | 50% |
| Built year | 1960 | 1964 | 25% |
| HOA | $0 | $0 | 50% |
| Days on market | 66 | 104 | 50% |
Apr 1, 2026
$2,300,000
Initial Listing